MASON CITY – Golden Grain Energy announced plans Thursday for a partnership with an out-of-state company for a 10 megawatt power plant in Mason City.
According to the announcement, which came via social media, Golden Grain said that “over the past several months,” it “has been working with Golden Renewable Energy, LLC (GRE) to develop a 10 megawatt combined heat and power (CHP) project to be co-located on leased land at the ethanol plant.”
Golden Renewable Energy (GRE) is a privately held company headquartered in New York, founded in 2010, with about 25 employees, its website says. According to its company profile, “GRE has designed, built, tested and is producing fuel at a commercial rate from its Renewable Fuel Production (“RFP”) unit. GRE is taking waste products that municipalities pay to have removed – and converting that waste into EPA certified fuel products such as diesel (ASTM D975), home heating oil (ASTM D396), or electricity. The process from the machine mimics the natural geological processes involved in the production of fossil fuels.”
GRE made no announcement of the partnership on its website, and did not appear to have a social media presence.
Golden Grain said that is has plans for “a CHP plant that will produce electricity for the grid and process steam for the ethanol plant, using natural gas as its fuel source. The project has been awarded a state tax credit worth $13.14 million over ten years.”
Golden Grain said that the partnership would benefit both companies, as both stand to gain from the power plant.
“In addition to its own independent profits,” Golden Grain explained, “GRE should assist Golden Grain by providing steam to increase production capacity, lowering the ethanol plant’s carbon footprint and reducing energy costs.”
Golden Grain announced at the same time that in addition to the proposed power plant, it is seeking ISO 14001 registration, a standard that “was developed primarily to assist companies with a framework for better management control that can result in reducing their environmental impacts.
“Adoption of ISO14001 provides GGEwith a competitive advantage against companies that do not adopt the standard and gives us a better relationship with the regulatory community. This in turn may have a positive impact on a company’s asset value. It may lead to improved public perceptions of the business, placing them in a better position to operate in the international marketplace. The use of ISO 14001 can demonstrate an innovative and forward thinking approach to customers and prospective employees. It can increase a business’s access to new customers and business partners. In some markets it can potentially reduce public liability insurance costs.”
There was no immediate information on what, if any, actions from local officials would be needed in order for the project to move forward.
