Ethanol
IBEC - Renssalaer, Indiana   --   Andersons - Albion, Michigan   --   Andersons - Clymers, Indiana

Rensselaer, Indiana

• Description: 40 million gallon per year corn ethanol facility in northwestern Indiana
• Technology: Construction by Fagen Inc., a leading ethanol plant constructor, using proven ICM technology
• Transaction closed: August 2005
• Start-up: January 18, 2007
• Sold: June 20, 2007

The Iroquois Bio-Energy Company (IBEC), located in Rensselaer, Indiana produced ethanol from corn grown by local farmers and also produced distillers grains, a high quality feed supplement ideal for the region’s growing dairy industry. Ethanol from the plant was blended with gasoline for use in the transportation sector. By reducing gasoline use, ethanol cuts U.S. oil dependence, stimulates the nation’s farm economy, and reduces greenhouse gas emissions.

Albion, Michigan

• Description: 55 million gallon per year corn ethanol facility south of Lansing, Michigan
• Technology: ICM, the leading ethanol technology company is designer and general contractor
• Transaction closed: September 2005
• Start-up: Began full operation in August 2006

A fifty-five million gallon ethanol production facility, currently operating at an annualized rate above sixty million gallons. This facility is located in the most productive corn growing region in Michigan and supplies ethanol to the Detroit, Toledo, Ontario, and East Coast markets.

Clymers, Indiana

• Description: 110 million gallon per year corn ethanol facility north of Indianapolis, Indiana
• Technology: ICM, the leading ethanol technology company is designer and general contractor
• Transaction closed: February 2006
• Start-up: Start-up scheduled April 1, 2007

This facility is located in a highly productive corn growing region in Indiana. Competitive advantages include 4 million bushels of on-site corn storage, unit train rail loading and unloading facilities, Norfolk Southern mainline access, and existing grain processing infrastructure. The facility is well located to provide ethanol to east coast and southeastern markets, as well as to supply Chicago, Indianapolis, and Gary, Indiana via truck.