The Andersons buys Harvestone Low Carbon Partners for $915M, expanding ethanol and low-carbon fuel capacity

The Andersons agreed to buy Harvestone Low Carbon Partners from Energy Capital Partners for $915 million. Harvestone owns and operates three ethanol plants in North Dakota and Indiana, and the deal gives The Andersons a larger position in ethanol production and the cash flow that comes with it. The seller says the business generates substantial cash flow, though the article does not specify plant capacity or EBITDA. The 'Low Carbon' in the name points to the bigger story. Ethanol producers in the Dakotas are tying into carbon capture and low-carbon fuel markets, where lower carbon intensity can mean higher value under programs like the federal RFS and state low-carbon fuel standards. The real question is whether these plants have capture agreements or verified carbon intensity numbers, and the article does not say. Watch for details on CCS partnerships and offtake contracts in the merger filing.