REX American Resources Profile
REX American Resources Corporation, through its subsidiaries, produces and sells ethanol and by-products.
The company is invested in three ethanol production entities – One Earth Energy, LLC (One Earth); NuGen Energy, LLC (NuGen); and Big River Resources, LLC (Big River). The company owns a majority interest in One Earth and NuGen.
The three entities own a total of six ethanol production facilities, which in aggregate shipped approximately 691 millions gallons of ethanol over the twelve-month period ended January 31, 2023. The company’s effective ownership of gallons shipped, for the twelve-month period ended January 31, 2023, by the ethanol production facilities in which the company has ownership interests was approximately 271 million gallons.
The company, through its affiliate, One Earth Energy, LLC, is in the exploratory stage of a carbon sequestration project near the One Earth Energy ethanol plant. The company has applied for a Class VI injection well permit for three wells with the U.S. Environmental Protection Agency (EPA). In addition, the company has signed a construction contract to capture, dehydrate, and compress carbon to a state suitable for sequestration for the One Earth Energy ethanol plant. The company is working on an engineering design study for a short pipeline to deliver carbon from the ethanol plant to the sequestration site.
During 2013, the company entered into a joint venture to file and defend patents for eSteam technology. The patented technology is an enhanced method of heavy oil recovery involving zero emissions downhole steam generation. As of January 31, 2023, the company had not successfully had a field operation nor demonstrated that the technology is commercially feasible. The company owns 60% and its partner owns 40% of the entity named Future Energy, LLC, an Ohio limited liability company. The company has no plans to operate this technology and is maintaining patents in limited countries.
The plants the company has invested in are designed to use the dry milling method of producing ethanol. Depending on market and operating conditions, the company may also sell modified distillers grains, or wet distillers grains, by removing less liquid content compared to dry distillers grains with solubles (DDGS). The company also generates revenues from the sale of non-food grade corn oil produced at its facilities. Non-food grade corn oil is sold to the animal feed market, as well as biodiesel and other chemical markets.
As of January 31, 2023, the company’s consolidated ethanol entities owned a combined 1,342 acres of land and two facilities that shipped a combined quantity of approximately 266 million gallons of ethanol.
Service Marks
The company has registered the service marks ‘REX’ and ‘Farmer’s Energy’ with the United States Patent and Trademark Office.
History
The company was founded in 1980. It was incorporated in Delaware in 1984. It was formerly known as REX Stores Corporation and changed its name to REX American Resources Corporation in 2010.
