Harvestone Welcomes Another Ethanol Plant onto Its Platform
FRANKLIN, Tenn., Jan. 7, 2020 /PRNewswire/ -- Harvestone Group is excited to announce another ethanol production facility making the transition to its marketing, logistics and trading platform. CORN LP, a 75-million-gallon ethanol plant in Goldfield, IA transitioned onto the Harvestone platform as of January 1st. The Group also transitioned DENCO II, a 36-million-gallon ethanol plant located in Morris, MN in July of 2019.
"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. 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," said Gunner Greene of IBEC.
"CORN LP is excited to make the transition to Harvestone. 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 optimization. In this margin environment, fractions of cents matter and we see the HG team focused and willing to do the extra work required to capture it on behalf of CORN LP" Brady Hess of CORN LP.
These facilities are exclusively marketed through the Harvestone platform under five-year agreements and represent another volumetric milestone for the company. Harvestone continues building on a solid foundation and unique business model; paving the way for future growth with several more plant transitions and expansion throughout the supply chain over the next several months.
About Harvestone Group LLC
Harvestone Group, and its affiliated companies, is a global commodity merchant focused in the biofuels sector. The company is backed by a community of producers representing over 1.3B gallons of production capacity in partnership with strategic commodity investors in the energy and agriculture sectors. Harvestone transacts across the supply chain to include production, marketing, storing, distributing, and trading as well as invests in physical assets that create meaningful long-term value.
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SOURCE Harvestone Group