July 13, 2021
BY Summit Agricultural Group
Summit Agricultural Group, through its investment affiliate Summit Ag Investors, is pleased to announce the acquisition of Prairie Horizon Agri-Energy, a biorefinery in Phillipsburg, Kansas. Summit will construct a state-of-the-art wheat protein ingredients facility and retrofit the existing corn-based ethanol plant to produce ethanol from wheat starch. Upon completion of the ingredients plant and final conversion, the company will be the largest wheat protein producer in North America and will generate low carbon intensity renewable fuel.
“Recognizing the rising demand for high protein ingredients and innovative feed products, coupled with renewable fuels that reduce our carbon footprint, this investment fits with what we have successfully done many times in Summit’s history. We evaluated several sites in various wheat-growing areas and Prairie Horizon is ideally located. The wheat protein we will produce is a healthy ingredient used widely within baked goods, pet food and growing aquaculture feed markets. Today, wheat protein demand in the US is heavily reliant on imports and with consumers demanding more transparency about the origins of the food they eat, we see a real opportunity,” said Bruce Rastetter, CEO of Summit Agricultural Group.
Advertisement
Advertisement
Summit will utilize best in class construction and engineering providers for the project which will total more than $200 million. The ingredients plant will be operational within two years and will be the largest wheat protein facility in North America.
“We ran a thorough search across the US to identify the best site to execute on this strategy around plant proteins, which leverages Summit’s legacy operating in the biofuels and agriculture sectors. Given Prairie Horizon’s direct access to abundant local wheat production and Kansas’ business-friendly environment, we believe we have a significant advantage. Our investment will bring additional jobs to rural America, increase the domestic supply of sustainable protein ingredients, reduce reliance on imports, and further reduce our carbon footprint through this proven process,” said Justin Kirchhoff, president of Summit Ag Investors.
Advertisement
Advertisement
This project is another example of Summit’s innovative approach and focus on decarbonization at the intersection of the agriculture and energy industries. Summit Carbon Solutions, a separate portfolio company of Summit Agricultural Group, is pioneering the development of the world’s largest carbon capture and storage infrastructure project.
Neste Corp. on July 24 released second quarter results, reporting record quarterly renewable product sales volumes despite weaker margins. SAF sales were up nearly 80% when compared to the first quarter of 2025.
Valero Energy Corp. on July 24 released second quarter results, reporting a profitable three-month period for its ethanol segment. The renewable diesel segment posted a loss, but the company’s new sustainable aviation fuel (SAF) unit operated well.
The IRS on July 21 published a notice announcing the 2025 calendar-year inflation adjustment factor for the Section 45Z clen fuel production credit. The resulting adjustment boosts maximum the value of the credit by approximately 6%.
U.S. Secretary of Agriculture Brooke L. Rollins today announced the reorganization of the USDA, refocusing its core operations to better align with its founding mission of supporting American farming, ranching, and forestry.
The U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy is soliciting public comments on a preliminary plan for determining provisional emissions rates (PER) for the purposes of the 45Z clean fuel production credit.