Photo: Platinum Crush

Aug 30, 2021

Iowa-Based Start Up to Build Soy Processing Plant

Platinum Crush will power renewable diesel, sustainable energy markets

source: Platinum Crush, LLC

A new soybean crushing plant that will be built in Buena Vista County near Alta, IA, pending state and local approvals, will propel value-added agriculture forward in Iowa.

Development partners Mike Kinley and Nick Bowdish have joined forces to develop Platinum Crush, LLC, the second, modern soybean processing facility in the state. Kinley is also leading the development of Shell Rock Soy Processing (SRSP), which is under construction in Butler County in northeast Iowa.

“Platinum Crush is positioned to extract all the value possible from locally-grown soybeans,” said Kinley, the managing member of Ag Development Group LLC, which develops value-added projects for the ag sector. “This plant can supply both food and fuel needs. It will also bring Buena Vista County and the surrounding area into the center of the global food and fuel economy.”

Platinum Crush will own the new facility, which will cost approximately $350 million to build.

Groundbreaking is slated for late 2021. When the plant becomes operational around March 2024, it will crush 38.5 million bushels of soybeans annually, or 110,000 bushels daily. It will also create 50 to 60 high-quality jobs.

“Not only will Platinum Crush create many high-quality jobs, but it allows northwest Iowa to build on its strong agricultural heritage,” said Bowdish, a leader in the development and management of Midwest ethanol plants, including Elite Octane in Atlantic, IA, and Siouxland Ethanol in Jackson, NE.

“This plant will expand farm income and help diversify the economy, which can benefit everyone in the region. The benefits stem from many different people all doing their part.”

Platinum Crush will be built adjacent to the CN Railway, which will service the facility.

“CN is pleased to see the next world-class soybean crush plant select our network to move value-added agricultural products to consumers all around the globe,” says James Cairns, senior vice president, rail centric supply chain, for CN Railway. ”We are excited about the opportunity to make this facility a reality in northwest Iowa.”

Platinum Crush, by the Numbers

Platinum Crush will produce 847,000 tons of soybean meal per year (2,420 tons per day) for livestock feed markets, 450 million pounds of crude soybean oil per year (1.28 million pounds per day), and 77,000 tons of pelleted soybean hulls per year (220 tons per day). The soymeal and soy hulls (which contain highly digestible fiber) will be used in livestock feed rations.

Soybean oil from Platinum Crush can be used for a variety of applications, including the human food industry and the rapidly expanding, renewable diesel bioenergy segment.

“Platinum Crush will add tremendous value to soybeans in northwest Iowa,” said Kinley, who noted that Ag Development Group and N Bowdish Company will own a portion of Platinum Crush. “By streamlining the supply chain, this plant will also save local soybean growers time and money, plus it will open up a more direct relationship with the processor.”

Platinum Crush will be able to unload trucks quickly, saving farmers and truckers a great deal of time when they deliver soybeans to the plant.

“This soybean crush plant is a farmer’s dream,” said David Mentzer, who farms in the Alta area. “Our closest plant is more than an hour away, and it’s notorious for having 3- to 4-hour waits. Platinum Crush will increase demand for soybeans in our area. More profit potential means farmers will likely add more soybeans to their crop rotation.”

The economic impact of Platinum Crush can’t be overstated, noted the Iowa Lakes Corridor Development Corporation (ILCDC).

“This is an exciting project for Buena Vista County, the Iowa Lakes Corridor region and the state of Iowa,” said Shannon Landauer, president and CEO of the ILCDC, which provides economic development services to northwest Iowa counties in the region to prepare for projects like this. “Bringing quality jobs to the area, while expanding market opportunities for local producers, is a perfect example of an economic development project in Iowa that has global reach. We’re excited to see this project become a reality.”

About Platinum Crush, LLC
Platinum Crush, LLC is developing a $350 million soybean-crushing plant in Buena Vista County, Iowa, near Alta. When operational in 2024, the facility will crush 38.5 million bushels of soybeans annually, or 110,000 bushels daily. The plant will create 50 to 60 high-quality jobs. Platinum Crush will also produce soy oil that can be used for a variety of applications, including livestock feed, the human food industry and the renewable biodiesel bioenergy segment.

Recently Added to Buyer's Guide

VersaMix Triple Shaft Mixers

  • For mixing applications requiring efficient powder dispersion and critical homogenization of medium to high viscosity slurries, pastes, gels, creams and suspensions
  • High-shear mixer with solids/liquid injection manifold (SLIM) technology rotor/stator

GUC-F Controller

  • Multichannel feeding and dosing controller
  • Control solution for feeding and weighing applications in powder handling applications
  • Flexible and modular design with analog and digital load cells

ProFlo

  • Offers accurate and reliable continuous mass flow measurement of bulk solids with an accuracy of +/- 0.5% full scale
  • Measures mass of flowable solids with densities of 10 to 100 pounds/cubic foot and flow rates from 700 to 7,000 cubic feet/hour

Hydro-View

  • 10.1” touchscreen
  • Easy to install in new or existing systems

Sanderson Farms Feed Mill Expansion - Kinston, NC

  • Construction of a whole grain silo expansion (76’ diameter x 145’ tall) to hold 500,000 bushels
  • Expansion also includes a 12’x17’x22’ deep boot pit extension at the end of the existing receiving tunnel

Horizon Feed Ordering Automation Platform

  • Automates many processes within supply chain for efficient, sustainable and profitable production
  • Manage all bins and orders on a single software platform

Magazine

Marketwatch: Jan, 18

US Corn Price Idx: ZCPAUS.CM

open: 5.7667
high: 5.8486
low: 5.7266
close: 5.8288

US Soybean Price Idx: ZSPAUS.CM

open: 13.366
high: 13.376
low: 13.2328
close: 13.2696

US Hard Red Winter Wheat Price Idx: KEPAUS.CM

open: 7.3061
high: 7.3384
low: 7.2334
close: 7.2454

US Soft Red Winter Wheat Price Idx: ZWPAUS.CM

open: 7.0114
high: 7.0566
low: 6.9566
close: 7.0014