CAPE GIRARDEAU, MO - A company that at one time planned to build an ethanol production plant in Cape Girardeau now will file for bankruptcy.
Ethanex Energy Inc. was unable to gain interim financing. At one time, Ethanex planned a production facility at the SEMO Port Authority.
Ethanol was all the rage a year ago, but other firms are also struggling now. In Sikeston, Bootheel Agri-Energy LLC was recently forced to return cash invested in its proposed plant.
Bob Smallwood is president of SEMO Milling, a corn milling plant that formed a partnership with Ethanex. Smallwood says the profit margin on ethanol has shrunk to about one-third the amount of a year ago due to high corn prices and falling ethanol prices.