May 2006

 

US BioEnergy to acquire Val-E Ethanol LLC

Brookings, SD— US BioEnergy Corporation announced it has entered into a letter of intent with the minority owners of Val-E Ethanol, LLC to acquire the remaining ownership interest of the company.

Val-E was formed to develop a 45 million gallon per year (mgy) ethanol plant located near Ord, Nebraska. Last month US BioEnergy announced its intention to acquire the majority ownership of Val-E and Platte Valley Fuel Ethanol, LLC.

Val-E Ethanol is currently under construction with an expected completion date of summer, 2007.

US BioEnergy currently has two ethanol plants under construction, US Bio Albert City, a 100 million gallons/year (mgy) plant in Iowa and US Bio Woodbury, a 45 mgy plant in Michigan. In addition, US Bio Janesville, a 100 mgy plant in Minnesota and US Bio Hankinson, a 100 mgy plant in North Dakota are under development. Additional acquisitions are pending or under consideration.

 


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