Notícias sobre as empresas
Notícias sobre as empresas
E Energy Adams Announces Purchase of Junior Subordinated Notes by Gavilon
12.08.09
Print ArticleEthanol Producer also Signs Five-Year Exclusive Marketing Agreement with Gavilon
ADAMS and OMAHA--E Energy Adams, LLC announced today the purchase of $4.0 million of convertible junior subordinated notes by Gavilon, LLC. Gavilon will have the option to convert the notes into equity in the ethanol production facility. E Energy intends to restructure debt and fund working capital and capital projects with the proceeds. The companies also signed a five-year marketing agreement providing Gavilon exclusive rights to market all of the ethanol and dried distillers grains (DDGs) produced by the ethanol plant.
"We are excited about Gavilon's investment in E Energy Adams," said Carl Sitzmann, chief executive officer of E Energy. "We have been very satisfied with Gavilon's performance as our ethanol marketer over the past 14 months and look forward to continuing and enhancing our partnership in the years to come."
Tom Ramsey, Gavilon's chief commercial officer of energy, commented, "We are extremely pleased to be expanding our relationship with a trusted business partner in the ethanol industry. Gavilon is well-positioned to invest the capital necessary to fuel E Energy's growth, which will in turn support the growth of our energy and related businesses."
Gavilon currently markets approximately 800 million gallons of ethanol each year and has exclusive marketing agreements in place with five ethanol plants. The company is licensed in 48 states with sales to more than 100 customers.
About E Energy Adams, LLC
E Energy Adams, LLC operates a modern ethanol facility in Adams, Neb. The facility operates well above its nameplate capacity, grinding through more than 20 million bushels of local corn to produce in excess of 55 million gallons of denatured ethanol and 175,000 tons of DDGs each year. Rail service is provided by BNSF with a site capacity of over 300 cars. The 200-acre site began operations in October 2007. For more information, please visit www.eenergyadams.com.
About Gavilon, LLC
Gavilon, LLC is a subsidiary of The Gavilon Group, LLC. The Gavilon Group, LLC provides essential services in the physical distribution, trading, merchandising and risk management of raw materials and value-added products moving through the global supply chain of grain, feed ingredients, fertilizers and energy products. For more information, please visit www.gavilon.com.




