Statement from Terry Angstadt, president of the commercial division of the Indy Racing League, regarding the Indy Racing League and ethanol
"The IndyCar Series is proud to be fueled by ethanol, a renewable energy fuel. For the last three years, ethanol has been the official fuel as a result of a sponsorship agreement with the ethanol producers and EPIC, the Ethanol Promotion and Information Council. The ethanol producers recently notified the IndyCar Series that it would not be renewing the agreement for 2009 and beyond and EPIC is ceasing operation.
No one from any other part of the American-based ethanol community stepped forward with a substantial proposal. Soon after, the IndyCar Series and APEX-Brasil reached a preliminary agreement. As part of that agreement, we plan on starting our 2009 season with American-produced ethanol. Opportunities still exist for American ethanol companies and organizations to continue involvement in the IndyCar Series.
The IndyCar Series is pleased to continue to be the only major American racing series fueled by 100 percent fuel grade ethanol. APEX will use the IndyCar platform to promote a variety of Brazilian products, services and opportunities, including ethanol. We look forward to working with American producers and Brazilian producers of ethanol to promote ethanol as a renewable energy source and part of the solution to lessen the United States' reliance on Middle Eastern oil."