17.1.2007: Meldung: Aventine to Market Ethanol for Virgin Venture
In addition to marketing the ethanol produced by the IBE plant, Aventine made a $5 million investment in IBE and will be given a Board seat.
The new Bluffton, IN plant will produce 100 million nameplate gallons of ethanol annually, and is being built on a 346 acre site on the southwest edge of Bluffton. IBE"s largest investor, VBV LLC, is an entity majority-owned jointly by an affiliate of Sir Richard Branson"s Virgin Group and by Bioverda International Holdings Limited.
Ron Miller, Aventine"s President and Chief Executive Officer said, ``We are pleased to announce the addition of Indiana Bio-Energy to our marketing alliance. Our growing marketing alliance network helps us further our goal of being the premier end-to-end supplier of ethanol in the country.""
Aventine is a leading producer, marketer and end to end distributor of ethanol in the United States. Aventine produces, markets and distributes ethanol to leading energy companies. In addition to ethanol, it is also a producer of corn gluten feed, corn germ and brewers" yeast.
About VBV LLC
VBV LLC is an entity majority-owned jointly by an affiliate of Sir Richard Branson"s Virgin Group and by Bioverda International Holdings Limited, a subsidiary of NTR plc of Dublin, Ireland. VBV is intended to be the vehicle through which Virgin and Bioverda make a number of investments in the biofuels sector. The investment in Indiana Bio-Energy is VBV"s second investment. In October 2006, VBV agreed to purchase a controlling stake in Ethanol Grain Processors, which will construct and operate a biofuels production facility in Tennessee. These investments by the Virgin Group support Sir Richard Branson"s pledge at the Clinton Global Initiative to invest heavily in renewable energy initiatives.
Internet address is http://www.aventinerei.com.
Aventine Renewable Energy Holdings, Inc.
Les Nelson, Director, Investor Relations
Source: Aventine Renewable Energy Holdings, Inc.