New Soybean-Crushing Plant Being Built in BV County
August 30, 2021 7:33pm
A new soybean-crushing plant is expected to be built near Alta.
The 350-million dollar project will be the second modern soybean processing facility in Iowa. The new facility will be run by Platinum Crush LLC. Groundbreaking is slated for late this year.
“Platinum Crush is positioned to extract all the value possible from locally-grown soybeans,” said Mike Kinley, one of Platinum Crush developers, and the managing member of Ag Development Group LLC, which develops value-added projects for the ag sector. “This plant can supply both food and fuel needs. It will also bring Buena Vista County and the surrounding area into the center of the global food and fuel economy.”
The plant will become operational around March of 2024, and will crush 38.5 million soybean bushels annually, or 110-thousand bushels daily. The facility near Alta is expected to create 50 to 60 jobs, and will be serviced by the CN Railway.
“Not only will Platinum Crush create many high-quality jobs, but it allows northwest Iowa to build on its strong agricultural heritage,” said Bowdish, the other developing partner behind Platinum Crush, and a leader in the development and management of Midwest ethanol plants, including Elite Octane in Atlantic, Iowa, and Siouxland Ethanol in Jackson, Nebraska. “This plant will expand farm income and help diversify the economy, which can benefit everyone in the region. The benefits stem from many different people all doing their part.”
“CN is pleased to see the next world-class soybean crush plant select our network to move value-added agricultural products to consumers all around the globe,” said James Cairns, senior vice president, rail centric supply chain, for CN Railway. ”We are excited about the opportunity to make this facility a reality in northwest Iowa.”
The Platinum Crush facility will produce 847-thousand tons of soybean meals per year for livestock feed markets, as well as 450-million pounds of crude soybean oil per year, and 77-thousand tons of pelleted soybean hulls per year.
“This soybean crush plant is a farmer’s dream,” said David Mentzer, who farms in the Alta area. “Our closest plant is more than an hour away, and it’s notorious for having 3- to 4-hour waits. Platinum Crush will increase demand for soybeans in our area. More profit potential means farmers will likely add more soybeans to their crop rotation.”
Platinum Crush will produce soy oil that can be used for a variety of applications, including livestock feed, the human food industry, and the renewable biodiesel bioenergy segment.
The Iowa Lakes Corridor Development Corporation, which services BV County, says the economic impact of Platinum Crush can’t be overstated.
“This is an exciting project for Buena Vista County, the Iowa Lakes Corridor region and the state of Iowa,” said Shannon Landauer, president and CEO of the ILCDC, which provides economic development services to northwest Iowa counties in the region to prepare for projects like this. “Bringing quality jobs to the area, while expanding market opportunities for local producers, is a perfect example of an economic development project in Iowa that has global reach. We’re excited to see this project become a reality.”
The project is pending state and local approvals.
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