Summit Ag begins construction of wheat protein factory
ALDEN, IOWA – Summit Ag Investors and its holding company Summit Sustainable Ingredients announced on December 6 that they have started construction of a wheat protein (vital wheat gluten) ingredients plant adjacent to Prairie Horizon Agri- Energy. Summit acquired Phillipsburg, Kansas-based Prairie Horizon earlier this year. At the time, Summit announced plans to invest $ 200 million in the development of the ingredients factory.
Summit said the project is fully funded by capital commitments from private equity funds. ICM, Inc. and Todd & Sargent, Inc. were recruited as designer-builders.
Once the facility is operational in the summer of 2023, it will be the largest producer of wheat protein in North America, with approximately double the production capacity of any comparable plant in existence in North America, according to Summit. .
âWe are delighted to announce this important milestone,â said Bruce Rastetter, Managing Director of Summit Agricultural Group, the parent company of Summit Ag Investors and the project. âWith the current demand for high protein ingredients at an all time high, we are committed to meeting this challenge. As we engage with clients, it is clear that our project has a major need. “
When building the plant, Summit said it plans to use the latest technology available from best-in-class partners in milling, wheat protein production and renewable fuels.
âIn our assessment of this investment, it was clear that customers needed a national source of high-quality, performing ingredients,â said Justin Kirchhoff, president of Summit Ag Investors. âSummit is well positioned to meet this need for affordable, safe, and non-GMO protein-rich ingredients in the foods most Americans eat every day. “
Summit said it will use the residual starch generated from the production of ingredients and ferment the starch into low carbon biofuel as a co-product, resulting in a significantly lower carbon intensity fuel than traditional renewable fuels.
âThis project is representative of Summit’s commitment to the continued evolution of renewable fuels, food and agriculture,â said Dave Vander Griend, CEO of ICM, Inc. âAs a leader of the renewable fuels industry, ICM is motivated to be a key partner. In this project. “
Jon Sargent, President of Todd & Sargent, added, âThe grinding component of this project alone is important given that the flour mill has a design capacity of 30,000 quintals, not to mention other aspects of the pioneering project. from Summit. As a designer-builder specializing in milling and sliding formwork construction, we are very pleased to have been selected as a strategic partner.
In addition to the grand opening, Summit appointed Steve Adams as COO and Steve Snyder as CFO.