GreenField Ethanol welcomes new federal biofuels bill



    An investment in biofuels is an investment in Canada's future

    QUEBEC CITY, Dec. 3 /CNW/ - GreenField Ethanol welcomed the announcement
today of a new federal biofuels bill and the details of the federal ecoENERGY
for biofuels program. These new measures announced by federal Agriculture
Minister Gerry Ritz will ensure the continued development of environmentally
friendly homegrown ethanol in Canada.
    The new biofuels bill will make the necessary changes in law to ensure
the federal government meets its goal of an average renewable content of
five per cent ethanol and two per cent biodiesel in Canadian gasoline and
diesel fuel.
    "The federal government's investment in biofuels is an investment in
Canada's future," said Bliss Baker, Vice President of GreenField Ethanol.
"Biofuels like ethanol are better for the environment, better for farmers and
rural economies, and better for energy supply and gas prices. This new
biofuels bill coupled with the ecoENERGY program will mean more jobs in a
vital and growing sector of the energy industry."
    Ethanol and biodiesel fight global warming by reducing harmful greenhouse
gases. It is estimated that Canada's new renewable fuel standard will result
in an annual 4.2 megatonne reduction in net GHG emissions - the equivalent of
removing more than one million cars from Canadian roads. GreenField Ethanol's
facilities alone remove more than 400,000 tonnes of ozone-depleting greenhouse
gas emissions from the atmosphere and these reductions will reach one million
tonnes by 2009.
    Canada's growing biofuels industry attracts investment to rural
communities and provides farmers with a new market for their grains. According
to the Canadian Renewable Fuels Association, twenty new world-class biofuels
facilities are expected to be built in the coming years and create over 14,000
new jobs in rural communities. They will provide a new market for over
200 million bushels of Canadian grains and oilseeds.
    "With increasingly unstable oil prices, there is a pressing need for
Canada to quickly develop reliable and renewable sources of energy," said
Baker. "In this category there is no more readily available, proven and
practical alternative than renewable fuels."

    GreenField Ethanol, formerly Commercial Alcohols, is Canada's leading
ethanol producer. The company produces 250 million litres of corn-based fuel
ethanol every year at its plants in Chatham and Tiverton, Ontario and
Varennes, Quebec. GreenField's largest plant to date, in Johnstown, Ontario,
will be operational in 2008. The company's Hensall, Ontario plant will be
operational in 2009. GreenField Ethanol will be one of the top producers in
North America with five operating plants, producing more than 700 million
litres of ethanol per year by 2009. GreenField's Ethanol is available at more
than 1,500 gas stations across Canada.





For further information:

For further information: Melissa Armstrong, (416) 304-1700 x8431,
m.armstrong@greenfieldethanol.com

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GREENFIELD ETHANOL

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