29.12.2006: Meldung: Ethanex Energy Announces FCStone Relationship
FCStone will combine its experience as one of the world"s largest grain traders with futures and options market strategies to help Ethanex mitigate its exposure to commodity price volatility and maximize profit margins. As the largest independent risk management firm in renewable fuels, FCStone brings over 75 years of experience in local and global commodity markets and is a recognized innovator in commodity risk intelligence.
"FCStone will help Ethanex maximize operating profitability, expand merchandising efforts and manage multiple risks," said Al Knapp, President and Chief Executive Officer of Ethanex. "As we prepare for Chevron"s commencement of construction in the first quarter of 2007, we simultaneously continue to enhance our operational capabilities. As Ethanol industry service providers become increasingly selective we are pleased that Ethanex continues to attract leading companies such as FCStone."
"FCStone is pleased to have been chosen to support and enhance Ethanex"s competitive advantages," said Peter J. Nessler Jr., Vice President, Renewable Fuels Group FCStone, LLC. "I have great respect for what Al Knapp accomplished at TIC and look forward to helping him continue to be a leader in the ethanol space."
FCStone is a broad-based commodity risk management and trading company headquartered in Des Moines, Iowa with 13 offices in the U.S., plus four international locations. The FCStone Renewable Fuels Group is a major force in the ethanol industry. By 2006, our group will provide risk management for over 1 billion gallons of ethanol and over 400 million bushels of corn. This accounts for over 20% of the total ethanol produced in the United States. Due to our large presence in the ethanol market, we have a vast knowledge of the over all ethanol industry. Our group utilizes cash, futures and over-the-counter (OTC) products to help minimize risk and maximize margins for our ethanol customers.
FCStone"s Renewable Fuels Group currently works with ethanol plants which have capacity sizes ranging from 20 million gallons to 110 million gallons. Our Renewable Fuels Group closely monitors ethanol margins for customers through an Integrated Risk Management Program (IRMP) specifically tailored to their needs. For more information about FCStone, visit www.fcstone.com.
About Ethanex Energy, Inc.
Ethanex Energy, Inc. is a renewable energy company whose mission is to become the ethanol industry"s low-cost producer. The company expects to achieve this industry position through the application of next-generation feedstock technologies and use of alternative energy sources. Ethanex Energy is currently developing three ethanol production facilities located in the mid-west, with a combined production capacity of approximately 400 million gallons of ethanol per year. The Company expects these three plants to be operational in 2008. Ethanex Energy is concentrating its geographic focus in areas that allow access to abundant supplies of corn, alternative energy sources, transportation infrastructure and the potential for expedited permitting. Ethanex Energy"s acquisition and brownfield development strategies afford it rapid capacity development with significant operating cost advantages. The Company"s senior management has over eighty years of experience in the energy sector including the design, construction and operation of hundreds of power generation facilities. Ethanex Energy is based in Basehor, Kansas with offices in Santa Rosa, California and Charleston, South Carolina. For more information about Ethanex Energy, visit www.ethanexenergy.com.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, including without limitation those statements regarding the Company"s ability to exploit ethanol development and production opportunities. These statements are expressed in good faith and based upon a reasonable basis when made, but there can be no assurance that these expectations will be achieved or accomplished. Although the forward- looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements including, but not limited to, our inability to generate sufficient operating cash flow to construct and adequately maintain our production facilities and service our anticipated debt, commodity pricing, environmental risks and general economic conditions. Readers are urged to carefully review and consider the various disclosures made by us in the our reports filed with the Securities and Exchange Commission, including those risks set forth in the Company"s Current Report on Form 8-K filed on September 6, 2006, which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward- looking statements in order to reflect any event or circumstance that may arise after the date of this release.
Ethanex Energy, Inc.
Bryan Sherbacow, 843-724-1555
Strategic Growth International
Jennifer K. Zimmons, 212-838-1444
Source: Ethanex Energy, Inc.