Plans for a new $400 million dollar soybean crush plant at Grand Forks, North Dakota have been released.
Epitome Energy LLC says the new facility should process upwards of 42 million bushels of soybeans per year and is projected to strengthen the basis for soybeans by 20-25 cents per bushel.
The plant is expected to produce more than 940,000 tons of soybean meal per year, 60 million gallons of crude degummed soybean oil and 84,000 tons of soybean hulls.
Founder and CEO Dennis Egan says this project will put more money in the pockets of hardworking farmers in the Red River Valley region by helping them reach more markets to meet the growing demand for soybeans.
Epitome's plant will be located about 120 kilometers south of Emerson, Manitoba
The company eyeing a potential market in the Canadian hog industry, with soybean meal considered a suitable source of protein for hogs.
The project is expected to break ground in the summer of 2023, with operations anticipated to begin in the fall of 2025.