Heroku will probably work fine for this, but if you have the technical chops to run your own EC2 instances, I'd recommend that - you'll pay less and you'll have more control.
Since this is effectively a cronjob sort of operation, though, is there a reason you wouldn't run it on one of your application servers? Unless you're in a position where CPU + memory are effectively all spoken for, I'm not sure I understand why you'd need a dedicated instance for this sort of thing - it'll run for a bit, but I suspect most of that time will be network comms, so it's not even going to thrash your CPU that hard.
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Heroku will probably work fine for this, but if you have the technical chops to run your own EC2 instances, I'd recommend that - you'll pay less and you'll have more control.
Since this is effectively a cronjob sort of operation, though, is there a reason you wouldn't run it on one of your application servers? Unless you're in a position where CPU + memory are effectively all spoken for, I'm not sure I understand why you'd need a dedicated instance for this sort of thing - it'll run for a bit, but I suspect most of that time will be network comms, so it's not even going to thrash your CPU that hard.