Aventine to Market Ethanol for Second Virgin Venture

Aventine Renewable Energy Holdings, Inc. announced that Ethanol Grain Processors, LLC’s (EGP) Obion, Tennessee facility will join its marketing alliance network. Aventine will market all of the ethanol for the EGP facility when production begins.

Completion of the facility is expected by fall of 2008. EGP’s new Obion plant, which will produce 100 million gallons annually (mgy) of ethanol, is being built on a 230-acre site near Obion, Tennessee. EGP’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. “The addition of this new marketing alliance partner is important in our overall growth plan. Ethanol Grain Processor’s new facility will be an important partner in supplying the southeastern part of the U.S. with ethanol,” said Ron Miller, Aventine’s president and CEO. These investments by the Virgin Group support Sir Richard Branson’s pledge at the Clinton Global Initiative to invest $3 billion in renewable energy initiatives.
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