An ethanol plant at the edge of Winnebago is increasing its profits and cutting its greenhouse gas emissions through the relatively new cap and trade process.

Corn Plus joined the Chicago Climate Exchange, North America’s only cap and trade system for all six greenhouse gases.

“I think in the United States there will be more cap and trade, and these carbon credits are going to become more valuable,” said plant manager Keith Kor.

The exchange effectively puts a price on carbon dioxide and other emissions.

Under the program, Corn Plus pledges to meet substantial but feasible reductions in its emissions over a certain number of years. If they reduce emissions enough, they get credits they can bank or sell to other member companies that fail to meet their reduction targets.

It started for Corn Plus when, a few years ago, they looked for a way to reduce the amount of natural gas they use. They installed a fluidized bed boiler that burns a concentrated syrup byproduct from the plant.

“We cut our natural gas use by 52 percent,” Kor said.

That reduction equals about 40,000 tons of credits, which can equal hundreds of thousands of dollars depending on the credits’ value when sold.

The plant also is saving money and reducing the burning of coal at power plants by installing two 2.1-megawatt wind turbines in 2007. Kor said they cover 40 to 50 percent of the plant’s electricity demand.

Corn Plus is ahead of its target for reducing its carbon footprint, which gains them additional credits.

Corn Plus was the first ethanol plant to join the exchange, which has a host of members including Ford, Dow chemical company and Cargill.

The Chicago Climate Exchange was founded and is led by economist Richard L. Sandor, who was named a Hero of the Planet by Time Magazine in 2002 for founding the exchange and in 2007 as the “father of carbon trading.”

Reductions achieved through the exchange are the only reductions made in North America through a legally binding compliance regime, providing independent third-party verification.

Members of the exchange make a voluntary but legally binding commitments to meet annual greenhouse gas emission reduction targets.

Jim Murphy, president of the Chicago-based Carbon Green LLC, works with biofuels companies — including Corn Plus — to get through the extensive process of setting and verifying carbon reductions and joining the exchange.