Iroquois Bio-Energy

What Iroquois Bio-Energy does

Iroquois Bio-Energy (IBEC) is a private corn ethanol production facility founded in 2002 and headquartered in Rensselaer, Indiana. The company produces and sells a tiered portfolio of ethanol fuel blends—UNL 88 ($3.419 per gallon), E30 ($3.209 per gallon), E50 ($2.259 per gallon), and E85 ($0.799 per gallon)—directly at its facility, supplemented by Dried Distillers Grains (DDG) sold as an animal feed co-product. The pricing differential across fuel grades reflects federal ethanol blending credits and blend economics rather than traditional cost-plus pricing. IBEC operates within the Harvestone Low Carbon Partners network alongside sister ethanol facilities Blue Flint and Dakota Spirit AgEnergy, with carbon capture technology integrated into its production workflow to support carbon sequestration and the network's Vision Carbon Zero initiative.

The company's core technology centers on traditional dry-mill corn ethanol conversion augmented by carbon capture capabilities for low-carbon fuel positioning. IBEC transforms locally-sourced corn into clean-burning ethanol fuel, capturing CO₂ as part of the production process and selling DDG as a secondary revenue stream. Operating geographies are confined to the Midwest United States, with grain receiving scheduled Monday through Friday (7am-3pm CST) and DDG loading Monday through Friday (6am-3pm CST). Effective January 2026, IBEC consolidated check processing to Tuesday each week (Wednesday if holiday), signaling ongoing operational refinement.

Commercially, IBEC sells to two distinct customer bases: agricultural producers supplying corn to the facility and fuel consumers purchasing ethanol blends either for vehicle use or as wholesale/distribution partners. The business operates with 11-50 employees and is privately held under the Harvestone Low Carbon Partners umbrella. No standalone funding rounds, investor composition, or revenue figures are publicly disclosed; IBEC functions as a single operating asset within a broader multi-plant renewable fuels platform rather than as an independent growth-stage enterprise.

Name

Iroquois Bio-Energy

Website

https://ibecethanol.com

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

51–100 employees

Short description

Iroquois Bio-Energy (IBEC) is a privately held corn ethanol production facility in Rensselaer, Indiana that sells UNL 88, E30, E50, and E85 ethanol blends plus Dried Distillers Grains, operating as part of the Harvestone Low Carbon Partners network with integrated carbon capture capabilities.

Ownership category

akta.pro rank

Headquarters

HQ city

Underwood

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Technology or R&D

Revenue model

1. Ethanol Fuel Sales: IBEC produces and sells ethanol fuel products including UNL 88, E30, E50, and E85 blends. Revenue is generated through direct fuel sales at the facility.

Pricing tiers

Distribution channels1 record

Marketing channels1 record

Core offering

Iroquois Bio-Energy (IBEC) is an ethanol production facility located in Rensselaer, Indiana that transforms locally-grown corn into multiple grades of clean-burning ethanol fuel (UNL 88, E30, E50, E85) and produces Dried Distillers Grains (DDG) as an animal feed co-product. The facility operates with integrated carbon capture capabilities for sequestration, positioning it within the low-carbon renewable fuel value chain.

Product overview

IBEC (Iroquois Bio-Energy) operates as part of Harvestone Low Carbon Partners, functioning as a single unified ethanol production facility that transforms locally-grown corn into clean-burning ethanol fuels while simultaneously capturing carbon for sequestration. The company's product portfolio consists of multiple ethanol fuel grades (UNL 88, E 30, E 50, E 85) differentiated by ethanol content and pricing, along with Dried Distillers Grains (DDG) as a valuable animal feed co-product from the ethanol manufacturing process. The operations center on core ethanol production with carbon capture capabilities integrated into the production workflow.

Differentiator

Problem solved

Functional benefit

Products and services

• UNL 88 Ethanol (Regular Unleaded 88) Standard ethanol fuel blend (Regular Unleaded 88) sold at $3.419 per gallon, suitable for standard ethanol blending applications and standard flex-fuel vehicle use.
• E 30 Ethanol Blend Mid-level ethanol blend containing 30% ethanol, priced at $3.209 per gallon.
• E 50 Ethanol Blend High ethanol blend containing 50% ethanol, priced at $2.259 per gallon.
• E 85 Ethanol (Flex Fuel) Flexible fuel blend containing up to 85% ethanol, priced at $0.799 per gallon for optimized renewable fuel applications.
• Dried Distillers Grains (DDG) Animal feed co-product produced as a byproduct of the ethanol manufacturing process, with on-site loading available Monday through Friday from 6 am to 3 pm CST.

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• Harvestone Low Carbon PartnerscoreStrategic or Co-development PartnerIBEC operates as a facility under the Harvestone Low Carbon Partners network, which encompasses multiple ethanol plants including Blue Flint, Dakota Spirit, and IBEC. The partnership provides integrated low-carbon fuel solutions, shared infrastructure, and collective carbon capture initiatives across the network.
• Blue Flint EthanolminorStrategic or Co-development PartnerBlue Flint is a sister ethanol facility under the Harvestone Low Carbon Partners umbrella. Both facilities are engaged in carbon capture operations and contribute to the network's renewable fuel production capacity.
• Dakota Spirit AgEnergyminorStrategic or Co-development PartnerDakota Spirit AgEnergy is another ethanol facility within the Harvestone Low Carbon Partners network, operating alongside IBEC and Blue Flint in the renewable energy ecosystem.

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Archer Daniels Midland (ADM): Global agribusiness giant that operates corn ethanol production as part of its broader Carbohydrate Solutions segment. Comparable in underlying corn-to-ethanol process and DDG co-product, though ethanol is one of many product lines rather than the core focus.
• Cargill: Global agricultural commodity processor with corn-origination capabilities and downstream bioindustrial exposure. Comparable to IBEC on the feedstock side (corn sourcing and merchandising) and as a major player in the broader corn-to-biofuels value chain.
• Valero: Major petroleum refiner that also operates a sizeable corn ethanol production platform (Valero Renewable Fuels). Comparable in finished ethanol fuel products and distribution scale, though ethanol is a strategic extension of its refining business rather than the primary focus.

Others

• ICM Inc. Leading designer and builder of corn ethanol production facilities, including process technology, plant construction, and optimization services. Comparable to IBEC as an ecosystem enabler supplying the technology and engineering behind the corn-to-ethanol process IBEC operates.

Emerging players

• Aemetis: Renewable fuels company focused on low-carbon ethanol and advanced biofuels with carbon-capture and biogas projects. Comparable to IBEC in low-carbon ethanol positioning, though with a more advanced growth-stage and broader technology portfolio including cellulosic pathways.

Direct peers

• POET: The largest US corn ethanol producer with a network of bioprocessing facilities. Directly comparable to IBEC in core process (corn-to-ethanol), co-product (DDG), and increasingly in low-carbon and carbon-capture investments through its POET-DSM Advanced Biofuels joint venture and Project BOLD initiative.
• Dakota Spirit AgEnergy: Third facility within the Harvestone Low Carbon Partners network, also producing corn ethanol with carbon capture. Shares the same parent, technology stack, and strategic positioning as IBEC, making it a near-perfect operational and strategic peer.
• Blue Flint Ethanol: Sister facility under the Harvestone Low Carbon Partners network, operating a corn ethanol plant in North Dakota with carbon-capture capabilities. Operationally identical to IBEC under the same corporate umbrella, making it the most directly comparable single-asset peer.
• Alto Ingredients: Formerly Pacific Ethanol, operates multiple corn ethanol production facilities producing fuel ethanol and co-products including DDG. Comparable to IBEC in plant-level operations, product mix, and California-focused low-carbon fuel positioning.
• Green Plains Inc. Pure-play corn ethanol producer operating a multi-plant platform with active carbon-capture and low-carbon protein initiatives. Closely comparable to IBEC in scale, geographic footprint across the Midwest, and strategic emphasis on low-carbon fuel differentiation.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Iroquois Bio-Energy