East Coast Ethanol, LLC to Build Four 100-Million Gallon Per Year Ethanol Plants in the Southeast

Prior to the merger, each of the four companies was separately developing a single 100 million gallon per year fuel ethanol production facility. East Coast Ethanol, LLC will now assume the financing, construction and operation of the four new ethanol production facilities being developed in the Southeast.

It is expected that Fagen, Inc. will design and build all four of the planned ethanol production facilities, and East Coast Ethanol has already secured a letter of intent with Fagen for the ethanol production facility planned for Jesup, Georgia. Ron Fagen, President of Fagen, Inc., remarked, “Fagen Inc. is both excited and committed to work with East Coast Ethanol. Due to the large population base, destination plants in the Southeast have a unique position to sell their ethanol locally. These ethanol plants could be some of the first to incorporate biomass when the technologies become commercially viable.  East Coast Ethanol will be part of the movement to secure domestically-produced, clean-burning energy, and we are pleased to have the opportunity to work with them.”

Dr. Randy Hudson, Chairman and Chief Executive Officer of East Coast Ethanol, LLC, commented, “Each of these four companies was off to a successful start, but we know that the industry is changing. It is clear that our investors entered into this merger to become part of a larger ethanol production organization, which we believe will help us to improve profitability, our competitive position and our long-term prospects.”