Biofuel dysfunction: Verasun files for bankruptcy
Verasun, an ethanol maker once cited by venture capitalist Vinod Khosla as one of the most innovative in the ethanol industry, appears to be disintegrating in what could become a case study of the dangers inherent in the biofuel industry.
The publicly-traded company’s troubles began last year as the price of corn began to drop, allowing its competitors to buy their raw material more cheaply — Verasun had made a bet locking itself into long-term agreements… Continue Reading