Canola has another new project rocking. Sources tell me that Northstar Bioenergy LLC made a presentation on Feb. 19 in Roseau, Minn., about a their $135 million canola oil/biofuels project slated for Hallock, Minn.
Neil Juhnke is listed as the companys president and did some of the talking.
The company will produce 40 million gallons of canola oil and 2 million gallons of biodiesel, the sources say. According to sources, the group made reference to an equity placement and finance package to be completed in March 2007.
For all you sugar beet guys, Juhnke was ag operations manager for American Crystal Sugar Co. from 1990 to 2005. He briefly worked at Valley Engineering of Fargo before starting up Bioenergy Development Group of Fargo in 2006. Thats a consulting group that provides services to Northstar Bioenergy. His partner in that one is Tom Persson, a long-time banker in the Fargo market.