As Demand for Renewable Diesel Grows, ADM, Marathon Petroleum Corp., and North Dakota Celebrate Groundbreaking of Green Bison Production Facility
02 Juin 2022 - 8:30PM
Business Wire
Spiritwood, North Dakota, facility – the state’s first
dedicated soybean processing plant – expected to be online by 2023
harvest
Vegetable oil produced at facility expected to support
approximately 75 million gallons of annual renewable diesel
production
Leaders from ADM (NYSE: ADM) and Marathon Petroleum Corp. (NYSE:
MPC), along with local, state and federal policymakers, today
celebrated the groundbreaking for North Dakota’s first dedicated
soybean processing facility. By harvest 2023, the plant – owned by
the previously announced ADM-MPC joint venture Green Bison Soy
Processing – is expected to be producing approximately 600 million
pounds of refined vegetable oil annually, which will be supplied
exclusively to MPC as a feedstock for renewable diesel.
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“The need for lower-carbon, more sustainable products is one of
the fundamental trends underlying ADM’s strategy and purpose, and
we’re proud to continue to scale up our leadership in this critical
area,” said Ken Campbell, ADM’s president of North America Oils,
Biodiesel and Renewable Chemicals. “Renewable diesel is a
potentially transformative opportunity for the oilseed industry,
for farmers, and for the sustainability of our transportation
system. We’re excited to celebrate our bright future, and we look
forward to working with MPC and producers across North Dakota as we
bring this state-of-the-art plant online in less than a year and a
half.”
“The Green Bison Soy Processing facility represents another step
in MPC’s commitment to investing in a sustainable, energy-diverse
future,” said Dave Heppner, MPC’s senior vice president of Strategy
and Business Development. “The Green Bison Soy Processing facility
will help us further optimize our renewable feedstock sourcing, and
we are excited about the opportunity to partner with ADM and the
state of North Dakota as we move forward with the development of
this facility.”
When complete, the approximately $350 million complex will
feature state-of-the-art automation technology and is expected to
have the capacity to process 150,000 bushels of soybeans per day.
Vegetable oil from the plant will be supplied exclusively to MPC to
serve as feedstock for the production of a targeted 75 million
gallons of renewable diesel annually.
The construction of the new complex is supporting hundreds of
jobs in the region, and the facility is expected to employ
approximately 75 people once operational.
“The new Green Bison Soybean Processing Plant brings together
several important and necessary components for success,” said
Dwaine Heinrich, mayor of Jamestown, North Dakota. “This joining of
two of the most important components of North Dakota's economy –
agriculture and energy – is made possible by a willingness to work
together to achieve goals that will in the end benefit the city of
Jamestown, Stutsman County and the entire state of North Dakota.
Our thanks and congratulations to ADM and MPC for their
collaboration to make this day possible.”
“As a Top 10 soybean-producing state, the ADM-MPC joint venture
is a game-changer that will provide lasting benefits for North
Dakota soybean growers,” North Dakota Gov. Doug Burgum said. “Green
Bison will add value and expand the market for one of our farmers’
most important crops, while also creating 75 direct jobs and
diversifying our economy to support our communities, our citizens
and the entire state. It’s also a shining example of the growing
synergy between our agriculture and energy sectors in North Dakota.
We appreciate ADM and MPC for this significant investment in our
state and their well-placed faith in our highly productive and
innovative farmers, and we’re grateful for the efforts of Lt. Gov.
Sanford and so many other state, federal and local partners who
helped make this happen.”
Forward-Looking Statements
Some of the above statements constitute forward-looking
statements. ADM and MPC’s respective filings with the SEC provide
detailed information on such statements and risks and should be
consulted along with this release. To the extent permitted under
applicable law, neither ADM nor MPC assume any obligation to update
any forward-looking statements.
About ADM
ADM unlocks the power of nature to enrich the quality of life.
We’re a premier global human and animal nutrition company,
delivering solutions today with an eye to the future. We’re blazing
new trails in health and well-being as our scientists develop
groundbreaking products to support healthier living. We’re a
cutting-edge innovator leading the way to a new future of
plant-based consumer and industrial solutions to replace
petroleum-based products. We’re an unmatched agricultural supply
chain manager and processor, providing food security by connecting
local needs with global capabilities. And we’re a leader in
sustainability, scaling across entire value chains to help
decarbonize our industry and safeguard our planet. From the seed of
the idea to the outcome of the solution, we give customers an edge
in solving the nutritional and sustainability challenges of today
and tomorrow. Learn more at www.adm.com.
About Marathon Petroleum Corporation
Marathon Petroleum Corporation (MPC) is a leading, integrated,
downstream energy company headquartered in Findlay, Ohio. The
company operates the nation's largest refining system. MPC's
marketing system includes branded locations across the United
States, including Marathon brand retail outlets. MPC also owns the
general partner and majority limited partner interest in MPLX LP, a
midstream company that owns and operates gathering, processing, and
fractionation assets, as well as crude oil and light product
transportation and logistics infrastructure. More information is
available at www.marathonpetroleum.com.
Source: Corporate Release
Source: ADM
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220602005255/en/
ADM Media Relations Jackie Anderson media@adm.com
312-634-8484
MPC Media Relations Jamal Kheiry
mediarelations@marathonpetroleum.com 419-421-3577
MPC Investor Relations Kristina Kazarian, Vice President
Brian Worthington, Manager Kenan Kinsey, Analyst 419-421-2071
ADM Investor Relations Michael Cross 217-451-4647
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