VeraSun reaches 560 million gallons in annual ethanol capacity, halfway to goal of 1 billion

VeraSun Energy  announced that, with the launch of its new Albion, NE plant, it had reached the halfway point of its goal of 1 billion gallons per year in ethanol production.

VeraSun recently announced that it will not pursue biodiesel production until industry economic conditions improve. The company is developing a process to extract corn oil from distillers grains, which could be used as a biodiesel feedstock, and the company is constructing a plant in Aurora, SD for oil extraction, and will also build similar facilities in Fort Dodge, IA and Charles City, IA.

But VeraSun said it would concentrate on selling the oil to other producers, rather than entering the biodiesel production business.

VeraSun (VSE) recently suspended construction of its 110 Mgy corn ethanol plant in Reynolds, IN due to the fall in ethanol prices. The company said it would restart construction in 2008.

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