Green Plains has announced a partnership with the Riverence Group to expand aquafeed production in Idaho, USA. The venture will produce trout and salmon feeds for the Riverence Group, utilizing wholesome, sustainable ingredients. This includes the 60%+ fermented protein product, announced after the success of the development trial at Green Plains Wood River.
Firstly, Green Plains contributed capital and supplied key ingredient services. Secondly, the Riverence Group contributed existing assets and a feed offtake agreement. Thereby, it supports its production, helping to meet the rapidly growing consumer demand for aquaculture in North America.
"We are eager to realize the value this collaboration brings to both partners. Using our low-carbon ingredients in Riverence's feeds can help them achieve their goal of using sustainable, domestically produced plant-based ingredients," said Todd Becker, President and Chief Executive Officer of Green Plains.
Besides, Rob Young, President and Chief Executive Officer of the Riverence Group added: "In Green Plains, we have found a partner that is committed to growing domestic aquaculture. Also, stocking the industry's 'pantry' with quality ingredients."
Finally, Leslie van der Meulen, Executive Vice President, Product Marketing and Innovation of Green Plains concluded: "This unique partnership will allow for end-to-end innovation. Bringing ingredient production and fish farming together to create better feeds and better fish."
