A pair of Iowa entrepreneurs are moving forward with a $ 120 million dollar ethanol plant to be built in Onida, South Dakota. Chris Schwarck says he and Walter Wendlund own Ring Neck Energy and Feed. They’re working with local officials and will meet with the Sully County zoning board on February 3. Schwarck says the Onida location is ideal for their project.
Schwarck says they also want to capitalize on the ethanol byproduct with their facility.
Schwarck says they need to raise 50 percent of the $ 120 million from local investors through an equity drive. He says they hope to break ground by June of 2016 and be in operation by mid to late September of 2016.