Green Plains Achieves 58% Protein Concentration Milestone

Rhea-AI Summary

Green Plains Inc. (NASDAQ:GPRE) has achieved a significant milestone by producing 58% sustainable Ultra-High Protein at its Shenandoah, Iowa biorefinery, utilizing Fluid Quip’s proprietary MSC protein technology. Initial product quantities have been delivered to pet food partners for formulation studies, indicating enhanced nutritional properties. This advancement supports the company's transformation strategy aimed at financial goals for 2024. Plans are in motion to implement similar technology across additional biorefineries, with initial sales agreements established for 2021 production.

Positive

• Achieved 58% sustainable Ultra-High Protein using proprietary MSC technology.
• Initial product delivered for formulation studies suggests improved nutritional characteristics.
• Plans to expand MSC technology across additional biorefineries.
• Initial sales agreements in place for 2021 Ultra-High Protein production.

Negative

• None.

Achieved Using Fluid Quip’s Proprietary MSC Protein Technology

OMAHA, Neb., Feb. 24, 2021 (GLOBE NEWSWIRE) -- Green Plains Inc. (NASDAQ:GPRE) today announced that development efforts between Green Plains, Fluid Quip Technologies and other innovation partners have led to the production of 58% sustainable Ultra-High Protein at Green Plains’ Shenandoah, Iowa biorefinery. The breakthrough development was achieved using Fluid Quip’s proprietary MSC™ protein technology and improved operating parameters at full commercial run rates. The company has delivered initial quantities of the new product to its pet food partners for use in formulation and palatability studies to confirm improved taste and nutritional characteristics.

“Achieving these protein purity levels at full commercial scale is further validation that our transformation strategy is on track, and we believe our financial goals for 2024 can be realized as we accelerate our plan to consistently produce premium products,” said Todd Becker, president and chief executive officer of Green Plains. “From the onset of this initiative, we anticipated achieving higher protein levels and we are reaching these goals much earlier than expected. This breakthrough is a game changer, and to the best of our knowledge has never before been accomplished in a dry mill biorefinery. Utilizing the power of this innovative platform, we are developing solutions for a world that is deficient in proteins while accelerating the development of value-added ingredients.”

The initial Ultra-High Protein system, installed in Shenandoah, Iowa, began production in April 2020 and has seen consistent protein concentration and purity improvement since inception. Green Plains has announced plans to install this revolutionary technology at Mount Vernon, Ind., Obion, Tenn. and Wood River, Neb., with the intent to implement the technology across its entire biorefinery platform. The company also announced initial offtake and sales agreements for most of its 2021 Ultra-High Protein production for use in pet food, poultry feed, aquaculture feed and dairy rations.

“While we are very excited about the potential of the protein purity levels achieved, the ability to use our base sustainable Ultra-High Protein product as a preferred delivery mechanism in multiple markets with the ability to layer in precise nutritional characteristics at scale is achievable today,” commented Becker. “This is a great example of what is attainable through the use of this cutting-edge agricultural technology and the strategic partnerships we have in place. We believe these innovations will help reduce land use for food production and decrease the amount of raw materials it takes to produce affordable high protein products for global consumers. We are rapidly creating an ag tech based company with valuable intellectual property, while simultaneously delivering low carbon ingredients and fulfilling our commitment to sustainability for our shareholders.”

About Green Plains Inc.
Green Plains Inc. (NASDAQ:GPRE) is a leading biorefining company focused on the development and utilization of fermentation, agricultural and biological technologies in the processing of annually renewable crops into sustainable value-added ingredients. This includes the production of cleaner low carbon biofuels, renewable feedstocks for advanced biofuels and high purity alcohols for use in cleaners and disinfectants. Green Plains is an innovative producer of Ultra-High Protein and novel ingredients for animal and aquaculture diets to help satisfy a growing global appetite for sustainable protein. The Company also owns a 48.9% limited partner interest and a 2.0% general partner interest in Green Plains Partners LP. For more information, visit www.gpreinc.com.

Green Plains Inc. Contacts
Investors: Phil Boggs | Senior Vice President, Investor Relations | 402.884.8700 | phil.boggs@gpreinc.com
Media: Leighton Eusebio | Manager, Public Relations | 402.952.4971 | leighton.eusebio@gpreinc.com
Protein Sales: Walter Cronin | Chief Commercial Officer | 402.253.6027 | walter.cronin@gpreinc.com

FAQ

What recent achievement did Green Plains Inc. reach in protein production?

Green Plains Inc. announced the production of 58% sustainable Ultra-High Protein at its Shenandoah biorefinery.

What technology did Green Plains use to enhance protein production?

Green Plains used Fluid Quip’s proprietary MSC protein technology to achieve higher protein levels.

What markets will Green Plains' Ultra-High Protein product serve?

The Ultra-High Protein product will be used in pet food, poultry feed, aquaculture feed, and dairy rations.

When does Green Plains expect to realize its financial goals?

Green Plains aims to achieve its financial goals for 2024 by accelerating the production of premium products.

What are the future plans for Green Plains’ protein technology?

Green Plains plans to implement MSC technology across additional biorefineries in Indiana, Tennessee, and Nebraska.