Ethanol co-op pays $1 million dividend

December 13, 2007

MENOMONIE - Paul Harrison, president of the Western Wisconsin Renewable Energy Cooperative (WWREC) recently called to order and presided over the fifth annual membership meeting in Menomonie.

In a meeting crowded with local investors, Harrison announced to members they would be receiving more than $1 million in dividends.

"By returning yet another dividend check this year, it proves we can build an environmentally-friendly plant that adds value to local farmers' corn," he said.

In attendance was Dunn county Board of Supervisors chair, Steve Rasmussen, who said, "I am so proud of what has been accomplished by the WWREC. This group just continues to impress me. Whether it is involving the school district in projects, contributing money to the fire department or hiring local people to work at the plant, this group has lived up to their promise of being good neighbors."

Special guest, Wisconsin Secretary of Agriculture Rod Nilsestuen, also commented on WWREC's success.

"While the immediate benefits of the Western Wisconsin Renewable Energy Cooperative are local, the long-term benefits resonate well beyond the rural farming community," he said. "I commend WWREC's 525-member farmers for their significant contributions to energy independence for the state."

"With the price of oil above $90 per barrel, Wisconsin ethanol's impact on oil imports alone is close to $1 billion," Nilsestuen added. " The price of a gallon of gasoline in our region is $3.15. The price of a gallon of E85 is almost a dollar lower. Consumers want and deserve a choice."

In his closing remarks, Harrison said, "I still see atttempts to discredit ethanol in various studies. I wish those detractors would come visit our plant. I think our experience proves a plant can be operated in a fiscally-sound manner, which creates jobs, gives back to the local community, exceeds environmental requirements and still provides a return to the investors."

The WWREC ethanol plant has been in operation since Aug. 28, 2006. The plant is designed to produce 40 million galons of fuel-grade ethanol per year, which can be used in numerous verhicles being produced by automobile manufacturers.

The Dunn County News; Wednesday, December 12, 2007; Local News, A3