FOR MORE INFORMATION:
Lucy Norton, Managing Director, 515-225-9242
Monte Shaw, Executive Director, 515-225-9242

FOR IMMEDIATE RELEASE
July 13, 2006

Freedom Fuels Begins Construction on Biodiesel Refinery near Mason City
Iowa Now Has 6 Operating Biodiesel Refineries and 6 Under Construction

JOHNSTON, IA – The Iowa Renewable Fuels Association (IRFA) today congratulated Freedom Fuels for beginning construction on its biodiesel refinery near Mason City, Iowa. The facility will process soybean oil and animal fats into 30 million gallons of biodiesel and 3 million gallons of glycerin annually.

“The local owners of Freedom Fuels are part of a massive grassroots effort in Iowa to reduce our country’s dependence on foreign oil,” said Monte Shaw, IRFA Executive Director. “The rapid growth of Iowa’s biodiesel industry is the result of pent up demand for rural investment opportunities and strong national demand for petroleum replacements. ”

Freedom Fuels has retained NewMech out of St Paul, Minnesota as its general contractor. Equipment and the process design are being provided by Crown Ironworks of Minneapolis, Minnesota. Further, Core Ventures out of St Paul, Minnesota has been selected as the management company.

It is an exciting time to be involved with Midwest agriculture,” said Freedom Fuels Board Member Charlie Wearda. “Members of the Freedom Fuels LLC Board of Directors are pleased to be an integral part of the transition of an economy powered by biofuels and other renewable energy sources. Our production will help supplement finite petroleum supplies when blended with diesel fuel. The favorable environmental impact coupled with lowering our dependence on foreign oil makes this the right project at the right time. ”

Iowa is the leader is renewable fuels production. Currently, Iowa has 12 biodiesel refineries with a combined annual capacity of over 225 million gallons either in operation or under construction. In addition, Iowa has 25 ethanol refineries with the capacity to produce over 1.5 billion gallons annually. There are 4 ethanol refineries and two expansions under construction with a combined annual capacity of 425 million gallons. Many additional renewable fuels projects are under development.

The Iowa Renewable Fuels Association was formed in 2002 to represent the state’s ethanol and biodiesel producers. The trade group fosters the development and growth of the renewable fuels industry in Iowa through education, promotion, legislation and infrastructure development.