REX American Resources

When Congress introduced the Renewable Fuel Standard in 2005, it paved the way for the US to become the world’s largest producer of biofuels—principally, corn-based ethanol which is blended into road fuel. REX American Resources began investing in ethanol production in 2006. Since then, ethanol consumption has risen in line with the Congressional mandate and now constitutes nearly 10% of all gasoline. A lucrative acquisition in late 2011 helped REX American Resources almost triple its revenues to $666 million by the beginning of 2014. Despite a recent White House proposal to reduce the ethanol mandate, the company reported record first quarter earnings in May and its stock price has surged. —N.S.