Shell Rock Soy Processing names senior managers, board member

SRSP is under construction and expects to be operational late next year. (Photo: Shell Rock Soy Processing LLC)

Four experienced leaders have joined Shell Rock Soy Processing LLC, a large-scale soybean crushing plant under construction in northeast Iowa near Shell Rock slated to begin operations late next year. Three of these ag professionals will fill executive and operational roles at SRSP, while one will fill a strategic role by serving on the board of directors.

“We’re pleased to welcome four industry leaders whose exceptional leadership qualities and extensive know-how are an ideal match for this state-of-the-art plant and the ambitious plans we have for its future,” said Bailey Ragan, chairman of SRSP’s board of directors who spent three decades as a senior leader at Bunge North America in the oilseeds and grain business units. “These leaders were recruited after a rigorous process that focused on their professional track records and skill in cultivating a culture of excellence in their organizations.”

Joining SRSP are:

• Corey Jorgenson, chief executive officer and general manager, with overall responsibility for SRSP’s management. Jorgenson brings broad experience in the agriculture and food supply chain industry. He spent 20 years with Cargill Inc., serving in a variety of roles, including managing overseas operations. More recently, he applied his experience at Indigo Agriculture and The Andersons Inc.

• Jared Heldt, commercial and trading director, with responsibility for SRSP’s origination, logistics and overall margin management. Heldt offers extensive expertise in oilseeds processing, with more than a decade in management, trading and merchandising roles at Archer Daniels Midland Co.

• Ken Drilling, director of plant operations, with responsibility for ensuring safe and efficient plant performance. Drilling brings more than two decades of experience as plant manager, project leader and biodiesel manager for Cargill’s facilities across the Midwest.

• Mark Stonacek, the newest member of SRSP’s board of directors. Stonacek is founder and CEO of White Pine Partners, a business consulting firm. He’s also a 32-year veteran of Cargill, where he was the chief financial officer for the company’s global agriculture supply chain enterprise. Prior to that, he served as president of Cargill’s North America grain and oilseeds operations and held other leadership roles.

“It’s very exciting to be working with an incredibly talented group of industry professionals to launch this new facility here in Iowa,” Jorgenson said. SRSP expects to round out its senior management team soon to ensure the new business has the right expertise to ramp up quickly, he added.

The new plant will crush about 38.5 million bushels of soybeans annually, or 110,000 bushels daily, once operational. Each year, the facility is expected to produce 847,000 tons of soybean meal for livestock feed markets, 423 million pounds of crude soybean oil, and 77,000 tons of pelleted soybean hulls for livestock feed. The plant, which will operate 24/7, is expected to create 50 to 60 high-quality jobs in the local community.

SRSP is well positioned to serve local producers efficiently, Jorgenson said. The plant will also provide high-quality feed ingredients to meet the growing domestic and global demand for protein, as well as renewable feedstocks for a low-carbon energy future.

“We look forward to making Shell Rock the go-to business partner for companies seeking best-in-class services from a highly responsive team,” Jorgenson said.

In April, Phillips 66 and SRSP announced a partnership arrangement in which Phillips 66 invested in a minority stake in SRSP and agreed to offtake 100 percent of its soybean oil for its renewable diesel operations in California.