Pat Bowe, chief executive officer of The Andersons.

“This investment executes on several of our stated strategic priorities, such as operating highly efficient and profitable ethanol production facilities, increasing capacity under management, developing new technologies with higher value co-products and expanding our fee-based services offering,” said Pat Bowe, chief executive officer of The Andersons.

The Andersons said the new bio-refinery will be designed to be the most efficient dry mill ethanol plant in the United States. The facility will feature several things that differentiate it from other plants in the industry, The Andersons said, including waste wood heat and power generation, high protein distillers dried grains (DDGs), cellulosic ethanol production using corn kernel fiber feedstock and advanced corn oil production.

The plant is expected to produce ethanol yields in excess of 3.1 gallons per bushel at full capacity, The Andersons said. The ethanol produced by Element will be sold primarily in California under the state’s progressive Low Carbon Fuel Standard as well as in other emerging low carbon markets, The Andersons said.

“Twelve years ago, we worked with ICM to build the first of our ethanol plants,” said Mike Irmen, president of The Andersons Ethanol Group. “Since then, our ethanol business has grown to become a significant contributor to our company’s success and an important part of our vision for the future. We are excited to begin this partnership with ICM and eagerly anticipate the value it will bring to our company, our customers, and our shareholders.”

Dave VanderGriend, ICM founder and CEO added, “This collaboration brings two leading players in the corn-ethanol industry together. At the core, we have similar values, similar expectations of excellence, and the same relentless pursuit to improve our businesses, our people and our communities.”

Founded in Maumee, Ohio, U.S., in 1947, The Andersons is a diversified company rooted in agriculture, conducting business across North America in the grain, ethanol, plant nutrient and rail sectors. The Andersons Ethanol Group operates ethanol plants in Albion, Michigan, U.S.; Clymers, Indiana, U.S.; Greenville, Ohio, U.S.; and Denison, Iowa, U.S. The four plants combined are capable of producing over 475 million gallons of ethanol annually.

Established in 1995 and headquartered in Colwich, Kansas, U.S., with a regional office in Brazil, ICM, Inc. provides innovative technologies, solutions, and services to sustain agriculture and to advance renewable energy, including ethanol and feed technologies that will increase the supply of world protein. ICM provides proprietary process technologies to more than 100 facilities globally with a combined production capacity of approximately 8.8 billion gallons of annual ethanol production and 25 million tons of annual distillers grains.