Phillips 66 in Talks to Clean Up ADM’s Coal-Fired Ethanol Plants

Archer-Daniels-Midland Co. and Phillips 66 are discussing how to clean up the crop trader’s ethanol plants as part of talks for a joint venture, said people familiar with the matter.

Under the terms being discussed, Phillips 66 would help fund decarbonization of the ADM’s coal-fired ethanol plants, said the people, who asked not to be named discussing private talks. The work would start with its flagship facility in Decatur but could also be extended to plants in Columbus or Cedar Rapids, the people said.

Chicago-based ADM and the oil refiner are in talks for a potential joint venture that would ...