Aventine Renewable Energy delays startup of its ethanol plant in Canton, Illinois, until early 2012, citing uncertainty about securing third-party technical, engineering support, ability to complete remaining work prior to winter
September 13, 2011
– Aventine Renewable Energy Holdings, Inc. (OTCBB:AVRW), announced it is delaying the start-up of its ethanol plant located in Canton, Illinois until early next year.
The Company noted the delay is due to uncertainty surrounding its ability to secure critical third-party technical and engineering support in the time frame needed to re-commission the plant as well as its ability to fully complete the remaining scheduled work prior to the arrival of winter weather. The Company previously anticipated starting up the facility mid-October this year.
"This plant relies on an integrated boiler system and co-gen unit to supply the necessary energy for the plant. To ensure a higher degree of success in the start-up of this facility the Company needs the support of the third party who designed this system. Their support will not be available in the time frame needed to get the plant going prior to the potential for winter weather to set in. Given these uncertainties, we believe this is the most prudent course of action," said John Castle, Interim Chief Executive Officer. "We have taken steps to secure critical third party support for the new schedule and fully anticipate starting up this plant early next year after the winter subsides."
About Aventine Renewable Energy
Aventine is a leading producer of ethanol. Through our production facilities, we market and distribute ethanol to many of the leading energy companies in the U.S. In addition to producing ethanol, our facilities also produce several by-products, such as distillers grain, corn gluten meal and feed, corn germ and grain distillers dried yeast, which generate revenue and allow us to help offset a significant portion of our corn costs.