KANSAS CITY, Mo., Aug. 15 /PRNewswire-FirstCall/ -- Alternative Energy
Sources Inc. (OTC Bulletin Board: AENS), a Kansas City-based company, today
announced plans to build a 110-million-gallon ethanol plant in Boone
County, Iowa, between Ogden and Beaver in the central part of the state.
The plant will be adjacent to a railroad line. "We have had a very
strong relationship with the Union Pacific Railroad for almost 20 years,
and look forward to capitalizing on 100-car unit train ethanol and dried
distillers' grains capabilities while optimizing supply-chain
efficiencies," said Mark Beemer, president and CEO. Beemer, a native of
Webster City, Iowa, is a former vice president of Archer Daniels Midland's
Grain Division, the nation's No. 1 ethanol producer.
The permitting process will begin with the Iowa Department of Natural
Resources, and the company has secured options to buy 625 acres from five
landowners. "The large footprint will provide AENS great flexibility in
plant design, allowing us to build significant rail infrastructure to
accommodate the high-density Union Pacific mainline," Beemer stated.
"We plan to start construction in six to nine months and have the plant
in operation by fall 2008," added Lee Blank, chief operating officer. Lee
is from Garner, Iowa, and is also a former ADM executive.
Once in operation, the plant will create jobs for 45 to 55 people with
payroll between $2.5 and $3.5 million. Due to the flexibility of the Union
Pacific franchise, the ethanol can be shipped to a multitude of destination
markets, allowing AENS ethanol and DDG market arbitrage opportunities. The
facility will be shipping approximately one unit-train per week.
The company also plans to build additional plants in the Midwest with
each plant expected to produce nearly 100 carloads of ethanol per week.
Beemer said this is the first plant for AENS.
About Alternative Energy Sources Inc.: Formed on June 12, 2006,
Alternative Energy Sources is engaged in the development of "greenfield"
sites, including constructing, owning and operating fuel-grade ethanol
plants. Management team executives Mark Beemer, CEO, and Lee Blank, COO,
have experience in agricultural processing, grain trading, railroad
negotiations, logistical economics and acquisitions. Both have extensive
management and leadership experience, including serving in executive
management positions with agri-processing giant Archer Daniels Midland Co.,
the largest producer of ethanol. Through their cumulative 37-year careers,
they have navigated businesses through three droughts, used extensive
hedging and risk-management strategies, focused on efficient rail and barge
transportation modes, and managed a host of grain elevators and
agricultural processing facilities throughout the Midwest. Blank commented,
"We intend to develop the most comprehensive ethanol manufacturing
leadership team, including all areas of ethanol sales, dried distillers
grains (DDG) merchandising, coal merchandising, plant operations and
transportation/logistical consolidation." For more information go to
http://www.aensi.com.
Forward-Looking Statements: This news release contains "forward-looking
statements" within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
including without limitation those statements regarding the company's
ability to exploit ethanol development and production opportunities. These
statements are expressed in good faith and based upon a reasonable basis
when made, but there can be no assurance that these expectations will be
achieved or accomplished. Although the forward-looking statements in this
release reflect the good faith judgment of management, forward-looking
statements are inherently subject to known and unknown risks and
uncertainties that may cause actual results to be materially different from
those discussed in these forward-looking statements including, but not
limited to, our inability to secure or generate sufficient operating cash
flow to adequately maintain our generating facilities and service our debt,
commodity pricing, intense competition for undervalued generating assets,
environmental risks and general economic conditions. Readers are urged not
to place undue reliance on these forward-looking statements, which speak
only as of the date of this release. We assume no obligation to update any
forward-looking statements in order to reflect any event or circumstance
that may arise after the date of this release, other than as may be
required by applicable law or regulation.
SOURCE Alternative Energy Sources Inc.
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Related links:
http://www.alternativeenergysourcesinc.com
CONTACT:
Susan Pepperdine, Public Relations,
+1-913-262-7414, susan@pepperdinepr.com, for Alternative Energy
Sources, Inc.
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