Green Plains Announces Groundbreaking at Obion Protein Technology Installation

Rhea-AI Summary

Green Plains Inc. (NASDAQ: GPRE) has commenced construction of the MSC™ system at its subsidiary Green Plains Obion LLC, marking the fifth installation of this technology. Completion is expected in 2022. This facility is set to produce around 70,000 tons of Ultra-High Protein and increase renewable corn oil production by 50%. Overall, the company anticipates an annual capacity of approximately 600,000 tons of Ultra-High Protein and 400 million pounds of renewable corn oil, catering to the growing renewable diesel market and enhancing its customer-centric, value-added ingredient strategy.

Positive

• Construction of MSC™ system at Green Plains Obion LLC will enhance production capacity.
• Expected annual production of 70,000 tons of Ultra-High Protein and a 50% increase in renewable corn oil production.
• Anticipated overall production capacity of 600,000 tons of Ultra-High Protein and 400 million pounds of renewable corn oil.

Negative

• None.

OMAHA, Neb., Nov. 23, 2021 (GLOBE NEWSWIRE) -- Green Plains Inc. (NASDAQ: GPRE) today announced its wholly-owned subsidiary Green Plains Obion LLC has broken ground on the construction of Fluid Quip Technologies’ MSC™ system. Obion is the fifth Green Plains location to install the MSC™ technology, with completion expected in 2022. Fagen, Inc. will be the EPC general contractor, as the exclusive partner for all Green Plains’ MSC™ installations.

“As we install Fluid Quip’s market-leading technology suite across our platform, we are adding value to our ingredients and providing novel nutritional solutions for our customers,” said Todd Becker, president and chief executive officer of Green Plains. “Our transformation into a customer-centric, value-added ingredient producer is well underway. Our location in Tennessee is suited to service nutritional demand across multiple species, and is geographically ideal to satisfy global demand for our products.”

Obion will have the capacity to produce approximately 70,000 tons of Ultra-High Protein annually and is expected to increase renewable corn oil production by 50%. At full scale, Green Plains’ anticipated annual Ultra-High Protein production capacity will be approximately 600,000 tons, and renewable corn oil capacity is anticipated to be approximately 400 million pounds. Renewable corn oil is a highly sought-after low-carbon intensity feedstock for the rapidly expanding renewable diesel market.

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 | Executive Vice President, Investor Relations | 402.884.8700 | phil.boggs@gpreinc.com
Media: Lisa Gibson | Communications Manager | 402.952.4971 | lisa.gibson@gpreinc.com

FAQ

What is Green Plains Inc.'s recent announcement regarding GPRE?

Green Plains announced the construction of the MSC™ system at its Green Plains Obion LLC subsidiary.

When is the expected completion date for the MSC™ system at Green Plains?

The MSC™ system is expected to be completed in 2022.

What will be the production capacity of the new MSC™ system at Green Plains?

The new system is expected to produce approximately 70,000 tons of Ultra-High Protein annually.

How much will renewable corn oil production increase at Green Plains Obion LLC?

Renewable corn oil production is expected to increase by 50%.

What is the total anticipated annual production capacity for Green Plains after MSC™ installation?

Green Plains anticipates a total annual production capacity of approximately 600,000 tons of Ultra-High Protein and 400 million pounds of renewable corn oil.