CF Industries Holdings, Inc. (NYSE: CF), a leading global
manufacturer of hydrogen and nitrogen products and the world’s
largest producer of ammonia, and POET LLC, the world’s largest
producer of biofuel and a global leader in sustainable bioproducts,
today announced a collaboration to pilot the use of low-carbon
ammonia fertilizer to reduce the carbon intensity of corn
production and ethanol. Demand for ethanol with a lower carbon
intensity is expected to increase significantly to meet low-carbon
fuel standards.
Ammonia is commonly used as a direct application fertilizer for
U.S. corn production, but the conventional ammonia production
process is emissions intensive. As a result, ammonia production is
a significant contributor to the lifecycle carbon intensity of corn
production and thus ethanol production. Producing ethanol with corn
grown using low-carbon ammonia can reduce the carbon intensity of
ethanol up to 10 percent. The companies are targeting the fall of
2024 for the first applications of low-carbon ammonia with
subsequent applications in spring of 2025, to produce a first crop
to be harvested in the fall of 2025.
“We are pleased to collaborate with POET on this important step
forward in developing a low-carbon ethanol value chain that links
low-carbon fertilizers to farmers to ethanol production,” said Bert
Frost, executive vice president, sales, supply chain and market
development, CF Industries. “Fertilizers manufactured with a lower
carbon intensity provide a quantifiable and certifiable method of
decarbonizing bioethanol inputs. We look forward to demonstrating
these benefits not just for ethanol production but for corn growers
as well.”
“At POET, we have always striven to bring new value to our
producers and our partnership with CF Industries continues this
mission,” said Christian McIlvain, President of POET Grain. “We
want to prepare and educate our corn producers on the realities of
the impact of the carbon in their grain. This initiative not only
gives producers a low-carbon ammonia option but also provides the
opportunity to educate them on their farm’s carbon score and what
that could mean for their grain value.”
The companies intend to jointly develop a low-carbon fertilizer
supply chain to track, validate and certify carbon intensity
reduction originating from low-carbon ammonia manufacturing at CF
Industries’ Donaldsonville Complex in Louisiana, through ethanol
production at POET’s locations in Bingham Lake, MN, Emmetsburg, IA,
Fairmont, NE and North Manchester, IN. This includes implementing
supply plans with fertilizer retailers serving farms that supply
corn to these POET bioprocessing plants and developing monetization
opportunities for farmers who use this low-carbon fertilizer.
Producers can reach out to their local POET grain merchandiser for
more information.
For the demonstration project’s fall 2024 and spring 2025
low-carbon ammonia applications, the companies will leverage green
ammonia produced at CF Industries’ Donaldsonville Complex. Green
ammonia refers to ammonia produced with hydrogen sourced from an
electrolysis-based production process that produces no carbon
dioxide emissions but is otherwise identical to commodity ammonia.
CF Industries recently completed installation of a 20MW
electrolyzer at its Donaldsonville Complex. Start-up of the
electrolyzer is imminent and the Company intends to purchase
renewable energy certificates to pair with the start-up to enable
green ammonia production. CF Industries will have additional
low-carbon ammonia at the Donaldsonville Complex beginning in 2025
when a large-scale carbon capture and sequestration project at the
facility commences.
About CF Industries Holdings,
Inc.
At CF Industries, our mission is to provide clean energy to feed
and fuel the world sustainably. With our employees focused on safe
and reliable operations, environmental stewardship, and disciplined
capital and corporate management, we are on a path to decarbonize
our ammonia production network – the world’s largest – to enable
green and low-carbon hydrogen and nitrogen products for energy,
fertilizer, emissions abatement and other industrial activities.
Our manufacturing complexes in the United States, Canada, and the
United Kingdom, an unparalleled storage, transportation and
distribution network in North America, and logistics capabilities
enabling a global reach underpin our strategy to leverage our
unique capabilities to accelerate the world’s transition to clean
energy. CF Industries routinely posts investor announcements and
additional information on the Company’s website at
www.cfindustries.com and encourages those interested in the Company
to check there frequently.
About POET
POET’s vision is to create a world in sync with nature. As the
world’s largest producer of biofuel and a global leader in
sustainable bioproducts, POET creates plant-based alternatives to
fossil fuels that unleash the regenerative power of agriculture and
cultivate opportunities for America’s farm families. Founded in
1987 and headquartered in Sioux Falls, POET operates 34
bioprocessing facilities across eight states and employs more than
2,400 team members. With a suite of bioproducts that includes
high-quality animal feed, corn oil, green asphalt rejuvenator,
purified alcohol, and renewable CO2, POET nurtures an unceasing
commitment to innovation and advances powerful, practical solutions
to some of the world’s most pressing challenges. Today, POET holds
more than 100 patents worldwide and continues to break new ground
in biotechnology, yielding lower-carbon, more efficient renewable
energy and bioproducts.
Cautionary Statement
All statements in this communication by CF Industries Holdings,
Inc. (together with its subsidiaries, the “Company”), other than
those relating to historical facts, are forward-looking statements.
Forward-looking statements can generally be identified by their use
of terms such as “anticipate,” “believe,” “could,” “estimate,”
“expect,” “intend,” “may,” “plan,” “predict,” “project,” “will” or
“would” and similar terms and phrases, including references to
assumptions. Forward-looking statements are not guarantees of
future performance and are subject to a number of assumptions,
risks and uncertainties, many of which are beyond the Company’s
control, which could cause actual results to differ materially from
such statements. These statements may include, but are not limited
to, statements about strategic plans and management’s expectations
with respect to the production of low-carbon fertilizer, the
development and implementation of the low-carbon supply chain with
POET in a timely or economic manner, the development of carbon
capture and sequestration projects, greenhouse gas reduction
targets, projected capital expenditures, statements about future
financial and operating results, and other items described in this
communication.
More detailed information about factors that may affect the
Company’s performance and could cause actual results to differ
materially from those in any forward-looking statements may be
found in CF Industries Holdings, Inc.’s filings with the Securities
and Exchange Commission, including CF Industries Holdings, Inc.’s
most recent annual and quarterly reports on Form 10-K and Form
10-Q, which are available in the Investor Relations section of the
Company’s web site. It is not possible to predict or identify all
risks and uncertainties that might affect the accuracy of our
forward-looking statements and, consequently, our descriptions of
such risks and uncertainties should not be considered exhaustive.
There is no guarantee that any of the events, plans or goals
anticipated by these forward-looking statements will occur, and if
any of the events do occur, there is no guarantee what effect they
will have on our business, results of operations, cash flows,
financial condition and future prospects. Forward-looking
statements are given only as of the date of this communication and
the Company disclaims any obligation to update or revise the
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240715373596/en/
Media Chris Close Senior Director, Corporate
Communications 847-405-2542 – cclose@cfindustries.com
Investors Darla Rivera Director, Investor Relations
847-405-2045 – darla.rivera@cfindustries.com
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