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Commitments and Contingencies | 3 Months Ended
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Apr. 30, 2024
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies Disclosure [Text Block] | Note 13. Commitments and Contingencies The Company may be involved in various legal actions arising in the normal course of business, from time to time. After taking into consideration legal counsel’s evaluations of any such action(s), management is of the opinion that their outcome will not have a material adverse effect on the Company’s Consolidated Financial Statements. There were no liabilities recorded at April 30, 2024 and January 31, 2024, as the Company did not believe that there was a probable and reasonably estimable loss associated with any legal contingencies. At April 30, 2024, One Earth and NuGen had combined forward purchase contracts for approximately 17.2 million bushels of corn, the principal raw material for their ethanol plants, and they have combined forward purchase contracts for approximately 3.0 million MmBtu (million British thermal unit) of natural gas. At April 30, 2024 One Earth and NuGen had combined sales commitments for approximately 51.8 million gallons of ethanol, approximately 77,500 tons of distillers grains and approximately 6.3 million pounds of distillers corn oil. At April 30, 2024, One Earth had signed non-cancelable contracts for capital projects with approximately $14.3 million remaining in future payments, of which $9.2 million is related to One Earth’s carbon sequestration project and $5.1 million relates to planned plant expansion. At April 30, 2024, One Earth had a facilities rental agreement with a utility provider that has been executed and is scheduled to commence in early 2025. The remaining future payments are estimated to be approximately $4.7 million. The facility will service both the One Earth Energy ethanol plant and the planned carbon sequestration compression facility.

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