Archer Daniels Midland to open two new plants
Illinois-based Archer Daniels Midland (ADM) is set to become the US’ biggest producer of bioethanol despite an 83% drop in profits in the fiscal fourth quarter.
The company is due to open new 275 Mgy bioethanol plants: one in the fourth (calendar) quarter of 2009 and one in Q3 2010. It anticipates that demand for ethanol will be driven by an expected increase in the permitted percentage of ethanol in US petrol.
The current limit is 10%, but the Environmental Protection Agency (EPA) is currently considering a petition from the ethanol industry lobby group Growth Energy to allow E15 blends.
‘Even if [the EPA] does not respond to go all the way to 15, it is our expectation, or hope, that E12 on the way to E15 is one of the likely outcomes,’ ADM CEO Patricia Woertz said on 4 August.
The company is due to open new 275 Mgy bioethanol plants: one in the fourth (calendar) quarter of 2009 and one in Q3 2010. It anticipates that demand for ethanol will be driven by an expected increase in the permitted percentage of ethanol in US petrol.
The current limit is 10%, but the Environmental Protection Agency (EPA) is currently considering a petition from the ethanol industry lobby group Growth Energy to allow E15 blends.
‘Even if [the EPA] does not respond to go all the way to 15, it is our expectation, or hope, that E12 on the way to E15 is one of the likely outcomes,’ ADM CEO Patricia Woertz said on 4 August.
Loading ...
