PEKIN, Ill., Nov. 14, 2006 (PRIMEZONE) -- Aventine Renewable Energy Holdings, Inc. (NYSE:AVR), a leading producer, marketer and end-to-end supplier of ethanol, today announced that its subsidiary, Aventine Renewable Energy, Inc, has increased its contracted terminal storage capacity at Motiva's Sewaren and Newark, NJ terminals.
Aventine has increased its capacity for contracted ethanol storage at the Motiva ethanol hub in the New York harbor by 50%, providing storage to handle in excess of 150 million gallons of annual throughput at the facilities. The increase in storage capacity for ethanol will continue to allow Aventine to better service its customers' growing ethanol needs in the Northeast.
Ron Miller, President and CEO of Aventine, said, "This increase in contracted storage capacity furthers our expansion into the all important Northeast corridor. Our distribution footprint continues to expand and is what differentiates us from our competitors. The distribution infrastructure gives our customers' comfort in knowing that the ethanol they need is already being stored locally, and is not subject to potential delays or disruptions in the movement of freight from point to point."
About Aventine
Aventine is a leading producer, marketer and end to end distributor of ethanol in the United States. Aventine produces, markets and distributes ethanol to leading energy companies. In addition to ethanol, it is also a producer of corn gluten feed, corn germ and brewers' yeast.
Internet address is www.aventinerei.com.
Forward Looking Statements
Certain information included in this press release may be deemed to be "forward looking statements" within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release, are forward looking statements. Any forward looking statements are not guarantees of Aventine's future performance and are subject to risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by such forward looking statements. Aventine disclaims any duty to update any forward looking statements. Some of the factors that may cause Aventine's actual results, developments and business decisions to differ materially from those contemplated by such forward looking statements include the following:
-- Changes in or elimination of laws, tariffs, trade or other
controls or enforcement practices such as:
-- National, state or local energy policy;
-- Federal ethanol tax incentives;
-- Regulation currently under consideration pursuant to the
passage of the Energy Policy Act of 2005, which contains
a renewable fuel standard and other legislation mandating
the usage of ethanol or other oxygenate additives;
-- State and federal regulation restricting or banning the
use of Methyl Tertiary Butyl Ether;
-- Environmental laws and regulations applicable to Aventine's
operations and the enforcement thereof;
-- Changes in weather and general economic conditions;
-- Overcapacity within the ethanol and petroleum refining
industries;
-- Total United States consumption of gasoline;
-- Availability and costs of products and raw materials,
particularly corn, coal and natural gas;
-- Labor relations;
-- Fluctuations in petroleum prices;
-- Aventine's or its employees' failure to comply with
applicable laws and regulations;
-- Aventine's ability to generate free cash flow to invest in
its business and service its indebtedness;
-- Limitations and restrictions contained in the instruments
and agreements governing Aventine's indebtedness;
-- Aventine's ability to raise additional capital and secure
additional financing, and our ability to service such debt,
if obtained;
-- Aventine's ability to retain key employees;
-- Liability resulting from actual or potential future
litigation;
-- Competition;
-- Plant shutdowns or disruptions at our plant or plants whose
products we market;
-- Availability of rail cars and barges;
-- Renewal of alliance partner contracts; and
-- Our ability to receive and/or renew permits to construct
and/or commence operations of our proposed capacity additions
in a timely manner, or at all.