Green Plains Renewable Energy: Nebraska Ethanol Plant
Green Plains Renewable Energy, Inc. commenced operations at its recently-acquired ethanol plant in Central City, Nebraska on July 29, 2009. Green Plains anticipates production of ethanol by August 2nd.
"The Central City plant is on-line and operational after we made some necessary repairs and capital improvements to the plant," said Todd Becker, Green Plains' President and Chief Executive Officer. "The improvements will allow us to operate more efficiently, producing 100 million gallons of ethanol annually. The Central City plant has been idle since November 2008 and, again, our team's knowledge of the process technology and execution of our start-up plan allowed us to quickly put this plant back into production after completing the acquisition."
About Green Plains Renewable Energy, Inc.
Green Plains Renewable Energy, Inc. (NASDAQ:GPRE - News) is North America's fourth largest ethanol producer, operating six ethanol plants in Indiana, Iowa, Nebraska and Tennessee, with a combined expected operating capacity of 480 million gallons of ethanol per year. Green Plains also operates an independent third-party ethanol marketing service that currently provides marketing services to three third-party ethanol producers with expected operating capacity of 305 million gallons per year. Green Plains owns 51% of Blendstar, LLC, a Houston-based biofuel terminal operator with six facilities in five states. Green Plains' agribusiness segment operates grain storage facilities and complementary agronomy, feed, and fuel businesses in northern Iowa and southern Minnesota.
This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended. Such statements are identified by the use of words such as "anticipate," "estimate," "expect," "will," "project," "intend," "plan," "believe," 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 industry, risks associated with commodity market risks, financial market risks, counter-party risks, risks associated with changes to federal policy and/or regulation, successful integration and profitable operation of these acquired facilities, 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 period ended December 31, 2008 and in the Company's subsequent filings with the SEC. Green Plains assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The cautionary statements in this report expressly qualify all of our forward-looking statements. 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.
Vice-President - Investor Relations
Green Plains Renewable Energy, Inc.