Published:
VeraSun Energy Announces Startup of Hartley, Iowa, Ethanol Biorefinery
BROOKINGS, S.D., Aug. 14 /PRNewswire-FirstCall/ -- VeraSun Energy Corp.
(NYSE: VSE), one of the nation's largest ethanol producers, today announced
the startup of its 110 million gallon per year ethanol biorefinery located
nearHartley, Iowa. TheHartley production facility marks the 13th VeraSun
biorefinery in operation, increasing the company's annual production capacity
to more than 1.3 billion gallons.
"We are pleased to bring ourHartley ethanol biorefinery into production,"
VeraSun CEO Don Endres said. "It is one of the largest and most efficient
facilities in the nation and further expands VeraSun's production platform to
provide additional scale to our business. We appreciate the support of our
team, business partners, and the community ofHartley to help make this day a
reality."
Located on a 350-acre site west ofHartley, construction on the facility
began in November 2006. The biorefinery will annually process approximately 39
million bushels of corn and produce about 350,000 tons of distillers grains
for livestock feed, in addition to employing approximately 55 workers.
VeraSun Hartley is the fourth VeraSun facility to come on-line this year,
joining sister production facilities inMarion, S.D.,Bloomingburg, Ohio, and
Hankinson, N.D. According to the Iowa Renewable Fuels Association, theHartley
facility is the 31st operating ethanol biorefinery in the state ofIowa,
expanding overall production throughout the state to almost 2.5 billion
gallons annually.
"At 2.5 billion gallons,Iowa is producing more ethanol than what that
state consumes in gasoline annually, thus becoming a net exporter of
transportation fuel," Endres said. "While the national debate continues on how
to solve our energy crisis,Iowa is showing the nation how we can become less
reliant on foreign oil today."
About VeraSun Energy Corporation
VeraSun Energy Corporation (NYSE: VSE), headquartered inBrookings, S.D.,
is a leading producer and marketer of ethanol and distillers grains. Founded
in 2001, the company has a fleet of 16 production facilities in eight states,
of which two are still under construction. VeraSun Energy is scheduled to have
an annual production capacity of approximately 1.64 billion gallons of ethanol
and more than five million tons of distillers grains by the end of 2008.
VeraSun also markets E85, a blend of 85 percent ethanol and 15 percent
gasoline for use in Flexible Fuel Vehicles (FFVs), directly to fuel retailers
under the brand VE85(R). For more information, please visit VeraSun Energy's
websites at http://www.verasun.com or http://www.VE85.com.
Forward-Looking Statements
Statements included or incorporated by reference in this document are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. They are based upon our current beliefs and
expectations, are subject to risks and uncertainties outside of our control,
and actual results might differ materially from these estimates and
statements. Factors that may cause actual results to differ include the
volatility and uncertainty of commodity prices, results of our hedging and
other risk mitigation strategies, results of our acquisitions, operational
disruptions at our facilities; our ability to implement our expansion
strategy; development of infrastructure related to the sale and distribution
of ethanol; excess production capacity in our industry; our ability to compete
effectively in our industry; changes in or elimination of governmental laws,
tariffs, trade or other controls or enforcement practices; environmental,
health and safety laws; our reliance on key management personnel; future
technological advances; limitations and restrictions contained in the
instruments and agreements governing our indebtedness; and our ability to
raise additional capital and secure additional financing, as more fully
described in the "Risk Factors" sections of our annual report on Form 10-K for
the year ended December 31, 2007 and our quarterly report on Form 10-Q for the
quarter ended June 30, 2008. We are not under any obligation, and expressly
disclaim any obligation, to update, alter or otherwise revise any
forward-looking statement, whether written or oral, that may be made from time
to time.
SOURCE VeraSun Energy Corp.
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