Archer-Daniels-Midland opens its first US biodiesel plant

An Archer-Daniels-Midland canola-based biodiesel plant opened today outside Velva, ND. The plant is ADM’s first biodiesel facility in the US, although the company produces biodiesel in Europe.

Recently, the company said that it will continue with plans to build 550 Mgy in added ethanol capacity in 2008, but said that ADM would switch to high fructose corn syrup or lysine production if ethanol became unprofitable.

The added capacity comes in the form of two 275 Mgy plants, among the largest corn ethanol plants in the world.

Last month, ADM signed with ConocoPhillips to develop bio-crude, an alternative to ethanol. The company earned nearly 25% of its operating profit from ethanol before ethanol prices began to drop.

Free Subscription to the Daily Biofuels Digest e-newsletter

Related Stories

Canadian Bioenergy partners with Archer Daniels Midland to study feasibility of 70 Mgy biodiesel plant in Alberta

In Canada, Canadian Bioenergy said that it has partnered with Archer Daniels Midland to investigate the feasibility of a 70 Mgy biodiesel plant in Alberta. The canola-based biodiesel project would be ...

Biofuels Digest Index drops to new low of 80.02 as Archer Daniels Midland continues downwards spiral

The Biofuels Digest Index™ (BDI), a basket of public biofuels stocks, fell 4.42 percent Tuesday to close at an all-time low of 80.02 as Archer Daniels Midland (ADM) continued its long day's journey ...

Biofuels Digest Indexâ„¢ plunges 4.46 to 199.28 as investors punish earning miss by Archer Daniels Midland

The Biofuels Digest Indexâ„¢ (BDI), a basket of public biofuels stocks, plunged 4.46 percent yesterday to close at 119.28 after investors continued to punish Archer Daniels Midland (ADM) for missi...

Archer Daniels Midland, Grupo Carera partner in two sugar cane ethanol projects in Brazil

In Brazil, Archer Daniels Midland and Grupo Cabrera announced a partnership to develop sugarcane ethanol at two sugar mill, ethanol and biomass-to-power cogeneration plants in Minas Gerais and Goias s...

Archer Daniels Midland sees US ethanol market increasing 14 percent in 2010

In Illinois, Archer Daniels Midland said that it expects the US ethanol market to grow from 10.5 billion gallons to 12 billion in 2010. ADM executives said that, despite a reduction in fuel demand occ...

Archer Daniels Midland, others to take ownership in 17 Cooagrgi grain operations; converting from debt to equity after co-op stumbles

In Brazil, Archer Daniels Midland said that it is nearing an agreement to start a new company that would assume ownership of 17 Cooagri cooperative grain elevators, after Cooagri's credit lines evapor...