Aventine Renewable Energy

Aventine Renewable Energy was a United States biofuels company founded in 2003 and headquartered in Pekin, Illinois. Its principal business was the production and marketing of corn-based, fuel-grade ethanol for the American market. The company also produced biodiesel and sold a range of co-products generated during ethanol manufacturing. Aventine operated production facilities in Pekin, Illinois, and Aurora, Nebraska. Its ethanol business connected agricultural raw materials with fuel distributors, energy companies, and commodity traders. Rather than selling only finished fuel, Aventine also developed a broader coproduct model. Materials produced alongside ethanol included distillers grain, corn gluten meal and feed, corn oil, corn germ, and grain distillers dried yeast. These products were marketed mainly to livestock producers and other end users as alternatives or supplements to conventional sources of corn, starch, and protein. The company distributed ethanol to many leading American energy and trading companies. This positioned Aventine within the expanding United States biofuels sector, where ethanol producers depended on corn supply, fuel demand, commodity pricing, blending economics, and government policy. Its business therefore combined industrial processing with agricultural commodity marketing. Aventine became a publicly traded company in 2006, but its stock subsequently suffered a severe decline and the company was delisted from the New York Stock Exchange. On April 8, 2009, Aventine filed for protection under Chapter 11 of the United States Bankruptcy Code. The filing reflected the financial pressure affecting the company and its operating model during a difficult period for the biofuels industry. Aventine emerged from bankruptcy on March 16, 2010, allowing it to continue operating as a reorganized business. The company remained active for several more years before being acquired by Pacific Ethanol, Inc. On July 1, 2015, Pacific Ethanol completed its acquisition of Aventine Renewable Energy Holdings, Inc. through a merger involving AVR Merger Sub, Inc., a wholly owned subsidiary of Pacific Ethanol. Following that transaction, Aventine ceased to operate as an independent publicly traded company. Its historical identity is therefore associated with a United States ethanol producer that combined fuel manufacturing, agricultural coproduct sales, and commodity distribution before undergoing bankruptcy reorganization and eventual acquisition.

Aventine Renewable Energy was established in 2003 as an American biofuels enterprise. Based in Pekin, Illinois, it developed a business centered on producing and marketing fuel-grade ethanol made from corn. Its operations included facilities in Pekin and Aurora, Nebraska, giving the company a presence in two important agricultural regions of the United States. The company’s activities extended beyond the sale of ethanol. Ethanol production creates several marketable materials, and Aventine marketed these outputs to livestock producers and other users. Its coproduct portfolio included distillers grain, corn gluten meal and feed, corn oil, corn germ, and grain distillers dried yeast. These materials could serve as sources of feed, starch, protein, or other agricultural inputs, helping Aventine monetize more of the corn-processing stream. The company also produced and marketed biodiesel. Aventine sold ethanol to major energy and trading companies in the United States. Its position in the supply chain was consequently broader than that of a standalone manufacturing plant: it combined industrial biofuel production with distribution and commodity marketing. The business was exposed to changes in corn costs, fuel prices, demand for blended ethanol, agricultural markets, and the wider economics of renewable fuels. Aventine became publicly listed on the New York Stock Exchange in 2006. Its stock later experienced a sharp collapse, and the company was delisted. On April 8, 2009, Aventine entered Chapter 11 bankruptcy proceedings. The bankruptcy period marked a major restructuring point in the company’s history, but it did not immediately end operations. Aventine emerged from bankruptcy on March 16, 2010. After its reorganization, Aventine continued as an ethanol and renewable-fuels business until Pacific Ethanol, Inc. acquired Aventine Renewable Energy Holdings, Inc. on July 1, 2015. The transaction was completed through a merger with AVR Merger Sub, Inc., identified as a wholly owned subsidiary of Pacific Ethanol. The acquisition ended Aventine’s independent corporate existence and placed its assets and operations within Pacific Ethanol’s business. Aventine is therefore historically significant as a United States ethanol producer that expanded into coproduct marketing, experienced public-market and bankruptcy difficulties, reorganized, and ultimately became part of a larger ethanol company.

• 2015

  Acquisition by Pacific Ethanol

  [1]Aventine Renewable Energyen.wikipedia.org

  Pacific Ethanol acquired Aventine Renewable Energy Holdings through a merger involving its subsidiary AVR Merger Sub on July 1, 2015.

• 2010

  Emergence from bankruptcy

  [1]Aventine Renewable Energyen.wikipedia.org

  The company emerged from bankruptcy on March 16, 2010.

• 2009

  Chapter 11 bankruptcy filing

  [1]Aventine Renewable Energyen.wikipedia.org

  Aventine filed for Chapter 11 bankruptcy protection on April 8, 2009.

• 2006

  New York Stock Exchange listing

  [1]Aventine Renewable Energyen.wikipedia.org

  Aventine became publicly listed on the New York Stock Exchange. Its shares later suffered a major decline and the company was delisted.

• 2003

  Company founded

  [1]Aventine Renewable Energyen.wikipedia.org

  Aventine Renewable Energy was founded in the United States as a producer and marketer of renewable fuels, principally corn-based ethanol.

A vertically oriented American biofuels producer and marketer focused on corn-based ethanol, with additional revenue from agricultural and feed co-products created during ethanol production.

• Biofuel

  Fuel-grade corn ethanol

  Aventine’s core product was fuel-grade ethanol manufactured from corn and marketed in the United States. The company supplied ethanol to major energy and trading companies, placing the product within the domestic fuel-distribution and blending system.

• Biofuel

  Biodiesel

  Biodiesel was part of Aventine’s renewable-fuels portfolio. The available reference material identifies the company as producing and marketing biodiesel, although it does not provide a separate product chronology or detailed specifications.

• Agricultural and animal-feed products

  Ethanol coproducts

  Aventine marketed materials generated during ethanol production, including distillers grain, corn gluten meal and feed, corn oil, corn germ, and grain distillers dried yeast. These products were sold primarily to livestock producers and other end users as alternatives or supplements to conventional corn, starch, and protein inputs.

• 2015

  Sale to Pacific EthanolM&A

  Background

  Aventine continued operating after its bankruptcy reorganization but was subsequently targeted for acquisition by Pacific Ethanol.

  Action taken

  Pacific Ethanol acquired Aventine Renewable Energy Holdings through a merger with AVR Merger Sub, Inc., its wholly owned subsidiary.

  Aftermath

  The transaction was completed on July 1, 2015, ending Aventine’s independent corporate status.

  Source

• 2009

  Chapter 11 reorganizationOther

  Background

  Aventine faced severe financial pressure after its public-market listing and subsequent stock-price collapse.

  Action taken

  The company filed for Chapter 11 bankruptcy protection on April 8, 2009.

  Aftermath

  Aventine completed its reorganization and emerged from bankruptcy on March 16, 2010.

  Source

1. 1Aventine Renewable Energyen.wikipedia.org