Pacific Ethanol, Inc. (Nasdaq: PEIX) has completed its first ethanol production facility in Madera, California. A ribbon cutting ceremony will take place on October 16th and operations will begin the next day. It’s expected to reach capacity of 35 million gallons a year by mid November, 2006. “This is a significant milestone for Pacific Ethanol. The startup of the Madera Plant will contribute ethanol production revenues during the 4th quarter of this year, ahead of our internal target date,” observed Neil Koehler, CEO of Pacific Ethanol, Inc. “We anticipate it will take roughly thirty days to bring the plant up to full capacity, and that from mid-November forward the plant will be producing ethanol at or above our designed level of 35 million gallons per year. Our second plant in Boardman, Oregon remains on schedule for completion by the end of the second quarter of 2007.”
Koehler concluded by noting, “We remain on schedule to develop 220 million gallons of production capacity by the middle of 2008 and 420 million gallons by the end of 2010.”
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