In the United States (US), Marathon Petroleum Corporation (MPC), a leading, integrated, downstream energy company and compatriot Archer Daniels Midland Company (ADM), one of the world’s largest agricultural processors and food ingredient providers, have announced the closing of their joint venture to produce soybean oil to supply the rapidly growing demand for renewable diesel. Named Green Bison Soy Processing, LLC will own and operate a soybean processing plant in Spiritwood, North Dakota (ND).
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Under the terms of the feedstock partnership agreement, Green Bison Soy Processing will own and operate ADM’s previously announced new soybean processing complex currently under development in Spiritwood, with ADM owning 75 percent of the joint venture and MPC owning 25 percent, as announced in August 2021.
Expected to be complete in 2023, the US$350 million Spiritwood facility will source and process local soybeans and supply the resulting soybean oil feedstock exclusively to MPC, primarily to Marathon’s revamped refinery in Dickinson, ND that has begun to produce renewable diesel.
The Spiritwood soybean processing complex is expected to produce approximately 600 million pounds (≈ 272 000 tonnes) of refined soybean oil annually, enough feedstock for approximately 75 million gallons (284 million litres) of renewable diesel per year.