Harvestone Group has announced the latest ethanol production facility to join its marketing, logistics and trading platform, Corn LP, a 75-million-gallon ethanol plant located in Goldfield, Iowa in the US.
Harvestone also welcomed Denco II, a 36-million-gallon ethanol plant in Morris, Minnesota, in July last year.
"Our group has put together a unique business model that aligns production with marketing and trading, thereby creating and capturing additional value further in the supply chain on behalf of producers,” commented Gunner Greene of Iroquois Bio-Energy Company. “As one of the first plants to make the transition, we have been very impressed with the value creation, which included netback improvements, service enhancements and full market transparency.”
"Corn LP is excited to make the transition to Harvestone,” added Corn LP’s Brady Hess. “It was an easy decision for us to make given the value proposition of the platform. This will give us what we believe an ethanol marketer should be, true alignment with opportunities to participate in upside from trading and optimisation. In this margin environment, fractions of cents matter and we see the Harvestone Group team focused and willing to do the extra work required to capture it on behalf of Corn LP.”
The ethanol plants are marketed exclusively through the Harvestone platform under five-year agreements and represent another volumetric milestone for the company.
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