Bulletin
Investor Alert

press release

Feb. 20, 2020, 9:01 a.m. EST

Smithfield Foods, Inc. and Roeslein Alternative Energy Continue Development of Manure-to-Energy Projects in Missouri

Projects to produce enough renewable natural gas to power more than 2,700 homes and businesses

SMITHFIELD, Va., Feb 20, 2020 (GLOBE NEWSWIRE via COMTEX) -- SMITHFIELD, Va., Feb. 20, 2020 (GLOBE NEWSWIRE) -- Smithfield Foods, Inc. and Roeslein Alternative Energy (RAE) announced an additional $45 million investment in their Monarch Bioenergy joint venture, which captures methane from hog manure to produce renewable natural gas (RNG) in Missouri. The additional investment will enable the continued implementation of "manure-to-energy" projects on Smithfield's farms, resulting in RNG generation across 85% of the company's hog finishing spaces in the state.

This activity builds upon the "manure-to-energy" projects currently in operation across five Smithfield farms in northern Missouri and puts the company one step closer to equipping nearly all its finishing spaces in the state with the technology to produce RNG. The continued progress underscores Smithfield's industry-leading commitment to sustainability, and is key to achieving the company's goal to reduce greenhouse gas (GHG) emissions 25% by 2025 .

"Smithfield and RAE have been innovating 'manure-to-energy' technology together in Missouri since 2014," said Kraig Westerbeek, senior director of Smithfield Renewables and hog production environmental affairs for Smithfield Foods. "Our companies have a longstanding commitment to renewable energy, and we're thrilled to be one step closer to having nearly all our Missouri finishing farms engaged in producing RNG."

The "manure-to-energy" projects allow Monarch Bioenergy to leverage the infrastructure of Smithfield's farms to capture methane emissions from hog farms and convert them into pipeline-quality natural gas, which will be distributed to RNG markets across the country.

"The scale of Smithfield's operations and our expertise in renewable energy production have created the ideal partnership to have a tangible impact on carbon emissions," said Rudi Roeslein, president of RAE. "The latest phase of Monarch Bioenergy demonstrates our shared commitment to creating a sustainable future for families with new sources of renewable energy."

Monarch Bioenergy is part of Smithfield Renewables , Smithfield's platform to unify and accelerate its carbon reduction and renewable energy efforts. Today's investment complements numerous initiatives Smithfield is implementing across the country, including additional renewable natural gas projects in North Carolina, Utah and Virginia.

To learn more about Smithfield's carbon reduction efforts, please visit smithfieldfoods.com/environment .

About Smithfield Renewables
Smithfield Renewables is a strategic platform within Smithfield Foods, a $15 billion global food company and the world's largest hog producer and pork processor. Smithfield launched this platform in 2017 to lead, unify, and accelerate the company's renewable energy efforts to help meet its industry-leading goal to reduce greenhouse gas (GHG) emissions 25% by 2025--the first commitment of its kind by a protein company. To achieve this goal, Smithfield has implemented a wide range of projects across its farms and facilities, including converting hog manure into renewable nature gas and commercial-grade fertilizer, streamlining its transportation network, launching an ambitious solid waste reduction plan, sourcing sustainably grown feed grain, and implementing operational efficiency projects. For more information, visit www.smithfieldfoods.com/renewables .

About Smithfield Foods, Inc.
Headquartered in Smithfield, Va. since 1936, Smithfield Foods, Inc. is an American food company with agricultural roots and a global reach. Our 40,000 U.S. employees are dedicated to producing "Good food. Responsibly.(R)" and have made us one of the world's leading vertically integrated protein companies. We have pioneered sustainability standards for more than two decades, including many industry firsts, such as our ambitious commitment to cut our carbon impact by 25 percent by 2025. We believe in the power of protein to end food insecurity and have donated hundreds of millions of food servings to our neighbors in need. Smithfield boasts a portfolio of high-quality iconic brands, such as Smithfield(R), Eckrich(R) and Nathan's Famous(R), among many others. For more information, visit www.smithfieldfoods.com , and connect with us on Facebook, Twitter, LinkedIn and Instagram.

About Roeslein Alternative Energy, LLC
Roeslein Alternative Energy (RAE) is the owner, operator and developer of renewable energy production facilities that convert agricultural and industrial wastes, along with renewable biomass feedstocks to renewable natural gas and sustainable co-products. RAE engages in these business operations with a focus on incorporating native prairie restoration. RAE is a limited liability company with its principal offices located in St. Louis, Missouri. RAE was launched in 2012 by Rudi Roeslein, co-founder and CEO of St. Louis-based Roeslein and Associates, Inc. (a global leader in engineering, modular fabrication, and construction of industrial plant facilities).

Contact:
Brandon Butler
Roeslein Alternative Energy
(660) 281-9804
bbutler@roesleinae.com

Greg Nyhan
MWWPR on Behalf of Smithfield Foods, Inc.
(646) 215-6884
gnyhan@mww.com

(C) Copyright 2020 GlobeNewswire, Inc. All rights reserved.

Link to MarketWatch's Slice.