IGPC Ethanol Inc.

IGPC Ethanol Inc.

March 17, 2008 09:32 ET

IGPC Ethanol Inc. Names Jim Grey as Chief Executive Officer

AYLMER, ONTARIO--(Marketwire - March 17, 2008) - IGPC Ethanol Inc., Canada's first farmer and community owned ethanol production facility, today announced that Jim Grey will take on the role of Chief Executive Officer for its $140 million ethanol plant currently under construction in the Aylmer Industrial Park.

Grey, who has more than 25 years of corn processing and related experience both in Canada and internationally, will assume this critical leadership position on April 14th.

"We are delighted to bring Jim on board to head up our senior executive team" said IGPC Ethanol President Tom Cox. "His many years of corn processing experience, both here and abroad, make him the seasoned steady hand we need to guide the business through its start up later this summer."

Grey has previously served as President of Casco Inc., Canada's largest corn processor, as well as Executive Vice President of Casco Inc.'s parent company, Corn Products North America, based in Westchester, Illinois. He also served as a director on the board of Commercial Alcohols.

In addition, Grey has held the position of General Manager of the Ontario Soybean Growers Marketing Board and more recently worked to develop a corn wet milling facility for Jungbunzlauer in Austria. He holds a degree in Chemical Engineering from McGill University in Montreal.

George Alkalay of Northfield Ventures, who has been acting as IGPC Project Manager during its development phase, will continue to provide assistance to the company during its transition to operational start-up. "Jim Grey will be a tremendous asset to IGPC as it commences operations in a time of great market volatility," said Alkalay. "Jim's extensive management experience, combined with his knowledge of manufacturing, risk management, and the agricultural sector make him the ideal person to take on this challenging position. I look forward to working with him closely as IGPC gets ready for start-up."

BACKGROUNDER

IGPC Ethanol Inc.

IGPC Ethanol Inc., the wholly owned subsidiary of the Integrated Grain Processors Co-operative, has begun construction of a $140 million ethanol plant in Aylmer, Ontario, capable of producing approximately 150 million litres of denatured fuel-grade ethanol annually. The plant will also produce approximately 120,000 tonnes of Dried Distillers Grains with Solubles (DDGS) annually. Approximately 90,000 tonnes of CO2 will be produced annually by the plant.

The plant will create significant additional demand for Ontario corn by utilizing approximately 15 million bushels of corn annually, representing approximately 6% of Ontario's average annual corn production.

Construction on the Aylmer facility began in July of 2007 and is expected to be completed in the third quarter of 2008. The plant is being built by North America Construction (NAC) utilizing an ICM design. Up to 150 construction workers and trades people are currently working on the site. Upon commissioning, the plant will employ some 35 skilled workers and generate many more spin-off jobs.

Integrated Grain Processors Co-operative Inc. (IGPC) was incorporated in April 2002 as an Ontario co-operative. The objective of IGPC is to establish an ethanol plant in Southwestern Ontario to add value to local producers' corn, increase the price producers receive for their corn locally, and create jobs and environmentally sustainable economic growth in Southwestern Ontario. The Co-operative is committed to the reduction of greenhouse gas emissions through the production of renewable fuels.

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