Ethanol Production to Begin in Early November
ROSHOLT, S.D. – Tenaska BioFuels, LLC (TBF) and Tri-State Financial, LLC have entered into a two-year tolling arrangement which will allow ethanol production to resume at Tri-State’s North Country Ethanol facility in Rosholt.
Under the agreement, TBF will purchase corn and natural gas, which Tri-State will use to produce ethanol and distillers grains. TBF will own all materials processed at the 26-million-gallon facility and will market the plant’s ethanol to local and national markets. Wet or dried distillers grains also will be marketed to local, national and export markets.
North Country Ethanol opened in 2005 and operated until 2008, when economic conditions caused it to close and enter bankruptcy proceedings. The new agreement with TBF is expected to allow the plant to restart production during the first week of November 2009.
Upon resuming production, North Country Ethanol will employ approximately 28 employees.
“These new jobs, along with the purchases of corn and other materials for ethanol production from local farmers and vendors, will provide a significant boost to the local economy,” said Glenn Petersen, North Country Ethanol local operations manager who, along with Innovated Concepts of Ethanol, Inc., will be managing plant operations. “We believe our business will benefit greatly from Tenaska BioFuels’ agri-marketing and risk management expertise.”
Tenaska BioFuels provides procurement and marketing, supply chain management and financial services to customers in the agriculture and energy markets. It is an affiliate of Tenaska, one of the nation’s largest independent energy companies. The agreement with Tri-State is TBF’s second tolling arrangement with a biofuels processing plant. The company recently entered a similar partnership with Prairie Pride, Inc., a soybean processor in Missouri.
“Tolling arrangements are a time-tested energy industry model that we are successfully applying to agricultural processes. We are excited to work with the Tri-State team to restart the North Country Ethanol plant,” said Dave Neubauer, TBF vice president and general manager.
About Tri-State Financial, LLC and North Country Ethanol
Tri-State Financial, LLC, conducting business as North Country Ethanol, owns and operates a 26-million-gallon ethanol and distillers grains production facility in Rosholt, S.D.
About Tenaska BioFuels, LLC
Tenaska BioFuels, LLC (TBF) is the biofuels marketing affiliate of Omaha, Nebraska-based energy company Tenaska, one of the leading independent power producers in the U.S. Forbes and Fortune magazines rank Tenaska 24th and 25th, respectively, among the largest privately-held U.S. companies. TBF provides independent procurement, marketing, supply chain management, storage, and risk management to ethanol and biodiesel market participants. To learn more about Tenaska, visit the company’s Web site at www.tenaska.com.