PEKIN, Ill., March 15, 2007 (PRIME NEWSWIRE) -- Aventine Renewable Energy Holdings, Inc. (NYSE:AVR), a leading producer, marketer and end-to-end provider of clean renewable energy for the world, today announced that it has entered the biodiesel marketing business. The Company has begun to set up a marketing program for biodiesel similar to how it currently markets ethanol.
"We have signed up our first biodiesel supplier and customer," said Jim Sneed, Vice President of Marketing for Aventine. "While in its infancy right now, we expect to grow our biodiesel programs as we have our ethanol programs. Using the systems and assets we already have in place, we expect to be able to provide sufficient quantities of biodiesel to our current customers, as well as to new customers."
Ron Miller, Aventine's President and CEO, stated, "As the country continues to embrace other sources of renewable fuels in addition to ethanol, we intend to take advantage of opportunities in the marketplace to utilize our 25 years of experience, distribution assets, and customer relationships. Biodiesel is a natural progression and addition from ethanol for us. We will continue our focus on our existing ethanol alliance and expanding our own ethanol production facilities, while at the same time, adding another renewable fuel source to our product lineup."
About Aventine
Aventine is a leading producer, marketer and end-to-end distributor of ethanol to many leading energy companies in the United States. Aventine is also a marketer and distributor of biodiesel. In addition to ethanol, Aventine also produces of distillers grains, corn gluten feed, corn germ and brewers' yeast.
Internet address is www.aventinerei.com.
Forward Looking Statements
Certain information included in this press release may be deemed to be "forward looking statements" within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release, are forward looking statements. Any forward looking statements are not guarantees of Aventine's future performance and are subject to risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by such forward looking statements. Aventine disclaims any duty to update any forward looking statements. Some of the factors that may cause Aventine's actual results, developments and business decisions to differ materially from those contemplated by such forward looking statements include the following:
-- Changes in or elimination of laws, tariffs, trade or other
controls or enforcement practices such as:
- National, state or local energy policy;
- Federal ethanol tax incentives;
- Regulation currently proposed and/or under consideration which
may increase the existing renewable fuel standard and other
legislation mandating the usage of ethanol;
- State and federal regulation restricting or banning the use of
Methyl Tertiary Butyl Ether;
- Environmental laws and regulations applicable to Aventine's
operations and the enforcement thereof;
-- Changes in weather and general economic conditions;
-- Overcapacity within the ethanol and petroleum refining
industries;
-- Total United States consumption of gasoline;
-- Availability and costs of products and raw materials,
particularly corn, coal and natural gas;
-- Labor relations;
-- Fluctuations in petroleum prices;
-- The impact on margins from a change in the relationship between
prices received from the sale of co-products and the price paid
for corn;
-- Aventine's or its employees' failure to comply with applicable
laws and regulations;
-- Aventine's ability to generate free cash flow to invest in its
business and service any indebtedness;
-- Limitations and restrictions contained in the instruments and
agreements governing Aventine's indebtedness;
-- Aventine's ability to raise additional capital and secure
additional financing, and our ability to service such debt, if
obtained;
-- Aventine's ability to retain key employees;
-- Liability resulting from actual or potential future litigation;
-- Competition;
-- Plant shutdowns or disruptions at our plant or plants whose
products we market;
-- Availability of rail cars and barges;
-- Renewal of alliance partner contracts;
-- Our ability to receive and/or renew permits to construct and/or
commence operations of our proposed capacity additions in a
timely manner, or at all; and
-- Fluctuations in earnings resulting from increases or decreases in
the value of ethanol inventory