Tomorrow Epitome Energy is announcing the start of the permit process for the Soy Innovation Campus in Crookston, Minnesota. Epitome Energy CEO and President Dennis Egan says this gets them one step closer to the building of a $150 million soybean crush and biodiesel facility.
Earlier this week Epitome Energy received a $250,000 loan from the City of Crookston for the crush and biodiesel plants. The Minnesota legislature approved $5 million for the Soy Innovation Campus this session.
Egan says once operational, the plant could increase the value of soybeans in northwest Minnesota by an estimated 20 cents per bushel. Currently there is no value-added processing in the area for soybeans resulting in a wide basis.
Egan says their study shows the facility could generate nearly $323 million in new economic activity in northwest Minnesota.
Egan says they plan for the plant to be operational by the fall of 2021.
