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Marathon Petroleum, ADM Close Feedstock Partnership

Expected to be complete in 2023, the $350M Spiritwood facility will source and process local soybeans

PIXABAY
PIXABAY

Marathon Petroleum Corp. and ADM announce the closing of their joint venture to produce soybean oil to supply the rapidly growing demand for renewable diesel fuel.

The joint venture, which is named Green Bison Soy Processing, LLC, will own and operate a soybean processing complex in Spiritwood, ND, with ADM owning 75% of the joint venture and MPC owning 25%, as previously announced in August.

Expected to be complete in 2023, the $350 million 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.

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