ADM: Commissioning nearly complete on soybean processing plant
SOURCE: ADM
October 24, 2023
BY Erin Voegele
The North Dakota-based soybean processing plant developed by a joint venture (JV) of Archer Daniels Midland Co. and Marathon Petroleum Corp. is currently undergoing commissioning and expected to reach full production in November, according to comments made by ADM Chief Financial Officer Vikram Luthar during the company’s third quarter earnings call on Oct. 24.
ADM and Marathon first announced plans for the project in December 2021 and broke ground on the facility in mid-2022. The JV, named Green Bison Soy Processing LLC, owns and operates the facility, located in Spiritwood, North Dakota.
The facility supplies soybean oil to Marathon, which operates a renewable diesel facility in Dickison, North Dakota. Once fully operational, the facility will have the capacity to process 1.5 million metric tons, producing enough soybean oil to manufacture approximately 75 million gallons of renewable diesel annually.
Advertisement
Overall, ADM reported $1.421 billion in segment operating profit for the third quarter, down from $1.559 billion during the same period of last year. Adjusted operating profit was $1.492 billion, down from $1.579 billion. Earnings per share for the third quarter were at $1.52, down from $1.83 during the same quarter of 2022, with adjusted earnings per share at $1.63, down from $1.86.
Advertisement
Related Stories
The U.S. EPA on May 14 delivered two RFS rulemakings to the White House OMB, beginning the interagency review process. One rule focuses on RFS RVOs and the other focuses on a partial waiver of the 2024 cellulosic RVO.
The U.S. EPA on May 15 released data showing nearly 1.79 billion RINs were generated under the RFS in April, down from 2.09 million generated during the same month of last year. Total RIN generation for the first four months of 2025 was 7.12 billion.
Calumet Inc. on May 9 announced sustainable aviation fuel (SAF) capacity at its Montana Renewables biorefinery is expected to reach 120 MMgy to 150 MMgy sooner than previously reported for a fraction of the originally expected cost.
Tidewater Renewables on May 8 announced that its 3,000-barrel-per-day renewable diesel plant in Prince George, British Columbia, operated at 75% capacity during the first quarter, up from 71% during the same period of last year.
Aemetis Inc. released Q1 results on May 8, reporting increased biogas production, progress with efficiency improvements at the Keyes ethanol plant, and resumed biodiesel deliveries. Financing activities are also underway for a proposed SAF project.
Upcoming Events
