US BioEnergy Announces Technology Initiative to Increase Expected Production to 780 MGY by the End of 2008
10 Août 2007 - 10:15PM
Business Wire
US BioEnergy Corporation (NASDAQ:USBE), one of the largest ethanol
producers in the United States, announced today that it intends to
utilize US Bio Process Technology� at its Albert City, Hankinson,
Dyersville and Janesville plants. These plant operating
advancements are expected to increase the production capacity at
each of these plants from 100 million gallons per year (MGY) to 120
MGY by the end of 2008. US Bio Process Technology includes a
combination of technology enhancements, engineering improvements,
new training programs and other process improvements that have been
developed over the past three years by US BioEnergy. Utilizing
these process technology enhancements, US BioEnergy has
consistently achieved production levels of 120% of nameplate
capacity at 40 MGY plants it owns or has operated. With four plants
currently in operation and three under construction, US BioEnergy
previously announced an expected production capacity of 600 MGY by
the end of 2008. Factoring in the company�s recently announced
intention to acquire Millennium Ethanol the implementation of the
US Bio Process Technology initiative is expected to result in a
production capacity expansion of 80 MGY, for a total of 780 MGY by
the end of 2008. All of the company�s plants under construction are
fully funded and the deployment of US Bio Process Technology
requires minimal additional capital expenditures. Gordon Ommen, CEO
of US BioEnergy, stated, �US BioEnergy has been executing its
growth strategy through the development of new ethanol facilities
and the acquisition of existing facilities in operation or under
construction. The implementation of this process improvement
initiative represents the third leg of that growth strategy, namely
growth through higher production at our plants. The US Bio Process
Technology initiative represents the culmination of the work of a
very talented and seasoned team of engineers and operators that
understand this business and have applied their collective
expertise in a very focused way to implement a series of
enhancements at each of our plants that we believe will
consistently generate greater output from our plants. Importantly,
these enhancements are expected to be achieved while we continue to
improve on our industry-leading corn to ethanol conversion rates,
which was 2.86 for the six months ending June 30, 2007.� About US
BioEnergy Corporation US BioEnergy Corporation is a producer and
marketer of ethanol and distillers grains. The company currently
owns and operates four ethanol plants and has three additional
ethanol plants under construction, and intends to acquire
Millennium Ethanol, LLC. Upon completion of these initiatives, the
company will own and operate eight plants with combined expected
nameplate ethanol production capacity of 700 million gallons per
year. Forward-looking Statements Certain matters discussed in this
news release are "forward-looking statements." The Private
Securities Litigation Reform Act of 1995 has established that these
statements qualify for safe harbors from liability. Forward-looking
statements may include words like "believe," "anticipate,"
"target," "expect," "pro forma," "estimate," "intend," "guidance"
or words of similar meaning. Forward-looking statements describe
future plans, objectives, expectations or goals. Although US
BioEnergy Corporation believes that its expectations are based on
reasonable assumptions, all forward-looking statements involve risk
and uncertainty. Therefore, actual results could vary materially
from what we expect. Please review our filings the Securities and
Exchange Commission, including Annual Report on Form 10-K for the
year ended December 31, 2006, for important risk factors that could
cause results to differ materially from those in any such
forward-looking statements. Any forward-looking statement speaks
only as of the date such statement was made, and the company does
not undertake any obligation to update any forward-looking
statement to reflect events or circumstances after the date on
which such statement was made except as required by applicable laws
or regulations.
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