Indiana Bio-Energy Loading Rail Cars and Running at Full Capacity at New Fuel-Ethanol Plant

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Researched by Industrial Info Resources (Sugar Land, Texas)--Indiana Bio-Energy LLC (Bluffton, Indiana), an investor-owned ethanol start-up, has been grinding corn for about four weeks and is producing ethanol and loading rail cars in anticipation of shipping its first rail car delivery of ethanol into the market.

Construction of the 100 million-gallon-per-year plant started in November 2006 and utilized the design-build team of ICM Incorporated (Colwich, Kansas) and Fagen Incorporated (Granite Falls, Minnesota). All of the equipment is running at full capacity. The first corn grind took place back in late September, and it took only 50 hours for the first drops of ethanol to begin pouring from the plant.

The estimated $150 million plant will process more than 38 million bushels of Indiana corn per year and produce distillers dried grains, a byproduct of ethanol production. The ethanol produced at the plant will be marketed by Aventine Renewable Energy Holdings Incorporated (NYSE:AVR) (Pekin, Illinois) and the distillers grains by CHS Incorporated (NASDAQ:CHSCP) (Inver Grove Heights, Minnesota).

The plant is located on a 400-acre site at 1441 South Adams St. in Bluffton, about 20 miles south of Fort Wayne in Wells County.

Just yesterday, Indiana Bio-Energy's majority shareholder, Virgin Bioverda LLC (Chicago, Illinois), which also holds a majority interest in Ethanol Grain Processors' plant currently under construction near Obion, Tennessee, announced that an agreement had been reached to merge with Green Plains Renewable Energy Incorporated (NASDAQ:GPRE) (Shenandoah, Iowa). Green Plains' shareholders will hold a final vote on the merger proposal at a special meeting to be held Friday, October 10.

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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