Published:
VeraSun Energy Announces Startup of Dyersville, Iowa, Ethanol Biorefinery
BROOKINGS, S.D., Sept. 5 /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 (MMGY) ethanol biorefinery
located nearDyersville, Iowa. TheDyersville production facility marks the
14th VeraSun biorefinery in operation, increasing the company's annual
production capacity to more than 1.4 billion gallons.
"We are pleased to bring another large-scale, environmentally friendly
ethanol production facility on-line in the state ofIowa," VeraSun CEO Don
Endres said. "The state continues to be a leader in renewable fuels
production, helping our nation to reduce our dependence on foreign oil. We
commend theDyersville community, its leadership, and the local corn producers
for making this day a reality."
According to the Iowa Renewable Fuels Association, VeraSun Dyersville is
the 32nd operating biorefinery inIowa, increasing overall annual production
capacity in the state to almost 2.5 billion gallons. TheDyersville facility
is VeraSun's fifth production facility inIowa, joining other 110MMGY
biorefineries inAlbert City,Charles City,Fort Dodge, andHartley. At
550MMGY of annual production capacity, VeraSun is the largest ethanol producer
in the state.
Located on approximately 200 acres west ofDyersville, construction on the
facility began in October 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 took ownership of the plant on April 1, 2008, following
its merger with U.S. BioEnergy.
VeraSun Dyersville is the fifth VeraSun facility to come on-line this
year, joining sister production facilities inMarion, S.D.,Bloomingburg,
Ohio,Hankinson, N.D., andHartley, Iowa.
About VeraSun Energy Corporation
VeraSun Energy Corp. (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 one is still under construction. VeraSun Energy is scheduled to have an
annual production capacity of approximately 1.64 billion gallons of ethanol
and more than 5 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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