The two new plants will increase the US bioethanol production capacity to 500 million gallons.
The US bioethanol industry is the largest in the world and it realizes 44% of the global bioethanol production. However, petrol consumption in the US is currently declining and this has an impact on the industry. However, this does not stop the construction of new capacities because the low price of corn is a factor in generating profit.
Ringneck Energy will build a bioethanol plant in South Dakota with an annual capacity of 80 million gallons and Elite Octane builts one in Iowa with an annual capacity of 150 million gallons.
The last biodiesel plant was opened two years ago in North Dakota. So the enterprises in the branch are over 200. The combined power of all biodiesel plants in the US is 16.1 billion gallons, as it is expected for the production to reach 16.7 - 16.8 billion gallons in the late 2017.