Valero purchases idled Indiana ethanol plant

March 24, 2014, San Antonio, Texas – Valero Renewable Fuels
Company, LLC announced it has purchased a corn ethanol plant in Mount Vernon,
Ind. from Aventine Renewable Energy-Mt. Vernon, LLC.

The plant has an annual production capacity of 110 million
gallons and uses Delta-T technology, similar to the process already in use at
Valero Renewables’ ethanol plant in Jefferson, Wis.

The Mount Vernon plant is the 11th corn ethanol plant in
Valero Renewables’ system and its second in Indiana. The addition will give
Valero more than 1.3 billion gallons per year in ethanol production. The plant
has been shut down for approximately two years, but Valero Renewables plans to
begin a restart program and resume production within the next several months.

“We’re looking forward to hiring employees, restarting the
plant and producing ethanol,” said Martin Parrish, Valero’s Vice
President-Alternative Energy and Development. “We intend to invest in the Mount
Vernon plant to make it competitive with other top-tier ethanol facilities, and
we will use the technical expertise we have gained at our other plants to look
at ways to improve Mount Vernon’s reliability, production rate and product
yields.”

The Mount Vernon plant’s logistical advantages include ready
access to corn suppliers as well as strong rail, truck and barge
transportation. The plant is at the Port of Indiana-Mount Vernon on a location
leased from Ports of Indiana, the state port authority. That relationship will
continue.