US BioEnergy Opens 100 mgy Ethanol Facility

US BioEnergy Corporation opened an ethanol production facility in Albert City, Iowa, and also recently marked its initial public offering (IPO) on NASDAQ.

The Albert City facility, which began operations in November 2006, is expected to produce approximately 100 million gallons of ethanol per year (mgy) and 320,000 tons of distillers grains per year. This brought the company’s total ethanol production to 250 million gallons of ethanol per year. “It is imperative that we as a country look to the long-term solution that ethanol offers by its ability to lessen our dependence on foreign oil and decrease gasoline’s negative impact on the environment. We are honored to mark this occasion by a remote NASDAQ bell ringing ceremony,” said Gordon Ommen, chairman and CEO of US BioEnergy. The company currently owns and operates three ethanol plants and has five additional ethanol plants under construction. Upon completion of these initiatives, US BioEnergy will own and operate seven plants with combined expected ethanol production capacity of 650 million gallons per year. Last week, US BioEnergy Corporation announced that construction has begun on a 100 million gallon per year dry grind ethanol facility near Grinnell, Iowa, which it owns jointly with Big River Resources, LLC, an early ethanol producer using Mississippi River transportation and owner of a 56 million gallon per year plant near West Burlington, Iowa. US BioEnergy also announced that it acquired options on land in Nebraska.
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