There was/is a plant in Hopewell, VA not too far from me that was going to do that. Right before they started to produce product they had a big fire. A British company was going to buy it and ship it over seas, but said they would stay here and make jobs. Its a neat idea, but its been almost a decade in the making.
New hope for ethanol plant? - News - Progress-Index
British company plans to open Hopewell ethanol plant - NBC12.com - Richmond, VA News