Alternative Energy Sources Inc. Plans New Ethanol Plant in Iowa.
Alternative Energy Sources Inc. today announced plans to build a 110-million-gallon ethanol plant in Boone County, Iowa.
The first plant for AENS, the company said it has secured options to buy 625 acres from five landowners and that the permitting process will begin with the Iowa Department of Natural Resources. The site is located between Ogden and Beaver in the central part of the state and adjacent to a railroad line.
"We have had a very strong relationship with the Union Pacific Railroad for almost 20 years, and look forward to capitalizing on 100-car unit train ethanol and dried distillers' grains capabilities while optimizing supply-chain efficiencies," said Mark Beemer, president and CEO. Beemer, a former vice president of Archer Daniels Midland's Grain Division, the nation's No. 1 ethanol producer.
"The large footprint will provide AENS great flexibility in plant design, allowing us to build significant rail infrastructure to accommodate the high-density Union Pacific mainline," said Beemer.
Lee Blank, chief operating officer and also a former ADM executive, said the company plans to begin construction in six to nine months "and have the plant in operation by fall 2008."
Once in operation, the plant is expected to create jobs for 45 to 55 people with payroll between $2.5 and $3.5 million. Due to the flexibility of the Union Pacific franchise, the ethanol can be shipped to a multitude of destination markets, allowing AENS ethanol and DDG market arbitrage opportunities. The facility will be shipping approximately one unit-train per week.
Alternative Energy Sources Inc. also plans to build additional plants in the Midwest with each plant expected to produce nearly 100 carloads of ethanol per week.For more information, visit www.aensi.com.
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|Date:||Aug 15, 2006|
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