SOY ENERGY, LLC NEWS RELEASE
Announcement:
For Immediate Release: December 4, 2006
Marcus, Iowa: Soy Energy, LLC announced plans to begin their
Equity Drive to develop, build, and operate a biodiesel production
facility near Marcus, Iowa. The first information meeting
for investors will be held at 2:00 p.m. on December 18th in Marcus,
Iowa that will provide local investors to be a part of this biofuels
project.
Soy Energy will produce 30 million gallons per year of biodiesel
from soybeans, crude soy oil, corn oil, and animal fats.
The facility will use pelletized biomass as the primary source
of thermal energy and steam. Soy Energy will bring nearly
30 high paying jobs and significant economic development to Cherokee
County and Northwest Iowa. This project is the culmination
of three years of discussion, research and study.
According to Charles Sand, Chairman of Soy Energy, LLC the initial
cost to construct the plant will be $58 million dollars and it
will produce 30 million gallons of biodiesel annually. Sand
said, “This will be a state of the art biodiesel production
plant and will have a very positive economic impact for Northwest
Iowa.” Construction will begin in early 2007 with
plans to be in production by early 2008. Soy Energy plans
to add a Soybean Crusher in Phase II of the project at a cost
of approximately $35 million bringing the entire project cost
to $93 million by 2010. “This is a great investment
in value-added agriculture and the biofuels industry, and will
create a significant number of new jobs and tax base in Northwest
Iowa” according to Sands.
As a further cost advantage against competition and as a hedge
against the escalating price of natural gas, Soy Energy will use
pelletized biomass as the primary source of energy for the plant.
The pelletized biomass will be supplied by the Cherokee County
Solid Waste, who has been operating a biomass diversion program
since 1989.
Soy Energy will have Cimbria-Sket and Westfalia,
and Baker Group as the technology provider for the facility.
The builder of the project will be the Bratney Companies, Des
Moines, Iowa.
Soy Energy’s offering is open only to Iowa
residents. An offer is made only by the prospectus, a copy
and a complete schedule of investor meetings is available by calling
Soy Energy’s office at 712-376-2081.
A complete schedule of investor information meetings is available
by clicking HERE
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