MAUMEE, Ohio – The Andersons, Inc., recently announced plans to purchase Harvestone Low Carbon Partners in Underwood, N.D., from Energy Capital Partners in Summit, N.J., in a $915 million ethanol deal, according to The Andersons officials.

In a Nov. 11 joint statement to Farm World, the Maumee, Ohio-based company said it has been evaluating ethanol plant acquisitions for several years, adding that the deal includes Harvestone’s other Midwest facilities, “who have strong established customer relationships.”

The Andersons officials said three corn ethanol plants – Blue Flint Ethanol in Underwood, N.D., Dakota Spirit AgEnergy in Spiritwood, N.D., and Iroquois Bio-Energy Co., in Rensselaer, Ind., – put The Andersons’ ethanol capacity at about 730 million gallons a year.

According to Harvestone Low Carbon Partners, Dakota Spirit has capacity to produce up to 85 million gallons of ethanol a year; Blue Flint about 77 million gallons of ethanol a year; and the Indiana plant up to 60 million gallons a year.

The Andersons officials said the network processes about 72 million bushels of corn a year, and produces about 490,000 tons of distillers grains (DDGS), and 9.6 million gallons of corn oil. Both North Dakota plants run on steam from neighboring power stations rather than burning fuel on site.

The North Dakota plants extend its presence in the Western Corn Belt, while the Indiana plant complements its Eastern Corn Belt operations, The Andersons officials said, adding that its grain origination, merchandising and logistics business is a fit for Harvestone Low Carbon Partners’ feedstock procurement and for marketing ethanol, DDGS, and distillers corn oil. It also plans to bring its regenerative agriculture programs to the plants.

In addition, the plants add about 215 million gallons of annual ethanol production, expanding The Andersons’ Renewables platform by more than 40 percent, said Bill Krueger, The Andersons president and CEO.

“Its production economics, established low-carbon ethanol capabilities, and strategically advantaged locations complement our existing network, and together, represent a combination that is difficult to replicate,” he added. “We believe this acquisition strengthens our renewables business, and creates a differentiated platform for profitable growth and attractive long-term returns for our shareholders.”

Jeff Zueger, Harvestone Low Carbon Partners CEO, said, “We believe The Andersons is the right home for Harvestone Low Carbon Partners. Our organizations share a strong commitment to our employees, our communities and the customers we serve, and we see a strong cultural fit between our teams. We’re excited about what we can accomplish together.”

The Andersons’ officials said it expects the transaction to close in the fourth quarter of 2026 or early in the first quarter of 2027, subject to required regulatory approvals and other customary closing conditions.