Two leaders in renewable energy define the next generation of ethanol plant marketing.
Noble Group and Mansfield Oil Co. have launched a new venture that combines the companies’ existing plant marketing divisions.
The new company, Noble Mansfield Renewable Energy, will be headquartered in Bloomington, Minn., currently the home of Mansfield’s C&N ethanol marketing business.
William (Bill) Covey, who has been leading Noble’s ethanol plant marketing business, has been named CEO, and Jon Bjornstad, founder of C&N Ethanol Marketing, will continue as the new organization’s president.
“Ethanol Producers need a financially secure marketer with large operating scale, direct access to global markets, and a full suite of risk management services. This new organization offers plant partners access to unmatched risk management tools and a scope of services on a global scale,” said Covey. “Noble Mansfield will offer plants a marketing plan which leverages the strengths of Noble’s global reach and Mansfield’s North American distribution system which has deep relationships with refiners and retail blenders. This combination of abilities will allow us to reach the best possible netbacks and crush margins for our plant partners.”
Increasing market volatility in both grains and energy products is driving new service needs for producers. “The traditional plant marketing approach has to evolve in order to continue to add value to producers in new ways,” said Bjornstad. “We’ve continued to develop our RINS management and compliance services, expanded our discounted natural gas supply programs, and extended our automation solutions for plant loading racks to sell product 24/7 without adding labor cost. We have had a strong ethanol export program for several years and are excited about continuing to grow those volumes for our plants and, by working closely with Noble’s global supply chain business, we see opportunities to grow DDGS exports to improve co-product values for our plant partners.”
Noble Mansfield Renewable Energy streamlines operations and opens up market opportunities for its ethanol and biodiesel partners by managing all sales contracts, transportation logistics, invoicing, credit and accounts receivable. Plant partners will benefit from the combined resources and marketing strength of two of the nation’s renewable energy leaders through global reach with a local touch.