ADM Enters the Biodiesel Market
Archer-Daniels-Midland Co. (ADM) has announced plans to build a 50 million gallon Biodiesel production facility in North Dakota. This will be ADM's first wholly-owned venture into biodiesel in the US. Currently the US consumes about 30 million gallons of Biodiesel a year. This is a significant investment by ADM in the US marketplace.
"ADM is a world leader in renewable fuels," stated Mike Livergood, ADM Vice President-Global Oleo Chemicals. "Leveraging the success of ADM's experience in the biodiesel market in Europe and ADM's success in the ethanol market in the U.S., we are pleased to bring biodiesel, a cleaner burning and renewable fuel, to the U.S. market through this facility." [ more ]
This press release quickly follows an release announcing the plans to build a third Biodiesel production facility in Germany. ADM is the largest biodiesel producer in Germany and one of the leading producers in Europe.