ADM and Marathon inaugurate a soybean processing plant

ADM and Marathon Petroleum Corp. executives, along with local, state and federal policymakers, today celebrated the grand opening of the first dedicated soybean processing facility in North Dakota. By the 2023 crop, the plant – owned by the previously announced ADM-MPC joint venture Green Bison Soy Processing – is expected to produce approximately 600 million pounds of refined vegetable oil per year, which will be supplied exclusively to MPC as feedstock for renewable diesel.

“The need for low-carbon and more sustainable products is one of the fundamental trends underlying ADM’s strategy and purpose, and we are proud to continue to strengthen our leadership in this critical area” , said Ken Campbell, president of ADM for North America. Renewable oils, biodiesel and chemicals. “Renewable diesel is a potentially transformative opportunity for the oilseed industry, for farmers and for the sustainability of our transportation system. We are excited to celebrate our bright future and look forward to working with MPC and North Dakota growers as we bring this state-of-the-art plant online in less than a year and a half.

“The Green Bison soybean processing plant represents another step in MPC’s commitment to investing in a sustainable, energy-rich future,” said Dave Heppner, senior vice president of strategy and business development at MPC. . “The Green Bison Soy Processing facility will help us further optimize our supply of renewable raw materials, and we are excited about the opportunity to partner with ADM and the State of North Dakota as we move forward with the development of this facility.

When completed, the approximately $350 million complex will feature state-of-the-art automation technology and is expected to have the capacity to process 150,000 bushels of soybeans per day. Vegetable oil from the plant will be supplied exclusively to MPC to serve as feedstock for the production of a target of 75 million gallons of renewable diesel per year.

Construction of the new complex supports hundreds of jobs in the region, and the facility is expected to employ approximately 75 people once operational.

“The new Green Bison soybean processing plant brings together several important and necessary elements for success,” said Dwaine Heinrich, Mayor of Jamestown, North Dakota. “This merger of two of the most important components of North Dakota’s economy – agriculture and energy – is made possible by a willingness to work together to achieve goals that will ultimately benefit the city of Jamestown, Stutsman County and all of North Dakota Our thanks and congratulations to ADM and MPC for working together to make this day possible.

“As one of the top 10 soybean producing states, the ADM-MPC joint venture is a game changer that will bring lasting benefits to North Dakota soybean farmers,” said North Dakota Governor Doug Burgum. “Green Bison will add value and expand the market for one of our farmers’ most important crops, while creating 75 direct jobs and diversifying our economy to support our communities, citizens and the entire state. It is also a shining example of the growing synergy between our agriculture and energy sectors in North Dakota. We appreciate ADM and MPC for this significant investment in our state and their well-placed trust in our highly productive and innovative farmers, and are grateful for the efforts of Lt. Governor Sanford and so many other state, federal and local partners. who helped make this happen.

Some of the above statements constitute forward-looking statements. The filings by ADM and MPC respectively with the SEC provide detailed information about these statements and risks and should be consulted with this press release. To the extent permitted by applicable law, neither ADM nor MPC undertakes any obligation to update any forward-looking statements.

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