Aventine Renewable Energy Emerges from Bankruptcy and Restarts Construction on Two Ethanol Plants

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Researched by Industrial Info Resources (Sugar Land, Texas)--Publicly held ethanol company Aventine Renewable Energy, Incorporated (Pekin, Illinois) voluntarily filed for bankruptcy in February 2009. Since that time, Aventine maintained operations under debtor-in-possession financing. On Tuesday, Aventine's new chief executive officer, Thomas Manuel, announced that the company has resurfaced from bankruptcy.

The emergence has enabled Aventine to recommence construction of the company's two mostly completed ethanol plants in Mount Vernon, Illinois, and Aurora, Nebraska. Talks are under way to select contractors for the projects. If all goes well, construction will restart in April and both plants will be up and running by September.

The Mount Vernon plant is off of Southwind Port and Highway 62 in Hamilton County, about 80 miles southeast of St. Louis, Missouri. The plant's production capacity is 50 million gallons annually from a feedstock of grain that will have about 50 employees.

The Aurora, Nebraska, plant is located on South "O" Road in Hamilton County, about 70 miles west of Lincoln, Nebraska. This plant's production capacity is 113 million gallons annually from corn feedstock, and it will have about 30 employees.

Industrial Info's Ethanol Database provides a comprehensive outline of all current development activities in the emerging alternative fuels market. This database covers 177 ethanol plants in operation and 530 plants under development. It also covers 145 operational biodiesel plants and 245 biodiesel plants under development.

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