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Tours planned at Annawan ethanol plant

Published: Monday, Oct. 8, 2012 5:11 p.m. CDT

ANNAWAN — Patriot Renewable Fuels LLC in Annawan will be conducting plant tours from mid-October through early November.

If you would like more information about this process or Patriot, please contact Ascendant Partners: Kirk Martin at 303-221-4700, ext. 2, or by email at kmartin@ascendantpartners.com or Mark Warren at 303-221-4700, ext. 4, or by email at mwarren@ascendantpartners.com.

Patriot Renewable Fuels LLC is an ethanol production company located in Annawan that owns and operates a 115-million-gallon-per-year ethanol plant that commenced operations in September 2008.

Throughout its four years of development and operations, the board of Patriot Holdings LLC has continuously monitored and evaluated the ethanol industry in the course of developing its strategic plan for the future. Since commissioning production in September 2008, Patriot has achieved many of its initial core objectives, including building a competitive and successful ethanol production facility.

As Patriot plans for the future, it has received questions about plans for growing the company, for paying distributions, for increasing its financial strength, and for providing greater liquidity for members. The board has taken steps to formally evaluate the strategic options designed to position the company to best represent stakeholder interests going forward, including the interests of its employees, the local community, the agricultural producers in western Illinois, as well as its members.

In June Patriot retained Ascendant Partners Inc., a financial advisory firm, to assist in gathering facts and data to provide the board a clearer understanding of the current state of the market as well as the opportunities and options available to the company. Ascendant continues to assist the board as it assesses these various strategic options, which range from continuing to operate the business as an independent operator to exploring the sale of the business, among a variety of other options and opportunities.

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