Provista Launched As a Marketer in Biofuels Industry
10 November 2006
CHS Inc., one of the US’ leading energy and grain-based foods companies, and US BioEnergy Corporation, a producer and marketer of ethanol and distillers grains, today jointly introduced Provista, a new ethanol and biodiesel marketing joint venture.
Provista will market 450 million gallons of ethanol from seven plants at the end of 2006—with plans to grow to 800 million gallons over the next year—and currently has 95 million gallons of biodiesel per year under contract.
Provista was formed on 31 March 2006, when CHS acquired a 50% interest in US BioEnergy’s ethanol marketing business. At the time Provista was formed, US BioEnergy entered into an ethanol marketing agreement with Provista.
CHS has marketed ethanol-blended fuels for more than 25 years and currently is one of the nation'’ largest suppliers of blended fuel products, which it distributes through 64 terminals. US BioEnergy currently operates two ethanol plants, one of which is in the process of expansion, and has three additional ethanol plants under construction. Upon completion of these initiatives, US BioEnergy will own and operate five plants with combined expected ethanol production capacity of 400 million gallons per year.
In addition to grain marketing and food processing, CHS also operates petroleum refineries/pipelines and, through a broad range of working partnerships, markets and distributes Cenex brand energy products and renewable fuels, along with agronomic inputs and livestock feed to rural America.
TrackBack URL for this entry:
Listed below are links to weblogs that reference Provista Launched As a Marketer in Biofuels Industry: