Valero Purchases 11th Ethanol Plant
SAN ANTONIO, March 21, 2014
SAN ANTONIO, March 21, 2014 /PRNewswire/ --Valero Renewable Fuels Company,
LLC, a wholly owned subsidiary of Valero Energy Corporation (NYSE: VLO),
announced today that it has purchased a corn ethanol plant in Mount Vernon,
Ind. from Aventine Renewable Energy-Mt. Vernon, LLC, a wholly owned subsidiary
of Aventine Renewable Energy Holdings, Inc. The plant has an annual production
capacity of 110 million gallons and uses Delta-T technology, similar to the
process already in use at Valero Renewables' ethanol plant in Jefferson, Wis.
The Mount Vernon plant is the 11^th corn ethanol plant in Valero Renewables'
system and its second in Indiana. The addition will give Valero more than 1.3
billion gallons per year in ethanol production. The plant has been shut down
for approximately two years, but Valero Renewables plans to begin a restart
program and resume production within the next several months.
"We're looking forward to hiring employees, restarting the plant and producing
ethanol," said Martin Parrish, Valero's Vice President-Alternative Energy and
Development. "We intend to invest in the Mount Vernon plant to make it
competitive with other top-tier ethanol facilities, and we will use the
technical expertise we have gained at our other plants to look at ways to
improve Mount Vernon's reliability, production rate and product yields."
Aventine Renewable Energy Holdings, Inc., CEO and President Mark Beemer
states: "Aventine's strategic divestiture of the Mount Vernon plant is an
important step in revitalizing and refocusing our portfolio of ethanol assets
at our Pekin, Illinois and Aurora, Nebraska facilities, while also
strengthening our balance sheet. Our team is successfullydelivering on our
aggressive turnaround strategy and is redefining Aventine as a top-tier
The Mount Vernon plant's logistical advantages include ready access to corn
suppliers as well as strong rail, truck and barge transportation. The plant is
at the Port of Indiana-Mount Vernon on a location leased from Ports of
Indiana, the state port authority. That relationship will continue.
"This purchase diversifies Valero Renewables' portfolio of assets and access
to markets, and it will be positive for the Mount Vernon area as well," said
Gene Edwards, who has overseen Valero's ethanol plant acquisitions. "We look
forward to a strong working relationship with Ports of Indiana, and as the
other communities where we have ethanol plants have discovered, Valero is a
great corporate citizen."
Ports of Indiana CEO Rich Cooper lauded the transaction, noting that it is
Valero Renewables' first facility located at a major port on the inland
"This facility will provide Valero with a tremendous strategic advantage in
the production and distribution of ethanol," Cooper said. "This project
combines the resources and expertise of a world-class company like Valero with
one of the world's richest grain producing regions and this port's multimodal
Valero Energy Corporation, through its subsidiaries, is an international
manufacturer and marketer of transportation fuels, other petrochemical
products and power. Valero subsidiaries employ approximately 10,000 people,
and assets include 16 petroleum refineries with a combined throughput capacity
of approximately 3 million barrels per day, 11 ethanol plants with a combined
production capacity of 1.3 billion gallons per year, a 50-megawatt wind farm,
and renewable diesel production from a joint venture. Through subsidiaries,
Valero owns the general partner of Valero Energy Partners LP (NYSE: VLP), a
midstream master limited partnership. Approximately 7,400 outlets carry the
Valero, Diamond Shamrock, Shamrock and Beacon brands in the United States and
the Caribbean; Ultramar in Canada; and Texaco in the United Kingdom and
Ireland. Valero is a Fortune 500 company based in San Antonio. Please visit
www.valero.com for more information.
Aventine Renewable Energy Holdings, Inc. is a leading producer of ethanol in
the United States. Its five ethanol plants, located in Illinois and Nebraska,
produce approximately 350 million gallons of ethanol per year. Aventine
markets and distributes its ethanol and related co-products leading energy and
food companies located in the United States and around the world. Please
visit www.aventinerei.com for more information.
Media: Bill Day, 210-345-2928
John Locke, 210-345-3077
Karen Ngo, 210-345-4574
Brian Steenhard, 309-347-9229, firstname.lastname@example.org
SOURCE Valero Energy Corporation
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