Welcome!

News Feed Item

Valero Purchases 11th Ethanol Plant

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 11th 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 successfully delivering on our aggressive turnaround strategy and is redefining Aventine as a top-tier ethanol producer."

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 waterway system.

"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 capabilities."

About Valero:

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.

About Aventine:

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.

CONTACTS
Valero
Media:  Bill Day, 210-345-2928
Investors:
John Locke, 210-345-3077
Karen Ngo, 210-345-4574

Aventine
Brian Steenhard, 309-347-9229, [email protected]

SOURCE Valero Energy Corporation

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, pane...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
SYS-CON Events announced today that Outscale will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outscale's technology makes an automated and adaptable Cloud available to businesses, supporting them in the most complex IT projects while controlling their operational aspects. You boost your IT infrastructure's reactivity, with request responses that only take a few seconds.
SYS-CON Events announced today that Loom Systems will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in S...
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing bes...
SYS-CON Events announced today that DivvyCloud will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. DivvyCloud software enables organizations to achieve their cloud computing goals by simplifying and automating security, compliance and cost optimization of public and private cloud infrastructure. Using DivvyCloud, customers can leverage programmatic Bots to identify and remediate common cloud problems in rea...
SYS-CON Events announced today that Tintri, Inc, a leading provider of enterprise cloud infrastructure, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Tintri offers an enterprise cloud platform built with public cloud-like web services and RESTful APIs. Organizations use Tintri all-flash storage with scale-out and automation as a foundation for their own clouds – to build agile development environments...
SYS-CON Events announced today that Progress, a global leader in application development, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Enterprises today are rapidly adopting the cloud, while continuing to retain business-critical/sensitive data inside the firewall. This is creating two separate data silos – one inside the firewall and the other outside the firewall. Cloud ISVs ofte...
SYS-CON Events announced today that Tappest will exhibit MooseFS at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. MooseFS is a breakthrough concept in the storage industry. It allows you to secure stored data with either duplication or erasure coding using any server. The newest – 4.0 version of the software enables users to maintain the redundancy level with even 50% less hard drive space required. The software func...
SYS-CON Events announced today that Interoute has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Interoute is the owner operator of Europe's largest network and a global cloud services platform, which encompasses over 70,000 km of lit fiber, 15 data centers, 17 virtual data centers and 33 colocation centers, with connections to 195 additional partner data centers. Our full-service Unifie...
SYS-CON Events announced today that EARP will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. "We are a software house, so we perfectly understand challenges that other software houses face in their projects. We can augment a team, that will work with the same standards and processes as our partners' internal teams. Our teams will deliver the same quality within the required time and budget just as our partn...
SYS-CON Events announced today that Carbonite will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Carbonite protects your entire IT footprint with the right level of protection for each workload, ensuring lower costs and dependable solutions with DoubleTake and Evault.
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in compute, storage and networking technologies, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/...