Green Plains Announces Turnkey Solution for MSC™ Protein Technology
August 04 2021 - 4:47PM
Green Plains Inc. (NASDAQ:GPRE) today announced a turnkey
solution for the installation of Fluid Quip Technologies’ MSC™
system to exclusive partners. Green Plains will provide its turnkey
partners up to 50% of capital, as well as marketing and product
development of the Ultra-High Protein and post-MSC™ distillers
grains products, and utilization of Green Plains’ exclusive
partnerships and internal expertise to help maximize product value.
These turnkey solutions will also include quality assurance and
control (QA/QC), engineering, project management and construction
services, and collaboration on any non-recourse project financing.
“Offering a turnkey solution is a significant milestone for
Green Plains, accelerating our reinvention of the biofuels
industry,” said Todd Becker, president and chief executive officer
of Green Plains. “As Green Plains’ facilities fully transform into
the model biorefineries of the future, we are offering the industry
an opportunity to innovate with us through these turnkey solutions.
We believe this is truly the most disruptive event in this industry
since its inception and feel strongly that these aligned
partnerships will maximize the technology’s potential.”
Tharaldson Ethanol in Casselton, North Dakota, is the first
turnkey partner, with permitting already underway and construction
scheduled to begin this year. Green Plains and Tharaldson have
formed a 50/50 joint venture to own and operate the MSC™ protein
technology at the 175 million-gallon facility. Annual Ultra-High
Protein production is expected to be 105,000 tons at capacity.
“We are thrilled to be first in line to access this novel
turnkey solution,” said Gary Tharaldson, owner of Tharaldson
Ethanol. “We believe incorporating MSC technology at our facility
will improve our flexibility and profitability by producing
higher-value proteins and corn oil in a sustainable manner.
Moreover, Green Plains’ turnkey solution brings numerous advantages
through an aligned partnership, focused on maximizing
profitability.”
Green Plains is in discussions with multiple parties and has the
capacity to scale to other select partners. Fagen, Inc. is expected
to serve as the exclusive general contractor for this joint venture
and all future turnkey projects. The buildout of MSC™ technology at
Tharaldson, expected to be completed in 2022, will be in
conjunction with the ongoing MSCTM installations at Green Plains’
locations, which are expected to be completed by the end of
2023.
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.
About Fagen, Inc.Fagen, Inc. is a premier, full
service EPC contractor headquartered in Granite Falls, Minnesota.
Established in 1988, our family owned company was founded on the
principal of making our clients successful. In all that we do, we
continually instill the importance of safety, quality and customer
satisfaction throughout the entire framework of our company. Fagen,
Inc. has constructed 60% of the ethanol production capacity in the
United States, as well as multiple biodiesel, wind and power
projects. The unmatched standard for safety, quality, and service
has led Fagen, Inc. to be consistently listed in the Top 400
Contractors by Engineering News Record. To learn more about Fagen,
Inc., visit www.fageninc.com.
About Tharaldson EthanolTharaldson Ethanol is
located just west of Casselton, N.D., an area known for its rich
farming tradition. Tharaldson Ethanol provides a much-needed local
market for area corn growers, requiring about 60 million bushels of
corn annually, which will in turn produce 175 million gallons of
ethanol and about 500,000 tons of dried distillers grain each year.
For more information visit www.tharaldsonethanol.com.
Forward-Looking StatementsThis news release
includes forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, as amended.
Forward-looking statements reflect management’s current views,
which are subject to risks and uncertainties including, but not
limited to, anticipated financial and operating results, plans and
objectives that are not historical in nature. These statements may
be identified by words such as “believe,” “expect,” “may,”
“should,” “will” and similar expressions. Factors that could cause
actual results to differ materially from those expressed or implied
include: disruption caused by health epidemics, such as the
coronavirus outbreak, competition in the industries in which Green
Plains operates; commodity market risks, financial market risks;
counterparty risks; risks associated with changes to federal policy
or regulation, including changes to tax laws; risks related to
closing and achieving anticipated results from acquisitions and
disposals. Other factors can include risks associated with Green
Plains’ ability to realize higher margins anticipated from the
company’s high protein feed initiative or to achieve anticipated
savings from Project 24 and other risks discussed in Green Plains’
reports filed with the Securities and Exchange Commission.
Investors are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date of this
news release. Green Plains assumes no obligation to update any such
forward-looking statements, except as required by law.
Green Plains Inc.
ContactsInvestors: Phil Boggs | Senior
Vice President, Investor Relations | 402.884.8700 |
phil.boggs@gpreinc.comMedia: Lisa Gibson |
Communications Manager | 402.952.4971 | lisa.gibson@gpreinc.com
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