REX American Resources Corporation

REX American Resources is a leading American-based alternative energy company in producing ethanol, a renewable and cleaner-burning fuel, with facilities located in Illinois and South Dakota.

REX owns majority interests in two operational ethanol plants located in Gibson City, Illinois and Marion, South Dakota, with a total combined ethanol production capacity of approximately 150 million gallons per year. The company also has minority ownership interests in plants across Illinois, Iowa, and Wisconsin representing an additional annual ethanol production capacity of approximately 725 million gallons across all six facilities and of which REX American ownership interest of approx. 300 million gallons.

In the third quarter of 2023, REX generated net sales of $221.1 million and gross profit of $39.3 million. The company has significant financial flexibility, ending the third quarter with $332 million in cash and cash equivalents and $369 million in working capital, with no outstanding bank debt on the balance sheet.

The Gibson City ethanol plant is currently undergoing a $165 million expansion, which will increase its annual production capacity to 200 million gallons by 2024. Additionally, REX is developing a large-scale carbon sequestration project tied to the Gibson City facility. The carbon capture project is designed to sequester up to 90 million tons of carbon dioxide from ethanol production and has begun key construction milestones in anticipation of beginning operations.