Air Construction Permit Issued For Aventine's New Mt. Vernon, Indiana Facility

Pekin, IL - Aventine Renewable Energy Holdings, Inc., a leading producer, marketer and end-to-end provider of clean renewable energy, recently announced that it has received an air construction permit for construction of its previously announced ethanol plant at the Port of Indiana - Mt. Vernon.

The Indiana Department of Environmental Management ("IDEM") issued the air construction permit on September 20, 2007. The permit allows for the eventual construction of a facility that will produce up to 226 million gallons annually of denatured fuel-grade ethanol. The initial phase 1 construction of 113 million nameplate gallons will begin immediately. A notice to proceed has already been issued to the contractor, Kiewit Energy Company. Phase 1 of the project also includes civil engineering site work for the phase 2 expansion. Phase 1 of the project is fully-funded. Aventine has already spent $52.4Mn on the project through August, including amounts spent on license fees, the pre-purchase of long-lead time plant equipment and initial site work in anticipation of receiving the air construction permit.

The plant site is located on 116 acres leased from the Ports of Indiana, a statewide port authority operating three maritime shipping facilities totaling 2,300 acres on the Ohio River and Lake Michigan. The plant is being built by Kiewit Energy Company with Delta-T Corporation as the technology provider. Initial production from the plant is expected by the end of 2008. The Mt. Vernon port site is located on the lower Ohio River with excellent access to existing roads, rail and dock infrastructure, including river access to the Mississippi, Cumberland, Tennessee and Tombigbee rivers.

Under an agreement signed last year between Aventine and Consolidated Grain and Barge Company, a subsidiary of CGB Enterprises, Inc. ("CGB"), corn for the ethanol facility will be sourced exclusively from CGB. As part of the agreement, CGB will market the Dry Distillers Grain with Solubles ("DDGS") to export markets. CGB will also be responsible for ethanol and DDGS loading at the site. CGB will utilize its approximate 10 million bushel elevator system in the Mt. Vernon area to source grain for the ethanol plant, and will market the DDGS for export to Europe and Asia. CGB currently owns and operates 65 grain elevators in the U.S. The planned Mt. Vernon operation will be supported by a network of 10 different CGB grain elevators.

Ron Miller, Aventine's President and Chief Executive Officer said, "We are excited that we are now able to move forward expeditiously in completing our expansion plans at Mt. Vernon. Our Mt. Vernon location is one of the premier locations for ethanol production and shipment in the United States. Our relationship with CGB will help make this project a success." Miller continued, "We are strong believers that the U.S. ethanol industry will be supplying 10% of our nation's motor fuel needs. Refiners and blenders will continue to use more and more ethanol, pushing demand higher. This new facility, along with our other growth opportunities, will allow us to remain a significant producer and marketer of ethanol in the United States."

Kevin Adams, President and CEO of CGB Enterprises said, "We at CGB want to congratulate Aventine on receiving their IDEM air construction permit. Together, CGB and Aventine will assist farmers in Indiana, and adjoining states, by increasing their marketing alternatives and value for their corn. Getting this project to this point in time has required the cooperation of many groups, including Aventine, the Ports of Indiana, the Posey County government, the State of Indiana and CGB."

Brad Kaufman, President of Kiewit Energy Company, added, "We are excited that we can now proceed full-speed with what we were hired to do; construct an ethanol plant. We look forward to working with Aventine and Delta-T on this project, and are proud to be associated with these extraordinary companies within the ethanol industry. Kiewit is committed to making this project a success."

Rob Swain, President of Delta-T Corporation, said "Delta-T is proud that our technology solutions will help Aventine remain a leader in ethanol production. Our companies are all leaders within the ethanol industry. We've already gotten off to a good start, and we look forward to the successful completion of this facility."

SOURCE: Aventine, Kiewit Energy Company and CGB Enterprises, Inc.