Raleigh, NC (PRWEB) July 12, 2006
Dave Brady, Chief Executive Officer of Agri-Ethanol Products, LLC (“AEP”) today announced completion of a financing agreement with a substantial, international company of world wide acclaim. With this agreement, AEP now has financing in place for development of up to 20 renewable energy facilities within the East Coast Region, from the Gulf states to New York.
This agreement positions AEP to aggressively pursue fledgling projects in need of process design, construction, and financing combined with experienced development management expertise.
As a result of this agreement, AEP is expanding its Raleigh headquarters staff by hiring experienced engineering and administrative personnel to process the influx of new project submissions and has contracted with Sites Plus, LLC to assist AEP with the site selection process.
At least two new North Carolina ethanol projects, in addition to the Aurora site, are anticipated as a part of the 20 potential facilities. Each of these facilities will produce 108 million gallons per year of undenatured, fuel grade ethanol; 380,000 tons of high protein DDGS and 320,000 tons of CO2, that will be purified and marketed into the food and beverage industries.
Each facility will employ 65 full time people and will generate approximately $318 million in one time economic activity for the immediate area in which it is located. Construction time required to complete each facility is estimated to take 14 months from start to finish and will involve about 500 people during construction and will require approximately 160 acres.
Agri-Ethanol Products, LLC, is a renewable energy development group focused on bringing about positive use of renewable resources through the use of ethanol and other bio-renewable energy products.
For further information, contact:
Terry A. Ruse, Chief Operating Officer