Green Plains Renewable Energy to Implement Corn Oil Extraction Technology

Jul 22, 2010
Source Name: 
msnbc
Source Url: 
http://www.msnbc.msn.com/id/38351109

Green Plains Renewable Energy, Inc. (Nasdaq:GPRE) announced today that it will implement corn oil extraction technology at its ethanol plants. The Company expects to complete the technology deployment by the end of the first quarter of 2011 and anticipates the project would enhance operating income by $15 million to $19 million per year.

"Our objective is to continue to diversify our cash flows and to de-risk our overall platform," said Todd Becker, President and Chief Executive Officer of Green Plains Renewable Energy. "This project allows us to realize additional income streams from value-added co-products. The production of 75 million to 90 million pounds of corn oil per year will generate substantial recurring free cash flows and excellent returns on invested capital."

ICM, Inc. has been awarded turn-key installation contracts at five of the Company's six plants. The expected total project cost for all plants is approximately $18 million. The Company anticipates first revenues from corn oil extraction at the Obion, Tennessee plant to occur within the next 90 days.
Green Plains has entered into a license agreement with GS CleanTech Corporation, a subsidiary of GreenShift Corporation, to utilize its patents and pending patents.

Author: Anonymous

About Carbon Outlook

With an exclusive focus on emerging economies, Carbon Outlook is an independent information marketplace tracking actions related to the carbon economy as well as their impact. It proactively promotes a data driven approach to enable action by local, regional as well as global practitioners.

Carbon Outlook provides (a) in-depth business and policy analysis, (b) updates on the market participants and latest trends on sustainability initiatives, and (c) expert inputs on the GHG emission reduction and other carbon abatement as well as adaptation measures being undertaken in these regions. More about us »

Join the conversation

Carbon Outlook welcomes content contributions and strongly encourages all sector participants to actively share their perspective on industry developments, policy discussions and thoughts on how to augment initiatives to create a Low Carbon Economy.

You can contribute and engage by:
- sending us views on industry news and policy
- sharing thoughts on contributions from other authors
- sharing information on events and sector developments

Newsletter Subscription

To subscribe to the fortnightly intelligence update or the daily news tracker CLICK HERE »


View archived newsletters »