FORM 8-K PRIVATE
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Date of Report (Date of earliest event reported) March 18, 1999.
HIGH PLAINS CORPORATION
(Exact name of registrant as specified in its charter)
Kansas #1-8680
(State or other jurisdiction of (Commission File
incorporation) Number)
200 W. Douglas #48-0901658
Suite #820 (IRS Employer
Wichita, Kansas 67202 Identification No.)
(Address of prinicipal
executive offices)
(316)269-4310
(Registrant's telephone number)
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Item 5 Other Information
Wichita, Kansas - March 18, 1999 - The U.S. Department of Energy (DOE) has
awarded $374,000 in grants to High Plains Corporation and its research partners
to study the use of low-cost biomass from corn, wheat and milo stover as
feedstocks for ethanol production at its York, Nebraska and Portales, New
Mexico production facilities.
"We're delighted that the Department of Energy has chosen High Plains as a
research and development partner," says Gary Smith, High Plains Corporation's
President and CEO. "One of our Company's primary objectives is to become a
lower-cost producer of ethanol. The ability to supplement our regular
feedstocks with waste products, such as corn stover, wheat stover and milo
stover, would provide us with the potential for plentiful, low-cost feedstocks
that otherwise would be left unused," he concluded.
Merrick & Company, a Colorado engineering firm, will partner with High Plains
in the York, Nebraska project that is part of the Energy Department's "Bridge
to the Corn Ethanol Industry" program; SWAN Biomass Company, a developer and
licensor of advanced conversion technology and an affiliate of Amoco
Corporation with offices in Oakbrook Terrace, IL, will oversee the Portales,
New Mexico project. The DOE initiative is designed to help expand domestic
ethanol production by bringing together the established corn ethanol industry
with newer technologies that produce ethanol from agricultural and forest
wastes and other types of biomass.
The cost-shared grants, awarded through the National Renewable Energy
Laboratory (NREL), are aimed at facilitating the production of ethanol from
corn stover, which includes the leaves, stalks and cobs left over when the corn
plant is harvested, and other biomass, such as the stover from wheat and milo,
that are also used by High Plains as a feedstock.
"With more types of feedstocks, especially from the corn industry itself,
ethanol producers can keep up with expected increases in demand," said Dan
Reicher, DOE Assistant Secretary for Energy Efficiency and Renewable Energy,
who announced the awards. "There will be many benefits from a successful
initiative including reducing the cost of domestic ethanol production, creating
new markets for U.S. corn growers, encouraging the production of a clean-
burning alternative to gasoline and helping to cut our dependence on imported
oil," he said.
Merrick & Company will complete a six-month feasibility study to evaluate
lignocellulosic biomass conversion to ethanol at High Plains Corporation's
York, Nebraska ethanol production facility. In addition to the High Plains'
technical staff, other Project Team partners include PureVision Technology,
Inc., Clemson University, Colorado State University, and Phoenix Bio-Systems.
SWAN Biomass Company and Weatherly, Inc., a full-service engineering company,
located in Atlanta, GA, will collaborate with High Plains Corporation in the
four-and-a-half month Portales, NM project. SWAN will evaluate the use of its
proprietary technology for biomass conversion to ethanol at the Portales
facility. This process utilizes an engineered yeast that received an award
from R&D Magazine in 1998 as one of the most significant inventions of the
year. One of the key components of the project will be an assessment of
possible ways that the grain processing and biomass processing facilities can
be integrated.
"Systems and process integration are corporate priorities," Mr. Smith points
out. "Having such access to the premier experts in the field, and the insights
they will provide, can only be a positive development for High Plains," he
concluded.
Based in Wichita, Kansas, High Plains Corporation is among the Nation's largest
producers of ethanol. The Company operates production facilities in Colwich,
Kansas; York, Nebraska; and Portales, New Mexico.
<PAGE>
This press release contains forward-looking statements that are made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. Investors are cautioned that all forward-looking statements involve
risks and uncertainties, including without limitation risks of fluctuations in
feedstock commodity prices, changes in the market prices or demand for motor
fuels and Ethanol, legislative changes regarding air quality, fuel
specifications or incentive programs, as well as general market conditions,
competition and pricing. The Company believes that forward-looking statements
made by it are based upon reasonable expectations. However, no assurances can
be given that actual results will not differ materially from those contained in
such forward-looking statements. Additional information concerning these and
other factors is contained in the Company's Securities and Exchange Commission
filings, including its annual 10K, Proxy Statement, and quarterly 10Q filings,
copies of which are available from the Company without charge.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant had duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date March 18, 1999 HIGH PLAINS CORPORATION
/s/ Gary R. Smith
President
Chief Executive Officer
