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For Immediate Release Altra Inc. Breaks Ground on advanced-stage ethanol production facility in Coshocton, Ohio Los Angeles, CA and Coshocton, OH (July 11, 2006) – Coshocton Ethanol, LLC, a wholly owned subsidiary of AltraBiofuels, a California-based developer of renewable fuel projects, announced at a ground breaking ceremony held today, that the Company has commenced construction on Ohio’s first major ethanol production facility in the eastern Ohio/Pennsylvania region based in Coshocton, Ohio. Breaking ground on the 50 acre Coshocton Ethanol facility continues Altra’s current phase of its strategic projects as it seeks to build five hundred million gallons of biofuel production capacity through the acquisition of existing operating assets and the development of strategically located permitted facilities across the nation with state-of-the-art biofuel refining technology. “As energy prices escalate and our energy needs grow, we must focus on curtailing our dependence on foreign oil and developing our own clean, affordable sources of energy,” Ohio Governor Bob Taft said. “Today’s groundbreaking confirms Ohio’s strength as an agricultural state and reaffirms our commitment to renewable energy sources.” Centrally located in the Appalachian agricultural belt, the Coshocton Ethanol facility will leverage the region’s prolific corn production, used to produce ethanol, as well as the extensive dairy cow industry, to which Altra plans to sell distiller’s grain, an ethanol byproduct. Upon completion, Coshocton Ethanol’s plant capacity is anticipated to reach 60 million gallons per year (MGPY), with full-scale ethanol production scheduled to commence in October 2007. The Coshocton Ethanol facility is anticipated to create 41 new full time jobs in the region and contribute millions of dollars of economic activity in the local and surrounding communities. The city of Coshocton, Ohio is so appreciative of Altra choosing Coshocton for their ethanol facility,” said Coshocton, Ohio Mayor Tim Turner. We welcome them as our neighbors. It has been a tremendous effort by many people, but all the effort and hard work will bring jobs in an area where many jobs have been lost.” “The Coshocton community welcomes Altra and Coshocton Ethanol to our home, and we are excited about its commitment to the biofuel industry,” said Coshocton Port Authority Executive Director Ed Flynn. “We are also appreciative of their substantial capital investment in our county that will result in job creation and other opportunities for economic growth, and look forward to a successful partnership for years to come.” “The state of Ohio and the Coshocton community have demonstrated a tremendous amount of vision and foresight in providing such tremendous incentives for the Coshocton Ethanol facility, and we are excited to break ground on this major facility,” said Larry Gross, CEO of AltraBiofuels “Coshocton is one of the prime agricultural hubs in the United States, making it an ideal place for Altra to locate a major biofuels production and distribution facility, bringing economic growth to the region.” About AltraBiofuels |
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