(Colwich, Kan. – March 21, 2016) – ICM, Inc. is pleased to announce that it has signed a contract with FS AgriSolution Industria de Biocombustiveis Ltda.(FS), and Summit Brazil Renewables I, LLC, (Summit) an affiliate of Summit Agricultural Group, to design a dry-mill corn ethanol plant with a 50 MGY (189,250 cubic meters per year) nameplate production capacity, located near the city of Lucas do Rio Verde, in the state of Mato Grosso, Brazil. Completion of the facility is estimated for mid-2017 with job creation up to 90 employees. This project will enable the region to benefit from the alternative use of corn in these production areas, as well as benefit from producing valuable co-products such as high protein and high fiber feedstocks for swine, poultry and cattle. The ethanol production capacity for FS and Summit will focus primarily on the country’s domestic markets.
ICM President Chris Mitchell said, “We’re thrilled to announce the ground breaking of our latest global expansion project into Brazil, and we look forward to continued collaboration with FS and Summit to support the economic growth of the region by providing our process technologies and services to advance renewable energy.”
In February 2015, the government of Brazil (GOB) raised federal taxes (CIDE and PIS/COFINS) on gasoline to R$ 0.22 /liter, which increased the competiveness of ethanol relative to the fossil fuel. Some Brazilian states also increased the state tax for circulation of goods and services (ICMS) on gasoline and reduced the tax for ethanol, which further stimulated ethanol consumption. In March 2015, the GOB authorized an increase in the ethanol blend for gasoline from 25 to 27.5% percent. Total Brazilian ethanol production for 2016 is projected at 30.68 billion liters, a five percent increase compared to 2015.
“As the process design and technology company that has provided engineering, construction and operational services for 102 ethanol plants in North America, ICM is honored to bring our innovations and tailored services to Brazil, “ stated ICM Project Manager Matt Horsch.
“We value the opportunity to collaborate with FS and Summit, and continue to expand our global business strategy in the Americas and beyond. FS and Summit will promote the use of grains to increase ethanol production capacity in Brazil, and we look forward to sharing our knowledge to support biofuels production and sustainable development in this region,” added ICM International Regional Manager, Latin America, Issam Stouky.
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FOR IMMEDIATE RELEASE
Debbie Harding, ICM, Inc.