Aventine Renewable Energy, a leading producer, marketer and supplier of ethanol, today announced that on Sept. 17 the company secured a $40 million loan and security agreement in partnership with AloStar Bank of Commerce in Birmingham, Alabama, and MidCap Financial LLC in Bethesda, Maryland.
Aventine Renewable Energy recently held a ribbon cutting celebration Aug. 15 to mark the completion of a project to replace three aging coal boilers with two new natural gas boilers at its Pekin, Illinois, ethanol production complex.
Valero Renewable Fuels Company LLC, a wholly owned subsidiary of Valero Energy Corp., announced March 21 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.
Aventine Renewable Energy is in the midst of a two-year strategic plan to bring its two ethanol plants located in Pekin, Ill., back up to and above original production levels. That includes a project under way right now, to replace three aging coal boilers with natural gas-fired boilers.
Aventine Takes Steps To Improving Facilities
Aventine Renewable Energy, Inc. has launched a new website ! More news to follow in the coming months.
Aventine is replacing its two coal-fired boilers with two natural gas boilers to provide the wet mill part of the plant with steam. The switch will eliminate 13,000 pounds of sulphur dioxide emissions that currently enter the atmosphere from the plant.