Virgin Bioverda invests in Indiana, Tennessee plants

March 27, 2007

Virgin Bioverda LLC, a joint venture between Virgin Biofuels and NTR plc's bioenergy division Bioverda, announced investments in two 100 MMgy ethanol plants. Capital investment in Indiana Bioenergy LLC and Ethanol Grain Processors LLC in Tennessee will total $336 million. Fagen Inc. is constructing the plants to be completed in 2008. Aventine has been named ethanol marketer. Virgin Fuels is the energy division of Sir Richard Branson's British conglomerate Virgin Group. Branson has pledged investments up to $3 billion over the next 10 years to combat global warming. The two investments bring Virgin's total investment in the renewable energy sector to $150 million in the past year.

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