A foreclosed ethanol plant in Galva, Iowa that once produced 35 million gallons annually is going to sealed bid auction on September 29, with bids due by 4 p.m. CDT. The facility includes a 31-acre main plant with 3.7 million bushels of grain storage capacity, additional development land, an office building, and a rail transload facility.
- The Quad County Corn Processors plant processed roughly 12.5 million bushels of grain annually at peak capacity and produced 35 million gallons of ethanol.
- The facility shut down in late 2024 after a mechanical failure of molecular sieves and the cooperative lacked capital for repairs.
- The auction includes four separate tracts that can be purchased individually or as a package: a 31-acre main facility, 34.62 acres of development land along U.S. Highway 20, a 9,454-square-foot office building in downtown Galva, and a 2-acre rail transload facility.
- Potential buyers must submit a $20,000 deposit with sealed bids by September 29, with closing expected around October 23.
- The plant was founded in 2000 and pioneered cellulosic ethanol production in Iowa, backed by more than 420 local farmer-investors.
A foreclosed ethanol plant in northwest Iowa is going up for auction next month, offering buyers a chance to acquire a complete production facility that once produced 35 million gallons annually. Maas Companies will conduct the sealed bid auction for Quad County Corn Processors in Galva, Iowa, with bids due Sept. 29.
The plant shut down indefinitely in late 2024 after experiencing a mechanical failure when its molecular sieves broke down. Unable to generate revenue to cover operating expenses, the cooperative lacked capital to finance major equipment repairs needed to restart.
What's being sold
The auction includes four separate tracts that can be purchased individually or as a package. The main facility sits on 31 acres and includes 3.7 million bushels of grain storage capacity along with all production equipment and rolling stock. The plant processed roughly 12.5 million bushels of grain annually at its peak.
Additional parcels include 34.62 acres of development land with frontage along U.S. Highway 20, a 9,454-square-foot office building in downtown Galva, and a 2-acre rail transload facility in Cherokee, Iowa, located 25 miles northwest of the main plant.
Plant background
Founded in 2000 by six northwest Iowa investors, Quad County Corn Processors shipped its first truckload of ethanol on Feb. 23, 2002. Backed by more than 420 local farmer-investors, the facility initially started as an 18-million-gallon-per-year operation.
The plant gained industry recognition as a pioneer in renewable energy by becoming the first Iowa facility to produce cellulosic ethanol directly from corn kernel fiber. It produced ethanol along with livestock feed co-products including dried distillers grains, wet distillers grains, distillers corn oil and corn condensed solubles.
Auction details
Potential buyers must submit a $20,000 deposit with their sealed bids by 4 p.m. CDT on Sept. 29. A 5% buyer's premium will be added to the winning bid. The balance is due at closing on or about Oct. 23.
On-site inspections are scheduled for Sept. 10 and Sept. 24 for the main plant, with additional dates for other tracts. Virtual tours are also available.
"The auction is a perfect opportunity for a buyer to acquire a plant with a proven track record in the nation's number one ethanol producing state," said Tyler Maas, chief auctionologist with Maas Companies.
Iowa accounts for roughly 30% of total U.S. ethanol output. The plant sits along U.S. Highway 20, a major four-lane corridor with 5,000 vehicles per day.
