TelestackCleveland Cascades LtdTMS Awards 2021Coaltrans Asia 2021TBA GroupSailors Society
  • Van Aalst
  • Cleveland Cascades Ltd
  • TMS Awards 2021
  • Telestack
  • Vigan
  • The Wolfson Centre for Bulk Solids Handling Technology

Marathon to invest in ADM’s soybean facility

Marathon to invest in ADM’s soybean facility

(Posted on 23/08/21)

Marathon Petroleum Corp and ADM have announced an agreement to form a joint venture for the production of soybean oil to supply rapidly growing demand for renewable diesel fuel. Under the terms of the agreement, the joint venture will own and operate ADM’s previously announced soybean processing complex in Spiritwood, North Dakota, with ADM owning 75 percent of the joint venture and MPC owning 25 percent. When complete in 2023, the Spiritwood facility will source and process local soybeans and supply the resulting soybean oil exclusively to MPC. The Spiritwood complex is expected to produce approximately 600 million pounds of refined soybean oil annually, enough feedstock for approximately 75 million gallons of renewable diesel per year.

In addition to the Spiritwood joint venture, the companies anticipate working together to explore other opportunities for agriculture to support renewable transportation fuels.

“ADM has always been at the forefront of innovative fuels made from nature, and we are uniquely positioned to take action to reduce the carbon intensity of our business and lead our industry as we live our purpose,” said Ken Campbell, ADM’s president of North America Oils, Biodiesel and Renewable Chemicals. “We already provide MPC with soybean oil for renewable diesel production, but this agreement will significantly expand our collaborative relationship. Together, MPC and ADM have the expertise, scale and capabilities to deliver sustainable outcomes that start on the farm and go all the way to the fuel in millions of commercial and personal vehicles — and in this case, supporting renewable diesel demand that we believe may be as much as 5 billion gallons by 2025. And what’s even more exciting is that we see the opportunity to work together to do more to support sustainable solutions.”

“At MPC, we are challenging ourselves to lead in sustainable energy,” said Dave Heppner, MPC’s senior vice president of Strategy and Business Development. “This joint venture marks another step in advancing our ability to optimize and source logistically advantaged feedstock for our nearby Dickinson facility, and also creates a platform for further collaboration with a world-class partner as we continue to invest in a sustainable, energy-diverse future.”

When complete, the approximately $350 million complex in Spiritwood will feature state-of-the-art automation technology and have the capacity to process 150,000 bushels of soybeans per day. The construction of the new complex is supporting hundreds of jobs in the region, and the facility will employ approximately 75 people once operational. The Spiritwood complex is expected to begin production for the 2023 harvest.

Latest News

Rio Tinto expands Pilbara presence with new Karratha Hub

(Posted on 16/10/21)

Rio Tinto Iron Ore Chief Executive, Simon Trott and Rio Tinto Managing Director of Port, Rail and Core... Read more


Collaboration for first carbon neutral copper cathode delivery

(Posted on 13/10/21)

BHP and leading US copper cable and wire manufacturer, Southwire, have completed their first ‘... Read more


Carbon tracking for Trafigura’s nickel and cobalt trading

(Posted on 11/10/21)

Trafigura Pte Ltd, one of the world’s largest physical commodity trading companies, and Circulor... Read more


Rusal and TransContainer develop green logistics

(Posted on 11/10/21)

RUSAL, a leading global aluminium producer and PJSC TransContainer (part of the DELO Group), an intermodal... Read more


Host joins IIMA

(Posted on 04/10/21)

The International Iron Metallica Association has welcomed Host as the latest member to join its community... Read more


First Mill E3 set to revolutionize the milling industry

(Posted on 29/09/21)

Bühler is announcing a transformative moment in the history of flour milling with the opening of... Read more


First Mill E3 set to revolutionize the milling industry

(Posted on 29/09/21)

Bühler is announcing a transformative moment in the history of flour milling with the opening of... Read more


Rio Tinto triples Weipa bauxite mine solar capacity

(Posted on 21/09/21)

Rio Tinto has approved a new solar farm and battery storage at Weipa in Queensland, in a move that will... Read more


Trafigura raises USD400 million US Dollar Bond

(Posted on 21/09/21)

Trafigura Group Pte Ltd, one of the world’s leading independent commodity trading companies, has... Read more


Rio Tinto teams with Caterpillar for zero-emissions autonomous trucks

(Posted on 16/09/21)

Rio Tinto and Caterpillar have signed a Memorandum of Understanding (MoU) for Caterpillar’s development... Read more


Van AalstViganPort of StocktonTOC EventsBühler GmbHPort of South Louisiana
  • TBA Group
  • Port of South Louisiana
  • Port of Stockton
  • Sailors Society

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping