ADM has inked an agreement with Marathon Petroleum to form a joint venture, which will own and operate the Spiritwood, North Dakota soybean processing facility. ADM took over the facility earlier this summer. With this deal, ADM will own 75 percent and Marathon Petroleum will own the remaining 25 percent. When complete in 2023, the Spiritwood plant will produce 600 million pounds of refined soybean oil each year. That will offer enough feedstock for 75 million gallons of renewable diesel fuel per year.
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