Air Products Increases U.S. Midwest Liquid CO2 Supply with Big River Resources Deal
LEHIGH VALLEY, Pa., Jan. 6, 2014 /PRNewswire/ — Air Products (NYSE: APD), one of the leading suppliers of liquid carbon dioxide (CO(2)) in the United States, today announced the signing of a long-term agreement for the production of liquid CO(2) with Big River Resources Boyceville, LLC; based out of Boyceville, Wisconsin. Air Products will operate a facility to produce 250 tons per day (tpd) of liquid CO(2) at Big River Resources’ established ethanol plant in Boyceville, Wisconsin. Air Products will market food and beverage-grade liquid CO(2) from the plant, which is expected to begin production in early 2014.
“This Boyceville project with Big River strengthens our position in the Upper Midwest with both existing and new customers,” said Joe Lamack, CO(2) general manager – North America Merchant Gases at Air Products. “We are excited to be working with a company like Big River that understands supply reliability to industrial customers.”
“This is our first foray into working with a CO(2) company at any of our ethanol plants and we are very happy to begin this collaboration with Air Products,” said Jim Leiting, chief operating officer at Big River Resources, LLC.
Air Products has 13 liquid CO(2) production plants in the U.S., and had recently announced another planned liquid CO2 agreement and facility with 400 tpd of production in Iowa. In June, Air Products expanded its portfolio of industrial gases offerings in North America by acquiring EPCO Carbon Dioxide Products, Inc. of Monroe, Louisiana. The acquisition immediately vaulted Air Products to a position amongst the leaders in the North American liquid CO(2 )market and also made Air Products a more fully-integrated supplier of bulk industrial gases by increasing its competitive offering.
Liquid CO(2), which Air Products already offers in its other geographic regions around the world, is an important product in markets Air Products currently serves with other merchant industrial gases including for food, beverage, chemical, pharmaceutical, oilfield services, and metals fabrication applications.
About Air Products
Air Products (NYSE:APD) provides atmospheric, process and specialty gases; performance materials; equipment; and technology. For over 70 years, the company has enabled customers to become more productive, energy efficient and sustainable. Recognized as one of the world’s most innovative companies by both Thomson Reuters and Forbes magazine, more than 21,000 employees in over 50 countries supply effective solutions to the energy, environment and emerging markets. These include semiconductor materials, refinery hydrogen, coal gasification, natural gas liquefaction, and advanced coatings and adhesives. In fiscal 2013, Air Products had sales of $10.2 billion. For more information, visit www.airproducts.com.
About Big River Resources, LLC (BRR)
BRR based out of West Burlington, Iowa, was formed as a cooperative and grew into a holding company structure. The initial start of the cooperative began in July 1992 with fuel and feed production objectives. BRR currently has subsidiary companies which include Big River Resources West Burlington, LLC; Big River Resources Galva, LLC; Big River Resources Boyceville, LLC, Big River United Energy, LLC, Big River Resources Grinnell, LLC and Big River Prairie Gold, LLC. Included under Big River Resources West Burlington, LLC are 10.6 million bushel capacity grain elevator locations in Monmouth and Edgington, Ill. The ethanol facilities collectively have production capacity of 400 million ethanol gallons per year. Big River Prairie Gold, LLC is a zein production facility that is scheduled to begin production late 2014. The company has a 21-member board and employs 238 team members full time throughout all facilities. Change is inevitable and growth is optional. BRR continues to fully evaluate growth as an option. Goals include providing rural community employment, increasing value of rural products, and adding value to investor returns. In doing so, BRR adds to the energy independence of the nation, improves food infrastructure, and decreases our dependence on foreign oil.
NOTE: This release may contain forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s reasonable expectations and assumptions as of the date of this release regarding important risk factors. Actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors not anticipated by management, including risk factors described in the Company’s Form 10K for its fiscal year ended September 30, 2013.
SOURCE Air Products