KANSAS CITY, Mo., May 15, 2007 (PRIME NEWSWIRE) -- Kansas City-based Alternative Energy Sources Inc. (OTCBB:AENS) today announced its selection of FCStone Group Inc. (FCSX) to provide risk management services for its three proposed ethanol plants in Ogden, Iowa, and in Kankakee and Greenville, Ill.
AENS will use futures and options trading cleared through FCStone for hedging margins in the ethanol business and to mitigate price risks associated with corn, natural gas and ethanol. This will enable AENS to limit its exposure to commodity price volatility while ensuring a guaranteed supply of corn feedstock for its plants through Chicago Board of Trade delivery markets.
"FCStone is especially pleased to have to have been selected to work with AENS as the company positions itself as one of the leading players in the growing ethanol marketplace," says Dave Smoldt, vice president, operations, FCStone LLC. "We have great respect for the company's highly qualified management team, whose extensive experience in the ag processing industry will prove to be invaluable in their success."
Adds Mark Beemer, AENS's CEO: "FCStone's industry expertise and research provides a perfect complement to our management team's commodity background, and will further enhance our ability to make the solid risk management decisions in feedstock procurement and energy sales."
FCStone is a broad-based commodity risk management and trading company headquartered in Des Moines, Iowa, with 13 U.S. offices and four international locations.
AENS is developing "greenfield" sites, including constructing, owning and operating fuel-grade ethanol plants. For information: www.aensi.com and www.fcstone.com.
The Alternative Energy Sources Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2961
Forward-Looking Statements: This release contains "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, These statements are based on management's expectations, estimates, projections and assumptions. You can identify these statements by the fact that they do not relate strictly to historic or current facts. They use words such as "will," "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "target," "forecast" and similar words in connection with any discussion of future operating or financial performance. 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 including, but not limited to, our inability to secure or generate sufficient operating cash flow to adequately maintain our generating facilities and service our debt, commodity pricing, intense competition for undervalued generating assets, environmental risks and general economic conditions and other financial, operational and legal risks and uncertainties detailed from time to time in the Company's SEC filings. Any forward-looking statements speak only as of the date of this release. We assume no obligation to update any forward-looking statements to reflect any event or circumstance that may arise after the release date.