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FOR IMMEDIATE RELEASE
Merrillville, Ind.– Indiana Ethanol Power LLC (IEP)
will begin contract negotiations with the Lake County Solid
Waste Management District (LCSWMD) to build the first facility
in the United States to convert commercial municipal solid waste
to ethanol using the patented GeneSyst process. The LCSWMD,
in searching for a sustainable use of solid waste, voted to
authorize contract negotiations with IEP on March 20. The LCSWMD
plans to review the final contract with IEP at its board meeting
in May.
The 1,500 ton per day facility, utilizing the GeneSyst process
invented by James Titmas, is expected to produce 20 million
gallons of fuel-grade ethanol and other products each year.
“Thanks to the leadership of Gov. Daniels, Indiana has
long been on the forefront of alternative energy,” said
Lt. Gov. Becky Skillman. “This technology provides yet
another source of alternative energy for our state and secures
Indiana as a leader in the industry.”
The project has engaged Oppenheimer and the RBC Capital
Markets Corporation to provide the financing. It has also
received support and a $100,000 grant from the State of
Indiana’s Office of Energy & Defense Development.
Skillman also stated, “Lake County has been making strides
to become a leader in new economic development opportunities
while dealing with a transitioning economy. We are happy to
support the county’s efforts to bring this cutting-edge
technology to our state.”
John Clark, Director, Indiana Office of Energy & Defense,
added, “This type of cutting-edge technology will be the
first of its kind in the United States, making Lake County a
leader in waste management technology.”
Lake County Second District Commissioner Gerry J. Scheub said
at a recent board meeting, “This project is especially
exciting to us because it is a fully funded private investment,
provides high-paying jobs for the local economy, and has a direct
positive and profound impact on our environment.”
IEP will work closely with local communities and environmental
interest groups to select the facility site within Lake County.
Approximately 120 to 130 employees will be hired to operate
the facility. Construction could begin in 2008 and should be
completed within two years.
“Pre-construction activities are moving forward for the
first phase of the $100 million project,” Zig Resiak of
IEP says. “We are firmly committed to utilizing the local
workforce in building the state-of-the art-facility in Lake
County.”
Indiana Ethanol Power LLC was formed through the collaboration
of world-class engineers and consultants including RW Armstrong;
GeneSyst International, Inc.; River’s Bend Engineering,
Inc.; Ghafari Associates, LLC. Oppenheimer and the RBC Capital
Markets Corporation have teamed to provide financial underwriting
and consulting services for Indiana Ethanol Power.
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