USDA Expands Crop Insurance Coverage for Camelina in Southern Plains and Pacific Northwest Regions
Great Falls, MT – Today the Risk Management Agency (RMA), a department of the U.S. Department of Agriculture (USDA), announced it will expand insurance for camelina in the Southern Plains and Pacific Northwest regions, providing additional grower certainty as demand for the renewable fuel feedstock crop rises across the US.
The newly adopted program by the USDA RMA now allows written agreements in select counties in Colorado, Idaho, Kansas, Montana, Nebraska, North Dakota, Oklahoma, Oregon, Texas, and Washington. Global Clean Energy Holdings, Inc. and its subsidiary Sustainable Oils, Inc., the world’s largest camelina producer, collaborated extensively with the USDA to make this expansion possible.
“We like to say that camelina protects like a cover crop and pays like a cash crop – benefits that are increasingly important to strengthening our soil health and rural agricultural communities,” Mike Karst, President of Sustainable Oils said. “Thanks to this insurance expansion by the USDA’s RMA, farmers can grow camelina with confidence knowing there is a safety net to protect their crop. Risk management is critical for the continued adoption of camelina throughout the country, providing ultra-low carbon intensity renewable fuels and enhancing soil health on farmland. We thank the USDA for recognizing the value of this important crop and adapting policies to support its continued growth.”
Camelina is a nonfood crop that is used as an ultra-low carbon feedstock for renewable fuel production and as an ingredient for high protein animal feed. Its short production cycle allows camelina to be incorporated into existing crop rotations providing the benefits of a cover crop during idle/fallow land periods, and additional revenue for growers.
The new camelina crop insurance offers Actual Production History coverage and only camelina grown under contract with a processor is eligible for coverage. Growers interested in camelina can contact Sustainable Oils for more information. Read more about camelina crop insurance on the USDA Risk Management Agency website.
About Global Clean Energy
Global Clean Energy Holdings, Inc. (OTCQB: GCEH) is a vertically integrated renewable fuels business that is focused on reducing carbon emissions sustainably through their proprietary nonfood camelina varieties – delivering among the lowest carbon intensity renewable fuel in the marketplace. Their strategy since its inception has been to control the full integration of the renewable fuels supply chain from science to seed and farm to fuel. Global Clean Energy aims to operate the development, production, processing, and transportation of feedstocks as well as the refining and production of renewable fuels. They will process their proprietary nonfood camelina feedstock in their Bakersfield, California renewable fuels refinery, yielding a renewable diesel that is chemically identical to petroleum diesel, but with 80+ percent lower carbon emissions. More information can be found at www.gceholdings.com.
About Sustainable Oils, Inc.
Sustainable Oils, Inc., Global Clean Energy’s wholly owned plant science subsidiary, owns an industry leading portfolio of intellectual property rights, including patents, Plant Variety Protection certificates, and production know-how to produce its proprietary camelina varieties as a nonfood ultra-low carbon renewable fuel feedstock. These varieties are the only nonfood renewable feedstock on the market certified for both the U.S. EPA’s Renewable Fuel Standard and California’s Low Carbon Fuel Standard. Sustainable Oils and has its headquarters in Great Falls, Montana. More information can be found online at www.susoils.com.
Forward Looking Statements
All statements in this communication other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of Global Clean Energy Holdings, Inc. Although we believe the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, but are not limited to, the following: our ability to complete and effectively produce renewable diesel at our renewable fuels refinery, and once operational, producing fuel at the expected rate and cost as anticipated; ensuring adequate supply of camelina or other comparable feedstock; successfully supplying our refinery with camelina or similar feedstock and converting it into renewable fuels; being able to store and transport feedstock and downstream renewable fuels; obtaining and maintaining regulatory approvals and certifications for our renewable fuels to ensure compliance in local and global markets; continued demand and growth for renewable fuels; the ability to produce renewable diesel that is completely fungible with petroleum-based diesel; expanding the capabilities of our refinery site to maximize profitability; our ability to comply with the terms of our credit facilities and production agreements; successfully integrating acquired companies and expanding operations overseas in parallel with our US-based operations; managing all aspects of a complex vertically integrated supply and production strategy, and overcoming circumstances that often are out of our control such as weather, transportation, production delays and ultimately, ultimate demand for our product; as well as other additional risks and factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement.
Important factors that could cause actual results, developments and business decisions to differ materially from forward-looking statements are described in the sections titled “Risk Factors” in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.
Released June 30, 2023