Ethanol plant garners grain dealer license

Plymouth Energy is back in the grain dealing business.

On June 10, Plymouth Energy Grain, a wholly-owned subsidiary of Plymouth Energy, obtained a grain dealer license, which gives it the ability to purchase corn for the Plymouth Energy ethanol plant just north of Merrill.

Plymouth Energy's ability to act as a grain dealer was temporarily suspended in early May by the Iowa Department of Agriculture and Land Stewardship (IDALS).

"We haven't received the (temporarily revoked) license back yet on Plymouth Energy," Dave Hoffman, Plymouth Energy CEO said Monday, adding that when that first license is re-instated, the company will still probably continue only using Plymouth Energy Grain's license.

The original Plymouth Energy grain dealer's license was suspended in May based on alleged violations of Iowa Code Chapter 203, which regulate accounting and financing requirements.

A hearing set for early June to decide whether that license would be permanently revoked was postponed until Aug. 31 in Des Moines.

Hoffman said the issue IDALS had with Plymouth Energy's accounting had to do with the company's software.

"The software works for the state now," Hoffman said.