Harvestone Low Carbon Partners

The company owns and operates three corn-based dry-mill ethanol biorefineries with a combined annual capacity of nearly 220 million gallons of ethanol. These include the Blue Flint facility near Underwood, North Dakota (operational since 2007, capacity over 76 million gallons), the Dakota Spirit facility near Spiritwood, North Dakota (since 2015, over 85 million gallons), and the Iroquois Bio-Energy Company (IBEC) plant in Rensselaer, Indiana (since 2007, over 60 million gallons). In addition to ethanol, the plants produce distillers grains for livestock feed and corn oil, while purchasing corn from local farmers to support regional agriculture.

HLCP was formed in 2022 as a partnership between Harvestone Group and Energy Capital Partners (ECP), a private equity firm focused on energy transition. It acquired the ethanol assets previously held by Midwest AgEnergy and IBEC. Headquartered in Underwood, North Dakota, the company employs over 140 people primarily in rural communities across North Dakota and Indiana.

Beyond fuel production, HLCP is implementing vertically integrated CCS projects. The Blue Flint facility commenced operations in October 2023, capturing and sequestering more than 200,000 metric tons of biogenic CO2 annually into the Broom Creek formation. Similar CCS developments are advancing at the Dakota Spirit and IBEC sites. HLCP positions itself as a leader in the U.S. low-carbon fuels sector, aiming for net-zero carbon intensity fuels through its Vision Carbon Zero initiative while contributing to American energy independence.