Monsanto Company announced today that it’s joining forces with Indy Racing League and Team Ethanol to drive awareness around ethanol and its use as a renewable energy resource.

Beginning this season, Monsanto will be a sponsor of Team Ethanol in the Indy Racing League IndyCar Series. Team Ethanol, which is operated by the Hemelgarn Racing team, has been leading the League’s transition to this renewable fuel.

Earlier this week, the Indy Racing League’s IndyCar Series announced that the ethanol industry will become the IndyCar Series fuel supplier by the 2007 racing season.  This partnership paves the way for the first fuel conversion in the IndyCar Series in four decades. 

Kerry Preete, Monsanto’s vice president of US crop production, believes the company’s sponsorship will help raise public awareness around this corn-based fuel and its ability to serve as a Midwest-based renewable resource thus reducing our nation’s reliance on foreign oil.

“Monsanto is pleased to be a part of the IndyCar Series’ fuel conversion and assist our nation’s corn farmers in generating a greater understanding about ethanol and its ability to reduce our nation’s dependence on foreign oil sources,” said Preete.

“Our research, including Processor Preferred High Fermentable Corn that yields more ethanol, is playing an important role in the advancement and overall success of the ethanol industry,” Preete added. “This sponsorship underscores Monsanto’s commitment to the U.S. agriculture industry and our focus on supporting new markets for American producers.”

IndyCar racecars have been utilizing methanol fuel since the 1960’s, but the League will begin its conversion to fuel-grade ethanol at the start of the 2006 racing season.  Next year will serve as the transition year for the IndyCar Series. The League will require cars to be fueled by a maximum blend of 90% methanol and 10% ethanol.  By 2007, the League plans to use 100% fuel-grade ethanol for its IndyCar Series cars.

Monsanto applauds the vision and leadership of ICM, Inc., Fagen, Inc., Broin Companies, the Renewable Fuels Association, the American Coalition for Ethanol, Hemelgarn Racing and the Indy Racing League who have led the efforts to deliver this new platform to promote corn’s fastest growing market, ethanol.

The Team Ethanol sponsorship was created through the cooperation of a group of companies within the ethanol industry. The effort has been led by the major ethanol design-build firms Fagen Inc., ICM Inc. and Broin Companies as well as other ag-related stakeholders including Monsanto.

Monsanto's Commitment To Bioenergy

Today's announcement builds upon Monsanto's commitment to the corn and ethanol industries. For several years, Monsanto has worked closely with industry leaders through sponsorships, research, marketing and related initiatives to deliver improved corn for the ethanol industry, drive increased fuel ethanol demand and expand fuel ethanol infrastructure to support that demand. 

Today, thirty-eight dry mill ethanol plants are using Processor Preferred High Fermentable Corn that yields more ethanol and is offered in over ninety corn seed brands. Monsanto also placed the first-ever U.S. corporate order for pick-up trucks that use E85, a blend of 85 percent ethanol and 15 percent gasoline. To date, the company has purchased more than 400 E85 vehicles to support U.S. corn growers and the nation’s growing ethanol industry.