August 14, 2008
VeraSun Energy Announces Startup of Hartley, Iowa, Ethanol Biorefinery
BROOKINGS, S.D., Aug. 14 /PRNewswire-FirstCall/ -- VeraSun Energy Corp. , one of the nation's largest ethanol producers, today announced the startup of its 110 million gallon per year ethanol biorefinery located near Hartley, Iowa. The Hartley 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 our Hartley 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 of Hartley to help make this day a reality."
Located on a 350-acre site west of Hartley, 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 in Marion, S.D., Bloomingburg, Ohio, and Hankinson, N.D. According to the Iowa Renewable Fuels Association, the Hartley facility is the 31st operating ethanol biorefinery in the state of Iowa, 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 , 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 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/.
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.
VeraSun Energy Corp.
Web site: http://www.verasun.com/http://www.ve85.com/