Archer Daniels Midland Company (ADM) and Millennium Ethanol have formed an ethanol marketing agreement through which ADM will market all ethanol produced by Millennium Ethanol at its forthcoming 100 million gallon Marion, South Dakota facility.
Millennium Ethanol LLC is owned by 914 South Dakota investors, including farmers and business people from across the state. The plant has a design capacity to produce 100 million gallons of ethanol and 320,000 tons of dried distillers grains per year.
ADM—already the largest producer of ethanol in the US—plans to invest about $2.3 billion before 2009 to expand further its capacity for the production of ethanol and other biofuels and on the development of PHA (polyhydroxyalkanoate, a biodegradebable plastic made from plant sugar). (Earlier post.)
ADM’s board has already approved a set of projects that will add an extra 550 million gallons per year to the company’s current 1.2-billion gallon capacity.