Green Plains: BlendStar Ethanol Terminal Unloads First Unit Train
OMAHA, Nebraska, - Green Plains Renewable Energy, Inc. (GPRE) announced today that BlendStar LLC, its wholly-owned subsidiary, has completed construction and has begun operations at its 96-car unit train terminal in Birmingham, Ala. The new terminal is served by the BNSF Railway and has a throughput capacity of 300 million gallons of ethanol annually.
"We are pleased to announce the start-up of operations at the Birmingham terminal, which will provide more efficient distribution of ethanol to underserved markets in the southeastern U.S.," said Todd Becker, President and Chief Executive Officer of Green Plains. "We have unloaded the first unit train of ethanol and expect the terminal to be at full capacity in January 2013. This facility expands our geographic footprint consistent with our strategy to expand our downstream distribution capabilities."
The Birmingham terminal currently has 160,000 barrels of storage and a four-lane covered truck rack, both with expansion capabilities.
About Green Plains Renewable Energy, Inc.
Green Plains Renewable Energy, Inc. (GPRE) is North America's fourth largest ethanol producer, which markets and distributes approximately one billion gallons of renewable motor fuel annually. Green Plains owns and operates grain storage assets in the corn belt and biofuel terminals in the southern U.S. Green Plains is a joint venture partner in BioProcess Algae LLC, which was formed to commercialize advanced photo-bioreactor technologies for growing and harvesting algal biomass.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such statements are identified by the use of words such as "anticipates," "believes," "estimates," "expects," "goal," "intends," "plans," "potential," "predicts," "should," "will," and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. Such statements are based on management's current expectations and are subject to various factors, risks and uncertainties that may cause actual results, outcome of events, timing and performance to differ materially from those expressed or implied by such forward-looking statements. Green Plains may experience significant fluctuations in future operating results due to a number of economic conditions, including, but not limited to, competition in the ethanol and other industries in which the Company operates, commodity market risks including those that may result from current weather conditions, financial market risks, counter-party risks, risks associated with changes to federal policy or regulation, risks related to closing and achieving anticipated results from acquisitions, risks associated with the joint venture to commercialize algae production and the growth potential of the algal biomass industry, and other risks detailed in the Company's reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2011, and in the Company's subsequent filings with the SEC. In addition, the Company is not obligated, and does not intend, to update any of its forward-looking statements at any time unless an update is required by applicable securities laws.
Jim Stark, Vice President - Investor and Media Relations
Green Plains Renewable Energy, Inc.