Agri-Ethanol Products Announces $150 Million Ethanol Plant For Beaufort County, North Carolina

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This will be the first ethanol plant in North Carolina and the first on the east coast.

Dave Brady, managing member of Agri-Ethanol Products, LLC (AEP) today announced the location of a $150 million ethanol plant to be located in Beaufort County, near Aurora, North Carolina. Mr. Brady thanked Governor Easley for the assistance that the state of North Carolina provided in making the plant possible. He also expressed his sincere appreciation to Secretary of Commerce, Jim Fain, Secretary of Revenue, Norris Tolson, Senator Marc Basnight, Representative Arthur Williams, Representative Joe Tolson, Larry Shirley and NC Department of Energy, the Northeast Partnership, Tom Thompson and the Beaufort County Economic Development Commission, the Town of Aurora and Roseview Capital.

The plant will produce 114 million gallons of ethanol per year as well as co-products consisting of distillers dried grains with solubles (DDGS) and CO2. This will be the first ethanol plant in North Carolina and the first on the East Coast of the United States.

The ethanol production will be delivered in each of two, 57 million gallon per year phases, with the co-products output doubling accordingly. Phase I ground breaking and construction start-up is expected during the first quarter of ’06. Approximately $2 million will be utilized through various grant sources from the State to facilitate rail improvements critical to the operation of the plant.

Mr. Brady stated that there will be 74 people involved in the ethanol and CO2 production at the site, with several hundred more jobs related to indirect employment such as delivery of grain, shipment of ethanol, the distribution of the DDGS and CO2.

AEP’s plant will consume in excess of 20 million bushels of grain per year for each phase and can use corn or grain sorghum interchangeably. An additional crop, hull-less barley, is expected to be integrated into the operation of the facility at some date in the future, as will bio-diesel production.

About Agri-Ethanol Products, LLC:

Agri-Ethanol Products, LLC, is an energy development group focused on bringing about positive use of renewable resources through the use of ethanol products. The Beaufort County facility is the first of three planned renewable fuel ethanol plants.

For further information, contact:

Terry Ruse, General Manager

http://www.aepnc.com

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Terry Ruse
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