Provista becomes CHS Renewable Fuels Marketing

By Bryan Sims | January 12, 2009
Web exclusive posted Jan. 22, 2009, at 1:19 p.m. CST

Effective Feb. 1, Provista Renewable Fuels Marketing LLC will change its name to CHS Renewable Fuels Marketing and become a division of CHS Inc. (Cenex Harvest States).

"The name of our renewable fuels business is changing, but our commitment to delivering outstanding service and innovative solutions will not change," said John Litterio, director of CHS Renewable Fuels Marketing. "We will continue to connect biofuels producers and blenders quickly and efficiently."

In April 2008, CHS, one of the largest grain, food and energy companies in the U.S., acquired a 50 percent stake in Provista, which was previously owned by U.S. BioEnergy Corp. CHS acquired Provista two days after the merger agreement between South Dakota-based VeraSun Energy Corp. and U.S. BioEnergy closed on March 31, 2008.

Provista currently markets approximately 380 million gallons of ethanol, while additional gallons are under discussion through the company's development initiative, according to its Web site. Provista has been marketing ethanol on a wholesale level for approximately five years

"Becoming a division of CHS provides Provista's ethanol plant customers and ethanol buyers with even greater financial strength and stability," Litterio said. "Our successful business model, combined with an even stronger financial platform and sustainability, will allow us to provide long-term reliability and maximum flexibility to ethanol producers and buyers."

In January, Provista entered into an agreement with Canton, Ill.-based ethanol producer Riverland Biofuels LLC to exclusively market its ethanol. In addition to Provista providing marketing, logistic and transaction services, CHS will supply Riverland Biofuels with grain origination and distillers grain marketing services.

In April 2008, Provista signed a letter of intent to partner with Trans Load Ltd. Inc. and Blendstar LLC to construct and operate an ethanol terminal in Birmingham, Ala.