Koda Energy, LLC

What Koda Energy, LLC does

Koda Energy, LLC operates a single 23.4 MW biomass combined heat and power plant in Shakopee, Minnesota, that has been in commercial operation since May 2009. The facility uses a suspension boiler with six wall-fired burners (62 million BTU each) to combust agricultural byproducts (malt dust, barley chaff, oat hulls, wheat and rice hulls, sunflower hulls, pea and corn screenings), virgin wood waste, and urban tree trimmings into a 3,000-3,500°F fireball that generates over 220,000 lb/hr of high-pressure steam at 900°F. This steam drives a Siemens turbine generator at 6,834 RPM, producing an average of 19.7 MWh of electricity (~16.8 MWh net after internal use) and ~2,500 million BTU/day of thermal energy, with an 87% heat conversion rate versus ~63% for coal. Annual fuel throughput is ~175,000 tons, delivered from within a 75-mile radius in self-unloading walking floor trailers.

Koda's revenue model is dual-stream and entirely B2B. Electricity is sold under a power purchase agreement to Xcel Energy (~12 MWh to the local grid), with smaller volumes to Rahr Malting and self-consumption, while 100% of thermal energy is delivered through a food-grade glycol loop to Rahr Malting's industrial kilns, displacing approximately 70-80 million cubic feet of natural gas each month. Koda was formed in 2006-2007 as a partnership between Rahr Malting Company and the Shakopee Mdewakanton Sioux Community; following an April 2013 silo fire, the fuel handling system was rebuilt in a $6.77M-$7M project that introduced a horizontal fuel receiving system and reduced particulate emissions by 20%. In January 2021, Rahr Corporation acquired full ownership, making Koda a wholly-owned subsidiary within RahrBSG. Operations are now stable across roughly 50 weeks per year, with 18-23 full-time employees and supplier outreach focused on regional biomass feedstock.

Name

Koda Energy, LLC

Legal name

Koda Energy, LLC

Website

https://kodaenergy.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

11–50 employees

Short description

Koda Energy operates a 23.4 MW biomass combined heat and power plant in Shakopee, Minnesota, selling renewable electricity to Xcel Energy and all thermal energy to Rahr Malting under long-term offtake agreements, and is wholly owned by Rahr Corporation.

Ownership category

akta.pro rank

Product category

Biomass Power Generation

NAICS

Biomass Electric Power Generation (221117), Steam and Air-Conditioning Supply (22133)

SIC

Cogeneration Services & Small Power Producers (4991), Motors & Generators (3621), Engines & Turbines (3510)

akta.pro primary industry

Biomass CHP & Cogeneration Plants (Industrial & Utility) (EUAAAGAA)

akta.pro secondary industries

Biomass Plant Operations, Maintenance & Performance Services (O&M) (EUAAAGAI), Forestry & Wood Waste Biomass Power (Sawmill Residues, Black Liquor) (EUACAIAG), Biomass Combustion & Boiler Island Technology (Grates, Fluidized Bed, Burners) (EUAAAGAG)

Keywords

• Biomass energy generation
• Combined heat power
• Renewable electricity supply
• Thermal energy sales
• Agricultural byproduct combustion

Headquarters

HQ city

Shakopee

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Electricity Sales: Sale of generated electricity to Xcel Energy (approximately 12 MWh sold to grid), Rahr Malting (approximately 3 MWh used by Koda, remainder sold to Rahr), with excess sold to Xcel Energy grid. Power generation averages 19.7 MWh with net output of approximately 16.7-16.8 MWh.
2. Thermal Energy Sales: All thermal energy produced is sold to Rahr Malting to displace natural gas usage. Approximately 2,500 million BTU/day on average. Heat displaces approximately 70-80 million cubic feet of natural gas each month.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Koda Energy operates a 23.4 MW biomass combined heat and power (CHP) plant in Shakopee, Minnesota that combusts agricultural byproducts, virgin wood waste, and urban tree trimmings in a suspension boiler. The facility sells electricity to Xcel Energy (under a long-term power purchase agreement) and to Rahr Malting Company, while directing 100% of its thermal energy to Rahr Malting to displace natural gas usage in the malting process.

Product overview

Koda Energy operates as a single unified facility—a 23.4 MW biomass combined heat and power (CHP) plant located in Shakopee, Minnesota. The plant converts agricultural byproducts and wood waste into electricity via a Siemens steam turbine generator and thermal energy sold to Rahr Malting Company. The facility's three integrated components work together: biomass fuel processing and handling, combustion in a suspension boiler system, and steam turbine-based electricity generation. All electricity is sold to Xcel Energy (approximately 12 MWh), Rahr Corporation (approximately 4-5 MWh), and self-consumed (approximately 3 MWh), while all thermal energy is sold to Rahr to displace natural gas usage.

Differentiator

Problem solved

Functional benefit

Products and services

• Biomass Combined Heat and Power Generation Core service: a 23.4 MW biomass combined heat and power (CHP) plant that generates electricity and thermal energy by burning agricultural byproducts, virgin wood waste, and urban tree trimmings. Electricity is supplied to Xcel Energy and Rahr Corporation (Rahr Malting), while all thermal energy displaces natural gas at Rahr Malting's malting process.
• Biomass Fuel Processing and Combustion Receiving, sampling, sizing, and combustion of biomass fuels including malt dust and sprouts, barley dust and chaff, sawdust, oat hulls, wheat hulls, rice hulls, wood shavings, ground pallets, sunflower hulls, pea screenings, corn screenings, and other dry agricultural waste byproducts. Four hammer mills pulverize 21 tons/hour into biomass flour prior to combustion in the suspension boiler, with all incoming fuel limited to spec (≤1 inch in two dimensions, ≤¼ inch thick, <14% moisture).
• Steam and Turbine-Based Electricity Generation Conversion of high-pressure steam (220,000 lb/hr at 900°F) into electricity via a Siemens steam turbine generator operating at 6,834 RPM with a rated capacity of 23.4 MWh. Variable steam is extracted from the turbine to heat a food-grade glycol loop that delivers thermal energy into the Rahr Malting facility to heat industrial kilns.

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Rahr Corporation / Rahr Malting CompanycoreStrategic or Co-development Partner · 1 May 2009Rahr Corporation owns and operates Koda Energy as an integrated subsidiary. Rahr Malting is the world's largest single-site producer of malted barley. Koda Energy provides thermal energy for Rahr's malting process and electricity for Rahr's facility. Rahr uses waste heat from electricity generation to displace approximately 80 million cubic feet of natural gas monthly. In January 2021, Rahr Corporation took full ownership of Koda Energy.
• Shakopee Mdewakanton Sioux Community (SMSC)coreStrategic or Co-development PartnerSMSC is a co-owner and partner in Koda Energy with representation on the Board of Directors (two members from SMSC, two from Rahr). SMSC has opportunity to purchase electricity for community use. Partnership formed in 2009 to develop renewable energy for mutual benefit.
• Xcel EnergycoreChannel Partner/ Reseller/ DistributorXcel Energy purchases electricity generated by Koda Energy under a power purchase agreement, selling approximately 12 MWh to the local power grid. MISO interconnection approved in May 2007.
• Greystone ConstructionminorImplementation/ SI/ Consulting PartnerShakopee-based local contractor selected as project manager for the $6.77 million facility reconstruction in 2013-2014 following the fire incident.

Scale indicators12 records

Recent moves8 records

Expansion highlights3 records

Broad incumbents

• Clearway Energy, Inc. Owns and operates contracted renewable generation assets including biomass, sells output under long-term PPAs to investment-grade off-takers—comparable contracted renewable generation model.
• NextEra Energy Resources: Largest renewable energy generator in North America with biomass and other renewable assets selling under long-term PPAs to utilities—comparable scale and contract structure, though focused on wind/solar.
• Veolia Environnement S.A. Global operator of waste-to-energy and biomass district heating/CHP facilities serving industrial and municipal customers—comparable in cogeneration and feedstock-to-energy operations.
• DTE Energy Company: Integrated utility with biomass and renewable generation within a diversified power portfolio serving utilities and industrial customers in the Midwest—comparable utility-scale renewable CHP operations.

Emerging players

• Enerkem Inc. Operates waste-to-energy and biofuel facilities converting biomass residuals into heat and power, overlapping with Koda's biomass-combustion technology and byproduct-feedstock approach.

Others

• Babcock & Wilcox Enterprises, Inc. Supplies biomass boiler and combustion technology (grates, fluidized bed, burners) to biomass CHP plants—specific to Koda's suspension boiler technology and the broader biomass combustion equipment stack.
• Rentech, Inc. (now part of various successors): Forestry/biomass residuals markets and wood pellets for industrial and utility clients—sits in the broader biomass value chain relevant to Koda's fuel sourcing and end-markets.

Direct peers

• Covanta Holding Corporation: North America's largest owner/operator of waste-to-energy facilities producing both electricity and thermal energy under long-term contracts—analogous to Koda's biomass CHP structure with industrial and utility off-takers.
• Ameresco, Inc. Develops, owns, and operates renewable energy projects including biomass and biogas CHP for industrial customers and utilities, with long-term PPA and energy supply contracts closely mirroring Koda's commercial model.

Regional players

• Greenalia S.A. European biomass power and CHP operator using agricultural and forestry residues—technologically analogous biomass residue combustion but operating in Iberia rather than the US Midwest.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/koda-energy-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

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 Koda Energy, LLC