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Itera has recently become an equity investor in BioEnergy International, LLC BioEnergy International, LLC is a privately held biotechnology company focused on developing multiproduct biorefineries and proprietary technologies to produce ethanol and specialty chemicals from traditional feedstock and waste biomass. BioEnergy has an experienced and multi-disciplined management team with a combined 80 years of industry experience. The Company has two conventional technology ethanol projects underway in Lake Providence, Louisiana and Clearfield County, Pennsylvania. The Lake Providence facility is a 108 million gallon per year ethanol plant located on the Mississippi River in the middle of the two leading corn-producing districts in Louisiana. The site preparation and infrastructure work at the Lake Providence facility began in May 2006. Full construction is expected to commence in the first quarter of 2007, and the plant is expected to commence operations in the first quarter of 2009. The Pennsylvania facility will be BioEnergy’s second 108 million gallon per year ethanol plant and will be located in Clearfield County, Pennsylvania. The plant will be strategically located near biomass materials. Full construction is expected to commence in the third quarter of 2007 and the plant is expected to commence operations in the second quarter of 2009. The Clearfield facility has an off-take agreement for 100% of the production BioEnergy’s research and development team is focused on next generation biorefineries that will process grain or biomass crops into a full range of products, including plastics and chemicals. The Company continues to extend its technological lead in biomass refinery process technologies with exclusive worldwide rights to new technologies developed by Dr. Lonnie Ingram at the University of Florida. BioEnergy has obtained early stage validation of its technology platform via a sublicense of its proprietary organism to produce D-Lactic Acid to Purac Biochem, NV, the largest lactic acid producer in the world. |
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