ADM, Marathon Petroleum Corp. Take Next Step in Meeting Demand for Renewable Fuels as Green Bison Production Facility Begins Operations
14 Novembre 2023 - 6:00PM
Business Wire
ADM (NYSE: ADM) and Marathon Petroleum Corp. (NYSE: MPC) today
celebrated the opening of their joint venture soybean processing
complex, Green Bison Soy Processing, with a ribbon-cutting
ceremony. The Green Bison facility in Spiritwood is North Dakota's
first dedicated soybean processing complex, and is a major step
towards meeting increased demand for renewable fuels, in this case
renewable green diesel.
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the full release here:
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Green Bison Soy Processing will source and process local
soybeans, with the resulting oil supplied exclusively to Marathon
as a feedstock for renewable fuels. The facility will produce
approximately 600 million pounds of refined soybean oil annually,
enough feedstock for approximately 75 million gallons of renewable
green diesel per year. The approximately $350 million complex
features state-of-the-art automation technology and has the
capacity to process 150,000 bushels of soybeans per day. Green
Bison Soy Processing began receiving soybeans in September of 2023
and is in the commissioning and startup phase of processing
soybeans for meal and oil.
“Sustainability is one of the enduring trends driving changes in
structural global demand, and this investment helps position ADM,
as a leader in our industry, to deliver on that demand,” said Greg
Morris, president of ADM’s Ag Services & Oilseeds business.
“The continued growth in demand for renewable green diesel presents
a transformative opportunity for the oilseed industry, for
producers, and for increasing the sustainability footprint of our
transportation system, and we’re proud to join with Marathon
Petroleum as leaders in that transformation. We’re excited for the
start of production and look forward to working together to support
sustainable solutions for the food and fuel industries.”
“As we continue challenging ourselves to lead in sustainable
energy, our joint venture with ADM not only strengthens our
presence in North Dakota, but also gives us the opportunity to
collaborate further with a world-class partner as we continue
investing in a sustainable, energy-diverse future,” said Dave
Heppner, Marathon’s senior vice president of Strategy and Business
Development. “Green Bison Soy Processing’s Spiritwood facility is
an important milestone in our ability to source and optimize
logistically advantaged feedstock for our growing renewable fuels
business.”
Adding a continuous economic impact in various aspects, the new
complex has supported hundreds of jobs in the region and currently
employs approximately 75 people.
Additionally, Green Bison Soy Processing was recognized by the
Economic Development Association of North Dakota as the 2023
Economic Development Project of the Year announced in September of
2023. The award recognizes an organization that has worked to
positively impact the economic health of the community, region or
state.
“The Green Bison Soy Processing facility creates a wonderful
opportunity and lasting benefits for our area farmers and statewide
soybean growers. Having two of the most important components of
North Dakota's economy, agriculture and energy, coming together on
a project like this is a significant benefit to the city of
Jamestown and the surrounding communities,” said Dwaine Heinrich,
mayor of Jamestown, North Dakota. “While this facility provides
added value for our farmers, it is also a significant investment to
the community of Spiritwood through job creation. We are very
appreciative to ADM and Marathon for their collaboration to make
this project possible.”
Forward-Looking Statements
Some of the above statements constitute forward-looking
statements. ADM and Marathon’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 Marathon 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. Marathon's
marketing system includes branded locations across the United
States, including Marathon brand retail outlets. Marathon 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
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version on businesswire.com: https://www.businesswire.com/news/home/20231114108080/en/
ADM Media Relations Jackie Anderson media@adm.com (312)
634-8484
Marathon Contacts: (419) 421-2071 Kristina Kazarian, Vice
President, Finance and Investor Relations Brian Worthington,
Director, Investor Relations Kenan Kinsey, Supervisor, Investor
Relations
Jamal Kheiry, Communications Manager
MediaRelations@marathonpetroleum.com (419) 421-3577
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