Irish agribusiness ClonBio Group is to invest $500 million (€457 million) in a US biorefinery which is expected to create 1,000 jobs.
The family-owned company is the largest biogas/renewable natural gas market player in four countries in Europe.
It also operates the world’s most technologically advanced grain biorefinery in Hungary, which focuses on plant and single-celled alternative proteins.
ClonBio biorefineries use natural processes to refine locally produced grain for use in wide range of applications including proteins and fibres for human and animal nutrition, ethanol for a range of fuel and industrial uses and organic fertiliser for farming.
ClonBio
ClonBio has now announced a “dramatic increase” in its investment in a “formerly moth-balled biorefinery” in Jefferson, Wisconsin which it acquired in 2022.
Over the last 18 months, the company has invested $100m in the acquisition and upgrading of Aztalan Bio, which is now the largest grain processing facility in Wisconsin.
Due to incentives contained in the Inflation Reduction Act, ClonBio is now planning to “rapidly accelerate” an additional $400m investment programme over the coming years, rather than over the course of the decade as had been planned.
The company said that the cumulative investment will “support grain farmer incomes and the state economy for decades to come”.
Jeff Oestmann, chief executive of Aztalan Bio said that the investment will involve “state-of-the-art science to underpin farming practices and farm incomes, whilst tackling emissions and climate change head on”.
“It will drive the most efficient use of grain in the history of the United States.
“Every part of the corn kernel is going to be used efficiently to make starch based, fiber based, protein based and fat based foods, feeds, and fuels, thereby promoting the circular economy and maximizing food security,” he said.
Bioeconomy
The announcement was made during Enterprise Ireland’s programme of business events in the US for St. Patrick’s Day, led by Taoiseach Leo Varadkar and Enterprise Ireland chief executive, Leo Clancy.
Taoiseach Leo Varadkar said that he is “very proud” that an Irish company is spearheading this planned investment for a green, sustainable bioeconomy and good jobs.
“We see it is as a model for further Irish-US collaboration with many of the innovations in the Wisconsin plant originating from US companies and inventors, and enabled by Ireland’s world class expertise in agri-food engineering.
“Ireland is a very open economy, with huge exports relative to our size. We have some extraordinary Irish companies who are the best at what they do globally.
“I’m really pleased to see ClonBio Group is part of that success story,” he said.
Leo Clancy, chief executive of Enterprise Ireland, added that Irish companies are scaling internationally at an accelerated pace, making significant investments and acquisitions.
“In the case of ClonBio its investment and R&D internationally also informs its continuing investment in advanced biomethane and recycling and upcycling of waste plastics in Ireland, delivering jobs growth here and boosting Ireland’s economy.
“ClonBio is a market leader in renewable energy and nutrition and their ambitious investment plans for the Wisconsin-based biorefinery will deliver great advancement for a sustainable bioeconomy model,” he said.