We are a development stage company that plans to engage in the business of producing fuel ethanol through the ownership and operation of ethanol plants. Our objective is to become one of the ethanol industry's lowest-cost producers. We intend to market the ethanol we produce to refineries for use as a blend component in the U.S. gasoline fuel market. In addition, as a byproduct of our ethanol fuel operations, we intend to produce and sell dried distiller grains, which we refer to as DDG, and other commercially useful corn by-products. DDG are used in the manufacture of various animal feeds.

We believe that there is a significant market opportunity in the ethanol industry resulting from government mandated programs, increased public and governmental support for renewable fuels, cutbacks by refineries on the use of methyl tertiary butyl ether, which we refer to as MBTE, as a gasoline additive due to increased environmental and product liability concerns, and increasing public awareness of the benefits of ethanol as a gasoline additive (and an alternative to MTBE). We intend to address this market opportunity in part by:

* commercializing corn fractionation technology to take advantage of the economic benefits of fractionation in the ethanol production process;

* acquiring superior sites for the development of greenfield, state-of-the-art ethanol production facilities;

* acquiring ethanol plants during construction to take advantage of existing regulatory approvals and reduce the timeline for bringing our plants on line;

* aligning ourselves with existing producers to help them improve their efficiency using our technical expertise; and

* utilizing our management's experience in the coal-fired electric utility sector for brownfield development of low-cost ethanol plants.