VeraSun Energy Announces Startup of Dyersville, Iowa, Ethanol Biorefinery
06 September 2008 - 6:00AM
PR Newswire (US)
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 near Dyersville, Iowa. The
Dyersville 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 of Iowa," 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 the Dyersville 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 in Iowa, increasing overall annual production
capacity in the state to almost 2.5 billion gallons. The Dyersville
facility is VeraSun's fifth production facility in Iowa, joining
other 110MMGY biorefineries in Albert City, Charles City, Fort
Dodge, and Hartley. At 550MMGY of annual production capacity,
VeraSun is the largest ethanol producer in the state. Located on
approximately 200 acres west of Dyersville, 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 in Marion,
S.D., Bloomingburg, Ohio, Hankinson, N.D., and Hartley, Iowa. About
VeraSun Energy Corporation VeraSun Energy Corp. (NYSE:VSE),
headquartered in Brookings, 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.
DATASOURCE: VeraSun Energy Corp. CONTACT: Investors, Patty
Dickerson, +1-605-696-7236, , or Media, Mike Lockrem,
+1-605-696-7527, , both of VeraSun Energy Corp. Web site:
http://www.verasun.com/
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