Financing Enables 20 Ethanol Facilities on East Coast, U.S.

Completion of a financing agreement for development of up to 20 renewable energy facilities enables Agri-Ethanol Products, LLC (AEP) to pursue fledgling projects in need of process design, construction and financing combined with experienced development management expertise, especially within the East Coast Region, from the Gulf states to New York, announced Dave Brady, AEP’s Chief Executive Officer.

At least two new North Carolina ethanol projects, in addition to the Aurora site, are anticipated as a part of the 20 potential facilities. Each of these facilities will produce 108 million gallons per year of un-denatured, fuel grade ethanol; and 380,000 tons of high-protein DDGS and 320,000 tons of CO2 that will be purified and marketed into the food and beverage industries. Each facility will employ 65 full-time people and will generate approximately $318 million in one time economic activity for the immediate area in which it is located. Construction time required to complete each facility is estimated to take 14 months and will involve about 500 people during construction, which will take place on approximately 160 acres. As a result of this agreement, AEP is expanding its Raleigh headquarters staff by hiring engineering and administrative personnel to process new project submissions and has contracted with Sites Plus, LLC to assist AEP with site selection.
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