Pine Lake, Murex extend ethanol marketing agreement

By Murex LLC | February 04, 2014

Pine Lake Corn Processors LLC has extended its ethanol marketing agreement with Murex LLC.  Pine Lake originally hired Murex as its ethanol marketer in May 2012. Per the agreement, Murex will purchase 100 percent of Pine Lake's production and move it to market. Together, Murex and Pine Lake have opened the plant to export opportunities that have allowed higher returns on its ethanol.

According to James Broghammer, CEO of Pine Lake, "Murex has played a very important role in PLCP's financial success over the past two years."

"Murex is privileged to represent Pine Lake in the marketplace.  We look forward to the continued success this partnership with Pine Lake has afforded both parties in the past," said Robert C. Wright, president of Murex, on the marketing agreement.   

Murex, headquartered in Addison, Texas, markets and distributes domestic ethanol, export ethanol, renewable identification numbers (RINs), crude oil and gasoline blendstocks to major oil companies and regional refineries. Murex is the nation's leading ethanol exporter, with an export terminal position that is unmatched in the industry. With over 20 million gallons of dedicated coastal storage capacity, Murex allows U.S. producers access to South America, Europe, Africa, the Middle East and the Far East.

Pine Lake Corn Processors LLC operates a 30 MMgy ethanol plant in Steamboat Rock, Iowa.