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Grants boost plans for ethanol plant
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Anticipate construction to begin late spring
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January 10, 2007 |
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Kansas City-based Alternative Energy Sources Inc. today announced that the company is being awarded grant money totaling $994,500 that will push forward the company's plans to build its proposed 110-million-gallon ethanol plants near Ogden, IA and Kankakee, IL.
AENS plans to start construction on both plants by late spring and have them in operation by fall 2008.
In Iowa the Department of Transportation has approved a total award of $239,000, including a grant of $144,500 and a loan of $94,500, both to be used for Union Pacific railroad infrastructure.
"This is especially significant because 11 bio-energy projects were vying for grants, and ours is one of only two that were awarded," said Mark Beemer, AENS president and CEO. "Getting the grant is also noteworthy because it puts the stamp of the state of Iowa on our project."
Both Beemer and Blank are former executives of Archer Daniels Midland, the nation's No. 1 ethanol producer.
In Illinois the Kankakee County Board recently voted to approve an $850,000 grant for road improvements for the Kankakee Regional Industrial Park, the proposed site for the plant AENS plans to have in operation by fall 2008.
"We're especially pleased with the board's vote because it clearly shows the county's confidence in our ability to develop our plant in Kankakee," stated Lee Blank, AENS's executive vice president.
Added Joe Franco, chairman of Kankakee County Economic Development Association: "This was not just another ethanol plant. Their technology was outstanding, and you could see this was something special." He was quoted in a Dec. 13 article about the project printed in The Daily Journal of Kankakee.
Appoint McNamara to board
Alternative Energy Sources Inc. today announced the appointment of John D. McNamara, former global president of Archer Daniels Midland, to its board of directors.
McNamara has more than 30 years' experience in the agricultural and food industries in the United States, Canada and around the world. From 1998 to 2002 McNamara served as global president of ADM, a U.S.-based Fortune 100 company and the nation's No. 1 corn processing and ethanol producer.
"Under John's visionary leadership, ADM undertook a massive strategic structural change," stated Mark Beemer, AENS president and CEO. "His focus on building a culture of safety and a disciplined investment process and, most important, his respect for shareholders established a template for successive long-term record profits for ADM."
Added Lee Blank, AENS executive vice president: "We are delighted to have the benefit of John's significant agricultural-processing experience on our board, plus his leadership to assist us in building an outstanding company." Both Beemer and Blank are also former ADM executives.
Currently McNamara is president and CEO of McNamara and Associates, an executive consulting firm based in Toronto, Ontario. He is also president and CEO of Kompass Commodities International Inc., which he founded in 2004. An agricultural and food ingredient brokerage, Kompass focuses on the flow of goods in North American and Europe. Clients include Perdue Farms and Procter & Gamble.
"Alternative Energy Sources is a company being built with a clear vision of the growing global need and opportunity for alternative and renewable fuels," McNamara said. "It's an innovative company with an outstanding experienced management team committed to financial success and serving its stakeholders. I am very pleased to be invited to join such a distinguished board and management team."
McNamara joined ADM in 1985 and held several senior management positions before being promoted to global president. Prior to joining ADM, McNamara was director of marketing for Maple Leaf Monarch, a joint venture company of Unilever and Canadian Pacific, and he held positions in the manufacturing group of Procter & Gamble's North American oilseed-processing division.
McNamara formerly served on the boards of several industry organizations, including the National Oilseed Processors Association, the Canola Council of Canada and the Canadian Institute of Edible Oils. He was also chairman of the Canadian Oilseed Processors Association. Currently he serves on the board of Twin Rivers Technologies and Toxin Alert Inc.
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©The Ogden Reporter 2010
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