Business Description
We own and operate a 60 million gallon per year ethanol production facility
located in Keyes, California (the Keyes plant). The facility produces its own
combined heat and power (CHP) through the use of a natural gas-powered steam
turbine and reuses 100% of its process water with zero water discharge. In addition
to ethanol, the Keyes plant produces Wet Distillers Grains (WDG), Distillers
Corn Oil (DCO), and Condensed Distillers Solubles (CDS), all of which are sold
to local dairies and feedlots as animal feed. The primary feedstock for the
production of low carbon fuel ethanol at the Keyes facility is Number Two yellow
dent corn. The corn is procured from various Midwestern grain facilities and
shipped, via Union Pacific Rail Road, to an unloading facility adjacent to the
plant.
We also lease a site near the Keyes plant where we plan to utilize waste-to-fuel
technology that we have licensed from LanzaTech (the LanzaTech Technology) to
build a cellulosic ethanol production facility (the Keyes Cellulosic Ethanol
Facility) capable of converting local California biomass waste – including
agricultural waste, forest waste, dairy waste, and construction and demolition
waste – to ultra-low carbon cellulosic ethanol. The Keyes Cellulosic Ethanol
Facility plans to utilize the distillation and logistics infrastructure at our
Keyes plant. By producing low carbon intensity cellulosic fuel ethanol, we expect
to capture higher value D3 cellulosic renewable identification numbers and California’s
Low Carbon Fuel Standard (LCFS) carbon credits.
We also own and operate a biodiesel production facility in Kakinada, India (the
Kakinada plant) with a nameplate capacity of 150,000 metric tons per year, which
is equal to about 50 million gallons per year. We believe this facility is one
of the largest biodiesel production facilities in India on a nameplate capacity
basis. Our objective is to continue to capitalize on the substantial growth
potential of the industry in India and address established markets in the European
Union and United States of America.
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