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AVRW: Shares cancelled as of 7/1/15 & converted into the right to receive consideration for each issued & outstanding share. (i) 1.25 shares of the Company’s non-voting common stock, plus cash in lieu of fractional shares, (ii)1.25 shares of the Company’s common stock plus cash in lieu of fractional shares, or (iii) a combination of Non-Voting Company Common Stock & Company Common Stock converted in accordance with the Exchange Ratio.
The whole industry screwed investors, imo. Look at a five year chart of PEIX- need to go to $200+ for some to recoup the declining shareholder value. AVR- I lost my entire investment of the bankruptcy
Pacific Ethanol to Buy Aventine for $190 Million in Stock
Last update: 31/12/2014 9:37:25 am
By Angela Chen
Biofuel company Pacific Ethanol Inc. agreed to buy Aventine Renewable Energy Holdings Inc. for about $190 million in stock, a deal that would make the company the fifth-largest ethanol producer in the U.S.
With the deal, which comes amid a sharp gas-price slump, Sacramento-based Pacific Ethanol (PEIXD) , already the largest producer of low-carbon fuels in the western U.S., would expand its reach into the Midwestern and Eastern markets currently served by Illinois-based Aventine (AVRW) . Ethanol is a renewable fuel made from plants, often corn, and is one of the most popular sources of alternative energy.
"This transaction will more than double our annual ethanol production capacity," said Chief Executive Neil Koehler. The combined company will have a total ethanol production capacity of 515 million gallons a year, and will sell over 800 million gallons of ethanol annually.
Koehler added the deal is expected to immediately add to earnings. Pacific Ethanol will issue about 17.75 million shares in exchange for all of Aventine's common stock.
Pacific Ethanol shareholders will own about 58% of the stock of the combined company. Aventine, which will be operated as a wholly-owned unit, will nominate two representatives for Pacific Ethanol's board, increasing the total count to nine.
HUGE-NEWS: Pacific-Ethanol Enters-Into Merger-Agreement With Aventine Renewable Energy Holdings, Inc., Expanding Its Unique Production and Marketing Advantages Into New Markets
Last update: 31/12/2014 8:30:07 am
Pacific Ethanol Enters Into Merger Agreement With Aventine Renewable Energy Holdings, Inc., Expanding Its Unique Production and Marketing Advantages Into New Markets
Merger Connects Destination and Origin Market Strategies, Providing Synergies in
Ethanol Production and Marketing -
- Annual Combined Production Capacity of 515 Million Gallons -
- Combined Annual Ethanol Marketing Volume of Over 800 Million Gallons -
- Transaction Expected to Close in Q2 2015 -
- Conference Call to Discuss Transaction on Wednesday, January 7(th) at 1:30 p.m. PT -
SACRAMENTO, Calif., Dec. 31, 2014 (GLOBE NEWSWIRE) -- Pacific Ethanol, Inc. (Nasdaq:PEIX), the leading producer and marketer of low-carbon renewable fuels in the Western United States, and Aventine Renewable Energy Holdings, Inc. ("Aventine"), a Midwest-based producer of ethanol and related co-products, announced they have entered into a definitive merger agreement under which Pacific Ethanol will acquire all of Aventine's outstanding shares in a stock-for-stock merger transaction.
"With this transaction, Pacific Ethanol strengthens its unique production and marketing advantages by diversifying into two additional discrete markets and connecting its Western markets with Aventine's Midwest and Eastern markets for low-carbon renewable fuels," said Neil Koehler, CEO of Pacific Ethanol. "The merger offers a rare opportunity to combine the experience, market presence and diversification that Aventine brings with our industry leadership in Western US markets. It will complement our existing business as we balance assets across new regional markets, expand our footprint for the production and marketing of low-carbon renewable fuels, diversify our technology and increase our mix of co-products."
"This transaction will more than double our annual ethanol production capacity, and it will establish Pacific Ethanol as the fifth largest producer and marketer of ethanol in the United States. Once closed, we expect the transaction to be immediately accretive to earnings with expected operational synergies and the expansion of our ethanol and co-product marketing business. We are impressed with the both the quality of Aventine's assets and the seasoned employees operating the business, and we look forward to integrating our teams," concluded Koehler.
"In late 2012, the new Aventine management team defined a very aggressive turnaround strategy," stated Mark Beemer, CEO of Aventine. "Our mission has been accomplished with our plants achieving five new production records; over $30 million invested in the Pekin facilities, including coal-to-natural gas conversion; and additional capital investments in our Nebraska facilities. In 2014, Aventine achieved record earnings and successfully restarted its 155 million gallons of ethanol production in Nebraska. We look forward to making a successful transition of the business to Pacific Ethanol and bringing the combined strength of the two companies to the market."
Under the terms of the merger agreement, Pacific Ethanol expects to issue approximately 17.75 million shares of its common stock upon closing in exchange for all of the issued and outstanding shares of Aventine's common stock. Upon completion, existing Pacific Ethanol shareholders will own approximately 58% of the issued and outstanding shares of common stock of the combined entity, and Aventine will nominate two representatives to be named later to Pacific Ethanol's board of directors, increasing the total board count to nine.
Aventine will be operated as Pacific Ethanol's wholly-owned subsidiary. Aventine currently has $135 million in term loan debt.
Aventine's ethanol production assets include its 100 million gallon per year wet mill and 60 million gallon per year dry mill located in Pekin, Illinois, and its 110 million gallon per year and 45 million gallon per year dry mills in Aurora, Nebraska. Combined with Pacific Ethanol's current ethanol production capacity of 200 million gallons per year, the combined company will have a total ethanol production capacity of 515 million gallons per year, and together with Pacific Ethanol's marketing business will sell over 800 million gallons of ethanol annually.
The closing of the transaction, which is expected to occur during the second quarter of 2015, is subject to customary and other closing conditions and regulatory approvals, as well as the approval of Pacific Ethanol's and Aventine's shareholders.
For Pacific Ethanol, Troutman Sanders LLP served as legal advisors and Craig-Hallum Capital Group LLC provided a fairness opinion to the Board of Directors of Pacific Ethanol. For Aventine, Akin Gump Strauss Hauer & Feld LLP served as legal advisors and RPA Advisors, LLC served as financial advisors.
Conference Call
The Company will host a conference call and live webcast on Wednesday, January 7(th) at 1:30 p.m. Pacific Time to discuss the merger. To participate, interested parties should dial 1-877-847-6066 in the United States or 1-970-315-0267 from international locations, conference ID 60307901. A webcast of the conference call will be available at www.pacificethanol.net/investors with an accompanying slide presentation that may be accessed on that page and through the webcast link.
A playback of the call will be available until January 14(th) by dialing 1-855-859-2056 within the United States or 1-404-537-3406 from international locations, passcode 60307901.
About Pacific Ethanol, Inc.
Pacific Ethanol, Inc. (PEIX) is the leading producer and marketer of low-carbon renewable fuels in the Western United States. Pacific Ethanol also sells co-products, including wet distillers grain ("WDG"), a nutritional animal feed. Serving integrated oil companies and gasoline marketers who blend ethanol into gasoline, Pacific Ethanol provides transportation, storage and delivery of ethanol through third-party service providers in the Western United States, primarily in California, Arizona, Nevada, Utah, Oregon, Idaho and Washington. Pacific Ethanol has a 96% ownership interest in PE Op Co., the owner of four ethanol production facilities. Pacific Ethanol operates and manages the four ethanol production facilities, which have a combined annual production capacity of 200 million gallons. These operating facilities are located in Boardman, Oregon, Burley, Idaho, Stockton, California and Madera, California. The facilities are near their respective fuel and feed customers, offering significant timing, transportation cost and logistical advantages. Pacific Ethanol's subsidiary, Kinergy Marketing LLC, markets ethanol from Pacific Ethanol's managed plants and from other third-party production facilities, and another subsidiary, Pacific Ag. Products, LLC, markets WDG. For more information please visit www.pacificethanol.com.
Statements contained in this communication that refer to Pacific Ethanol's estimated or anticipated future results, including estimated synergies, or other non-historical expressions of fact are forward-looking statements that reflect Pacific Ethanol's current perspective of existing trends and information as of the date of this communication. Forward looking statements generally will be accompanied by words such as "anticipate," "believe," "plan," "could," "should," "estimate," "expect," "forecast," "outlook," "guidance," "intend," "may, " "might," "will," "possible," "potential," "predict," "project," or other similar words, phrases or expressions. Such forward-looking statements include, but are not limited to, statements about the benefits of the acquisition of Aventine, including future financial and operating results, Pacific Ethanol's or Aventine's plans, objectives, expectations and intentions and the expected timing of completion of the transaction. It is important to note that Pacific Ethanol's goals and expectations are not predictions of actual performance. Actual results may differ materially from Pacific Ethanol's current expectations depending upon a number of factors affecting Pacific Ethanol's business, Aventine's business and risks associated with acquisition transactions. These factors include, among others, the inherent uncertainty associated with financial projections; restructuring in connection with, and successful closing of, the Aventine acquisition; subsequent integration of the Aventine acquisition and the ability to recognize the anticipated synergies and benefits of the Aventine acquisition; the ability to obtain required regulatory approvals for the transaction (including the approval of antitrust authorities necessary to complete the acquisition), the timing of obtaining such approvals and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the transaction; the ability to obtain the requisite Pacific Ethanol and Aventine stockholder approvals; the risk that a condition to closing of the Aventine acquisition may not be satisfied on a timely basis or at all; the failure of the proposed transaction to close for any other reason; risks relating to the value of the Pacific Ethanol shares to be issued in the transaction; the anticipated size of the markets and continued demand for Pacific Ethanol's and Aventine's products; the impact of competitive products and pricing; the risks and uncertainties normally incident to the ethanol production and marketing industries; the difficulty of predicting the timing or outcome of pending or future litigation or government investigations; changes in generally accepted accounting principles; costs and efforts to defend or enforce intellectual property rights; successful compliance with governmental regulations applicable to Pacific Ethanol's and Aventine's facilities, products and/or businesses; changes in the laws and regulations; changes in tax laws or interpretations that could increase Pacific Ethanol's consolidated tax liabilities; the loss of key senior management or staff; and such other risks and uncertainties detailed in Pacific Ethanol's
timhyma: I hadn't seen U on the motherboard in a long time, and was surprised to see you were on this board a few years ago. A familiar "face" in an unfamiliar place! Regards.
timhyma: Do U know whether they have the same CEO? The current CEO's credentials are first class. I don't know whether you read the VM energy board, but ethanol looks really good as an investment. The crush spread between corn prices and ethanol prices is very good. I started a position in this stock last wek.
Tim: Hello! Did U give up on this stock? I recently discovered it and started a position. I think the CEO is high quality and I like the fact that they are converting two plants to ngas energy generation. And the OS count is a dream.
It isn't a pure play on ethanol, but it is close enough, imo.
Aventine Renewable Energy Holdings, Inc. Sets Date and Time for Third Quarter 2011 Financial Results | 11:21 AM |
10-31-2011 OTC and PINK News.
DALLAS, Oct. 31, 2011 (GLOBE NEWSWIRE) -- Aventine Renewable Energy Holdings, Inc. (OTCBB:AVRW), a leading producer of clean renewable energy, announced today that it will be releasing its third quarter 2011 earnings on Tuesday, November 8, 2011, after the market closes. Related News: Similar Content
Hey ...you all can call me stupid, but the exercise on the warrant was 40.94...for each warrant exercised one share will be issued...ok and today if i exerecised them today can i exercise them at 27?? 23?? 5?? at whatever price they settle at?? or no matter what price they are on the stock exchange i still pay $40.94???
Everyone who has these worthless warrants needs to write a letter to the court before it is too late.
When these guys steal 100% of your $$$$, you will only have yourself to blame. A short letter takes 20 minutes, and a couple of bucks to mail using certified mail.
TOGETHER WE CAN STOP THESE THIEVES!
Here are the addresses and suggestions on what to include in the letter.>>>
I SENT A LETTER. THE LAST 2 LETTERS FROM STOCKHOLDERS ARE "JOINDERS" TO UST OBJECTION. MAYBE UST IS GETTING READY TO GO AFTER FRAUD COMMITTED BY THE 2 HEDGE FUNDS AND HOULIHAN.
Everyone who has these worthless warrants needs to write a letter to the court before it is too late.
When these guys steal 100% of your $$$$, you will only have yourself to blame. A short letter takes 20 minutes, and a couple of bucks to mail using certified mail.
TOGETHER WE CAN STOP THESE THIEVES!
Here are the addresses and suggestions on what to include in the letter.
AVR's restructuring advisor has big conflicts with hedge funds who stole our stock from us. US Trustee is making the conflict case for us by objecting to the advisors fees.
If you have warrants, write to BK judge and complain about the conflict and tainted POR the advisor put together to benefit their hedge fund/bondholder buddys and screw us. If enough stockholders write, the BK court might be forced to redo the POR.
Addresses to send complaint letter to at this Yahoo page
The above-listed stock is part of a non-mandatory reorganization or tender offer, which currently expires on 03/13/2015.
Where to find more information: For offers initiated by the company, information can often be found on the company's Web site. If the offer was initiated by a third party, additional information can be obtained by contacting your local branch office. For mini-tender offers, the US Securities and Exchange Commission has urged caution. To review an SEC educational piece entitled "Mini-Tender Offers: Tips for Investors," please go to http://www.sec.gov/investor/pubs/minitend.htm If you decide to participate in this offer, you will need to inform your local Scottrade branch office no later than 10 a.m. ET on the expiration date listed above, and a $25 fee will be charged to your account. These shares must then remain in your account until the reorg/tender takes place. Please note that the expiration date for such actions is often extended and terms of the offer are subject to change.
Scottrade is not endorsing or recommending the offer, and the terms have not been reviewed to determine if accepting the offer would be in your best interest. If you do not wish to participate in this offer, notification is not required and Scottrade will take no action on your behalf.
Please do not reply to this message - contact your local branch office for assistance.
Aventine Renewable Energy Holdings, Inc. (the “Company”), through its wholly-owned subsidiaries Aventine Renewable Energy — Aurora West, LLC and Aventine Renewable Energy — Mt. Vernon, LLC, entered into separate, but substantially identical short form contracts (the “Short Form Contracts”) with Fagen, Inc. (“Fagen”) to construct ethanol facilities in Aurora, Nebraska (the “Aurora Agreement”) and Mount Vernon, Indiana (the “Mt. Vernon Agreement”) (the “Ethanol Facilities”). The Company entered into the Aurora Agreement on April 23, 2010, and the Mt. Vernon Agreement on May 4, 2010. Under the terms of the Short Form Contracts, Fagen will provide labor, construction equipment and construction consumables necessary to complete the Ethanol Facilities in accordance with the Company’s design and specifications. The targeted cost of completion under the Aurora Agreement is approximately $25.1 million. The targeted cost of completion under the Mt. Vernon Agreement is approximately $21.4 million. The Company may order changes in the work done under the Short Form Contracts, and, consequently, the contract sums may be adjusted accordingly.
The Short Form Contracts were entered into with the express intention that the contracts did not reflect the full and final agreement of the parties. The Short Form Contracts state that if the parties are unable to come to final terms as of May 10, 2010, with respect to the Aurora Agreement and as of May 17, 2010, with respect to the Mt. Vernon Agreement, then Fagen has the right to terminate the agreements and be paid for costs incurred to that date plus a fee in the amount of 15% of all costs. With regard to the Aurora Agreement, the Company and Fagen entered into a final agreement on May 14, 2010, and Fagen did not indicate its desire to require payment for costs incurred thereunder.
Fagen may terminate the respective Short Form Contract if work is stopped by any public authority for 30 days or more through no fault of Fagen or if the Company fails to pay Fagen any payment within 30 days after it is due, upon seven days’ written notice to the Company. Fagen will be entitled to request reimbursement for costs incurred under certain agreed upon circumstances. If the Company wrongfully refuses to accept such costs within seven days of receipt of Fagen’s requests, upon seven days’ written notice to the Company, Fagen may terminate the respective Short Form Contract. The Company may, upon seven days’ written notice, terminate the respective Short Form Contract if Fagen defaults in its performance of the construction or violates any of the provisions of the respective Short Form Contract.
There is no material relationship between Fagen and the Company other than as set forth above.
Any level 2 people here know if AVRW trading is suspended? Seems like nothing moving in a week. Also not finding how many shares of AVRW there are? Not getting any answers from broker either. Thanks.
Executive Officer Employment Agreement and Equity Awards
On May 5, 2010 (the “Effective Date”), the Company and John W. Castle entered into an employment agreement (the “Castle Employment Agreement”) with a term beginning on the Effective Date and expiring on December 31, 2012. The terms of the Castle Employment Agreement provide for, among other things, (i) a base annual salary of $350,000, (ii) a guaranteed minimum 2010 bonus of $350,000, and after 2010, an annual bonus with a target of at least 100% of Mr. Castle’s base salary and an opportunity to earn an incentive bonus of up to another 100% of Mr. Castle’s base salary each year, in each case based on attainment of performance metrics as determined by the Chief Executive Officer of the Company and approved by the Board of Directors of the Company (the “Board”) or the compensation committee of the Board.
In addition, pursuant to the Castle Employment Agreement, Mr. Castle was awarded options to purchase 100,000 shares of common stock of the Company, par value $0.001 per share (the “Common Stock”), with an exercise price equal to the per share fair market value of the Common Stock on the Effective Date, as determined by the Board (the “Options”), and 25,000 restricted shares of Common Stock (the “Restricted Stock,” and together with the Options, the “Equity Awards”) granted pursuant to the Company’s 2010 Equity Incentive Plan as in effect on March 15, 2010. 50% of the Options and 50% of the Restricted Stock will vest in three equal installments on each of the first two anniversaries of the Effective Date and December 31, 2012, subject to Mr. Castle’s continuing employment with the Company. 50% of the Options and 50% of the Restricted Stock will vest subject to the attainment of reasonable performance criteria to be determined by the Board. The options will expire on the ten year anniversary of the Effective Date (the “Option Term”). Notwithstanding the foregoing, in the event of (i) a “Change of Control” (as defined in the Castle Employment Agreement) of the Company, 100% of the Equity Awards will vest, and the Options will remain exercisable for the remainder of the Option Term or (ii) a termination of Mr. Castle’s employment by the Company without “Cause,” or Mr. Castle’s resignation with “Good Reason” (each as defined in the Castle Employment Agreement), 100% of the Equity Awards will vest, and the Options will remain exercisable for a period following the date of termination of (x) 90 days following a termination by Mr. Castle for Good Reason and (y) 12 months following a termination by the Company without Cause. Any vested Options held by Mr. Castle as of his termination will remain exercisable for the applicable periods delineated in the Castle Employment Agreement.
Upon termination without Cause or for Good Reason, Mr. Castle is entitled to receive (i) any accrued but unpaid base salary, (ii) any earned but unpaid bonus, (iii) reimbursement for any business expenses, (iv) payment for his accrued but unused vacation, (v) vested accrued benefits to which Mr. Castle is entitled under the Company’s employee benefit plans and programs applicable to Mr. Castle and (vi) subject to Mr. Castle’s signing a general release of claims in the form attached to the Castle Employment Agreement (a) a pro-rata bonus for the year of termination, (b) during the contract term, a lump sum payment equal to the sum of his base salary and bonus and (c) the costs of continued health benefits for a period of 12 months. The Castle Employment Agreement also restricts Mr. Castle from (i) competing with the Company for 12 months following termination, (ii) soliciting any of the Company’s current employees for 12 months following termination and (iii) disparaging the Company for three years following termination.
Shares bought before or after the BK are all the same class of shares. All common stock to receive warrants according to POR. Warrants have a strike price of 40.96.
http://ih.advfn.com/p.php?pid=nmona&article=42639308&symbol=NO%5EAVRW The Reporting Persons received knowledge of the percentage of their beneficial ownership in the shares that are the subject of this Schedule 13G on April 21, 2010. The Principals may be deemed to beneficially own an aggregate of 474,054 shares as a result of their voting and dispositive power over the 474,054 shares directly owned by DKP, DKIP, CO, DKIL, DKDOF and DKDOI. The percentages used in this Schedule 13G are calculated based upon 6,614,980 shares of Common Stock which the Reporting Persons believe to be issued and outstanding.
Did anyone buy the common stock after the bankruptcy and still receive the warrants? Or did you have to own the stock prior to the bankruptcy filing to get the warrants?
fwiw,closed @ 44.00 today, $3.06 profit per warrant,lol break even above $65?
i'm sure u know this already but just for general info then.
Warrant Agreement
Pursuant to the Plan and Confirmation Order, on the Effective Date, the Company entered into a Warrant Agreement (the “Warrant Agreement”) with American Stock Transfer & Trust Company, LLC, as warrant agent (the “Warrant Agent”). Pursuant to the Warrant Agreement, the Company will issue warrants to purchase an aggregate of 450,000 shares of common stock, par value $0.001 per share, of the Company (“Common Stock”), subject to adjustment for, among other things, the matters described below (the “Warrants”). The Warrants will expire on the fifth anniversary of the Effective Date or, if earlier, in connection with the consummation of a change of control of the Company (the “Expiration Date”); provided that the Company may accelerate the Expiration Date in certain circumstances as set forth in the Warrant Agreement.
Each Warrant entitles its holder to purchase one share of Common Stock at an exercise price of $40.94 (the “Exercise Price”), subject to adjustment for, among other things, the matters described below. Except as otherwise set forth in the Warrant Agreement, Warrants may be exercised at any time after issuance until the Expiration Date. Holders that elect to exercise the Warrants must do so by (i) providing written notice of such election to the Warrant Agent prior to the Expiration Date, in the form prescribed in the Warrant Agreement, (ii) surrendering to the Warrant Agent the certificate evidencing such Warrants and (iii) (x) paying the applicable exercise price for all Warrants being exercised or (y) if a change of control or similar transaction occurs where the Warrants would become exercisable for cash, in lieu of paying the Exercise
4
Price, notify the Warrant Agent that such holder elects to receive a cash payment equal to the net amount payable in such transaction with respect to the number of shares such Warrants are being exercised for in excess of the Exercise Price for all such Warrants.
Holders of the Warrants (solely in their capacity as a holder of Warrants) are not entitled to any rights as a stockholder of the Company, including, without limitation, the right to vote, receive notice of any meeting of stockholders or receive dividends, allotments or other distributions. The number of shares of Common Stock for which a Warrant is exercisable and the Exercise Price are subject to adjustment from time to time upon the occurrence of certain customary adjustment events.
In addition, upon the occurrence of certain events constituting a merger of the Company into or a consolidation of the Company with another entity, or a sale of all or substantially all of the Company’s assets, or a merger of another entity into the Company, or similar event, each holder of a Warrant will have the right to receive, upon exercise of a Warrant (if then exercisable), an amount of securities, cash or other property receivable by a holder of the number of shares of Common Stock for which a Warrant is exercisable immediately prior to such event.
The above summary of the Warrant Agreement and the Warrants is qualified in its entirety by reference to the text of the Warrant Agreement and form of warrant certificate, copies of which are attached hereto as Exhibit 4.4 to this Current Report on Form 8-K and are incorporated herein by reference.
This account is presently holding a position in AVRNQ stock. This position is in the process of being converted into a warrant position at a conversion rate of .010353 for every one share of AVRNQ held. These warrants do not appear to be tradable but are exercisable at a price of 40.94. The underlying security for these warrants will be reflected as AVRW. This security is not actively traded at the moment and is reflecting a last trade price of approximately 40.50. This change will be effective this evening.
Although we do not expect any effective difference in excess liquidity in accounts holding the affected position, please monitor the account and manage any resulting market risk as is most appropriate.
FYI to all: This is a question I sent into scottrade:
Can you explain what this is- 4/5/2010 AVRNQ# STOCK DELIVERED OUT: 5000 SHARES OF AVRNQ#
This was the answer:
Dear Client:
Thank you for your e-mail.
The securities have been deemed worthless and have not been trading since 3/16/2010. (FINRA NOTICE DTD 3/16/10)
Those shares have been transferred out of client's accounts.
If you need further clarification, please contact your local Scottrade office for assistance. The staff in the local office will be glad to help you. You may obtain the telephone number of your local Scottrade branch office through our home page in the Branch Locator.
Sincerely, Joe A. National Service Center | Scottrade, Inc. Phone: 1.800.619.SAVE www.scottrade.com
and for curiosity, we get warrants, they entitle us to what? how many shares? a price? a chance? a wish? lol...For example, if i held 1000 CS... does it entitle to me to warrants? how many,,,??? Jesus, i should have stayed away from the Biofuel play. Some Help here in simple terms please?
Aventine Renewable Energy, Inc. is a leading producer and marketer of ethanol and related by-products. Through our own production facilities, marketing alliances with other ethanol producers and our purchase and resale operations, we market and distribute ethanol to many of the leading energy companies in the U.S. In fact, last year we supplied almost 696 million gallons of the Country's ethanol needs.
We are proud to be one of the leading innovators in the renewable energy field. The products we sell help reduce our country's dependence on foreign oil, benefit the environment by reducing pollutants and improve automobile performance by increasing octane.
In addition to ethanol, we also produce and market several by-products (both bio-products and co-products), including; corn gluten feed and meal, corn germ, condensed corn distillers solubles, dried distillers grain with solubles, wet distillers grain with solubles, carbon dioxide and brewers' yeast. Aventine is also a marketer and distributor of bio diesel.
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