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32 min ago 2 min read
Investment firm Energy Capital Partners (ECP) will sell Harvestone Low Carbon Partners (HLCP) to Ohio-based ethanol producer The Andersons for an enterprise value of $915m.
Low-carbon biofuels producer HLCP has three ethanol biorefineries that produce a combined 215 million gallons of ethanol per year and are each located near geology suitable for carbon capture and storage (CCS).
The Blue Flint and Dakota Spirit facilities are in North Dakota, and the Iroquois Bio-Energy Company facility is in Indiana.
The deal would increase The Andersons’ renewables platform by more than 40%, bringing its combined annual ethanol production capacity to around 730 million gallons.
The transaction is expected to close in Q4 2026 or early in Q1 2027, subject to regulatory approvals and closing conditions.
Bill Krueger, President and CEO of The Andersons, said, “[HLCP’s] production economics, established low-carbon ethanol capabilities, and strategically advantaged locations complement our existing network.”
The Andersons said the deal would place it among a very limited number of US ethanol producers with demonstrated Class VI carbon dioxide (CO2) injection capabilities.
CO2 began at HLCP’s Blue Flint ethanol CCS project facility near Underwood, North Dakota, in .
More widely, renewable chemicals and biofuels company Gevo 10,000 CO2 removal credits to an unnamed corporate buyer from its North Dakota bioenergy with carbon capture and storage facility.
