Tell us about your organization and it’s role in the advanced bioeconomy.

Aventine is a $1 billion corn processing company using three different technologies of both corn wet milling and corn dry milling to produce over 320 million gallons of ethanol, yeast, Dried distillers grain, corn gluten feed, corn gluten germ, corn oil, and captured CO2.

Tell us about your role and what you are focused on in the next 12 months.

Continue the wildly successful turnaround efforts at Aventine after having paid down over $80 million of debt and invested $50M in CAPEX in 2014.
1. Complete Coal to NG conversion in Pekin
2. Install additional corn storage at both Aurora, Nebraska facilites.
3. Build in the BNSF Railroad eliminating any reliance on Aurora Coop.
4. Continue to drive for zero OSHA recordable injuries with a 300 person workforce.
5. Install corn oil in each Nebraska facility to be sold to biodiesel producers
6. Consider strategy for micro biodiesel plant installation
7. Break 2014 profitability and production records
8. Continue to refine and optimize all plants using the latest technology to drive margins.
9. Evaluating front end fractionization of dry mills
10. Continue supporting blender pumps of E15 to break the blend wall
11. Move corn ethanol into a 20 billion gallon slot since advanced biofuels have never delivered (KIOR and others)

What do you feel are the most important milestones the industry must achieve in the next 5 years?

1. Maintain the RFS or advanced biofuels have ZERO chance of making it in the economy
2. Move corn ethanol into the advanced biofuels areas as a result of no delivery by these advanced technologies
3. The industry needs to be profitable or capital will quit chasing this industry, and I think it close to quitting.
4. Compete with corn starch

If you could snap your fingers and change one thing about the advanced bioeconomy, what would you change?

Huge financial losses of almost all companies in the advanced bio economy resulting in investor fatigue. Is the industry riddled with people who only know how to spend and none know how to make money? In the end, the only way to increase fuel demand is by raising the blend wall.

Of all the reasons that influenced you to join the advanced bioeconomy industry, what single reason stands out for you as still being compelling and important to you?

There is always the chance in finding a technology that may “bolt on” to increase current efficiency at one of our plants. Or, there may be technologies that work in an over the fence operation next to one of our assets.

Where are you from? 

North central Iowa on a corn and soybean farm. I spent my time in FFA and I will never forget showing my 4-H club calf, “Curly.” Curly never knew how to “moo” until I showed him at the county fair.

What was your undergraduate major in college, and where did you attend? Why did you choose that school and that pathway? 

Ag Econ at Purdue University
Graduate work at Univ. Of Chicago
Always interested growing things, processing things,and trading commodities. The farm crisis encapsulated Iowa and Purdue was a way to learn, “don’t look in your backyard and think everything is like it.”

Who do you consider your mentors. What have you learned from them?

John McNamara, former president of ADM: network and meet people, you never know what will develop
Pearce Lyons- a man who knew fermentation, took $10,000 and made $2.2 billion
John Holland – he taught me how to do road shows and sell a vision. He also taught me the importance of superb modeling that demonstrates the true value of a company
Mike McFate- the need to fix things and don’t live with the sins of the past (Aventine, a very tortured and mismanaged company)
Craig Huss- earnings, making money is key, if you don’t make money or know how to then join the government.
Joe Boerr-a successful restaurant entrepreneur, “if I wanted to serve food and not make money I would work for the Salvation Army.”

What’s the biggest lesson you ever learned during a period of adversity?

Have a vision, know the end goals, know your bandwidth, focus on blocking and tackling, and hoard cash.i. I faced this at Aventine, the company only had one plant operating at 70% of capacity, the operations were melted down, the old management team was more worried about severance than me in my new role so they sabotaged time, and I monetized inventory to provide liquidity and prevent another Aventine bankruptcy.
Get rid of legacy people in a failed company, they think the old way not your way.
Hire a good management team and pay them well.
Immediately develop a strategic plan and communicate it to the owners. And be ready to sell the plan when you need owners to place more cash in the company. Road show selling is critical.

What hobbies do you pursue, away from your work in the industry? 

I enjoy boating both on the ocean and on lakes with my family. My four children and wife are awesome. Due to Aventine’s near BK again, I did not move my family to Peoria, Illinois. My wife has been a saint keeping the family together while I commute To Pekin and Nebraska. Italy is my second home. I enjoy wine, food, and people.

What 3 books would you take to read, if stranded on a desert island?

The Bible, I really enjoy reading St. Paul’s letters, he was one of the smartest who walked the earth.
Killing Patton, hopefully this would result in me writing a book,
“Killing fish the lazy way so you can exist on a desert island”
Marin Short’s new book

What books or articles are on your reading list right now, or you just completed and really enjoyed?

Killing Jesus, have not finished but it is a good read
Boards That Lead
I like to read the books my 6 yrs. Old brings home from school. She brings home these 10 pagers. To that I say, ” Wow, I know a lot more than her, but her simple life is just about perfect.”

What’s your favorite city or place to visit, for a holiday?

I enjoy the coast of California and my wife will be joining me
Marco Island Florida
Almost any city in Italy