IA Plant Moves to Harvestone Platform

CORN LP's Iowa Ethanol Plant Moves to Harvestone Platform

OAKHURST, N.J. (DTN) -- Harvestone Group announced CORN LP, a 75-million-gallon ethanol plant in Goldfield, Iowa, transitioned onto the Harvestone marketing, logistics and trading platform as of Jan. 1.

The Group also transitioned DENCO II, a 36-million-gallon ethanol plant located in Morris, Minnesota, in July 2019.

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.

"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," said Brady HESS of CORN LP. "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."

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 1.3 billion 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.

(BM/AG)