In the United States (US), Harvestone Group LLC, a global commodity merchant focused in the biofuels sector has recently announced the commencement of its first four ethanol production facilities making the transition to its marketing, logistics and trading platform.
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Iroquois Bio-Energy Company LLC (IBEC), Rensselaer, Indiana (IN); Siouxland Energy Cooperative, Sioux Center, Iowa (IA); Red River Energy LLC, Rosholt, South Dakota (SD), and Quad County Corn Processors (QCCP), Galva, Iowa (IA) combine for over 210 million (US) gallons (≈ 795 million litres) of annualized ethanol production.
As a producer partner, we are excited to be a part of the first gallons transitioning onto the Harvestone platform. The group has put together a unique business model that aligns production with marketing and trading, creating and capturing additional value further in the supply chain, said Gunner Greene of IBEC.
These facilities will be exclusively marketed through the Harvestone platform under five-year agreements and represent a significant milestone for the company. Harvestone continues building on a solid foundation and unique business model; paving the way for future growth with continued plant transitions and expansion throughout the supply chain.
We continue to be impressed by the pace and precision with which the Harvestone team, investors and plant partners have been able to launch and begin executing this new platform. We have worked closely with the Harvestone team in the past and are excited to build on this new partnership, said Tom Miller of Siouxland.