WASHINGTON, April 14, 2016 - The Summit Agriculture Group, headquartered in
Alden, Iowa, has broken ground on what will be Brazil’s first dedicated corn
ethanol plant.
Summit says the $115 million facility will be the most
modern and efficient ethanol plant in the world, and, when fully operational by
mid-2017, will employ nearly 90 people and produce 60 million gallons of ethanol
annually for domestic markets.
Summit founder and CEO Bruce Rastetter said
the plant will help Brazil offset its “increasing demand for domestic ethanol,
which can’t be met by the existing sugarcane ethanol production” and “introduce
valuable high fiber and high protein co-products (into the region), which will
serve as high-value feed for the Brazilian livestock industry.”
“Through Summit’s expertise in sustainable agriculture,
investment and renewable energy, we will further realize the enormous corn
growing potential of a region that is poised to become a global leader in corn
ethanol production,” Rastetter added. The plant is located in Lucas do Rio Verde
in the west-central state of Mato Grosso – the country’s largest producer of
corn and soybeans.
Summit is partnering with Fiagril – a biodiesel production
company that also deals in grain trading, crop inputs and infrastructure
development in Brazil – and Kansas-based ICM,
which develops equipment and processes used in ethanol plants.
Marino Franz, founder of Fiagril, said “Mato Grosso has
set the standards for Brazilian agriculture and business development for years,
and thanks to this effort, the region will grow to new heights in the area of
renewable fuels.”
Brazil produces 25 percent of the world’s ethanol today
with sugar cane, and is scheduled to produce about 8.1 billion gallons of the
fuel this year. By adding corn ethanol production to the mix, Bank of America
estimates annual ethanol sales from the country would reach 13.5 billion
gallons by 2022.
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