Bank OZK Breaks Ground on Solar Power Plant in Arkansas

As part of its sustainable energy initiative, Bank OZK broke ground recently on its Arkansas-based $6-million solar power plant. Once complete, the 4.8-megawatt array will produce enough electricity to power the Bank’s new corporate headquarters in Little Rock and up to 40 Bank OZK locations throughout the state. Currently, it is the largest renewable energy investment by a financial services company in the state of Arkansas. 

 “An industry innovator, Bank OZK has a bold vision for the future, which includes a strong commitment to sustainable and clean energy,” said Tim Hicks, Chief Credit and Administrative Officer at Bank OZK. “This solar power plant will allow us to reduce our carbon footprint by 160,000 tons over the next 30 years.” 

 The Arkansas Public Service Commission and Federal Deposit Insurance Corporation approved the Bank’s plans for the solar power plant in March 2021. Scenic Hill Solar, LLC, of North Little Rock, Arkansas, will oversee construction of the 11,000-panel, single-axis array. The facility is expected to generate more than 8.1 million kilowatt-hours annually. Located in Stuttgart, Arkansas, it will be the state’s third-largest commercial solar facility dedicated to a private sector customer.

Green Plains Enters into Agreement to Sell Ord, Nebraska Ethanol Plant

Green Plains Inc. announced recently that its subsidiary, Green Plains Ord LLC, has entered into an asset purchase agreement with GreenAmerica Biofuels Ord LLC to sell its 65 million gallon ethanol plant located in Ord, Neb. for $64 million, plus working capital.

“The sale of our Ord, Nebraska plant is another step in our overall “fully funded” strategy to rapidly construct and implement our Ultra-High Protein production technology across our biorefining platform,” said Todd Becker, president and chief executive officer. “We believe this sale enables us to create additional value for our shareholders by efficiently deploying capital to support our transformation through technological advancements in proteins, sustainable corn oils and clean sugars acquired in the recently announced Fluid Quip Technologies transaction.”

Green Plains Ord LLC has also entered into an asset purchase agreement with Green Plains Partners LP and its affiliates (Partnership) to acquire the storage and transportation assets and the assignment of railcar leases associated with the Ord ethanol plant for $27 million, which will be utilized to pay down the Partnership’s debt. In addition, the storage and throughput services agreement will be amended to adjust the minimum volume commitment to 217.7 million gallons per quarter and to extend the maturity date by one year to June 30, 2029.

“We believe the value achieved from the sale of the Ord facility begins to demonstrate that we remain undervalued relative to the potential of our portfolio. As we execute on our total transformation strategy, adding additional innovative, sustainable and clean products produced at our biorefineries through the application of these technologies, we believe our value will continue to increase,” concluded Becker.

Green Plains will record a pre-tax gain of approximately $37 million related to the transaction. Both transactions are anticipated to close within the next 45 days. The purchase agreements are subject to customary closing conditions and contain ordinary and customary representations, warranties and indemnification obligations.

Ocean Park acted as the exclusive financial advisor to Green Plains and Sidley Austin LLP served as legal advisor to GreenAmerica Biofuels Ord LLC in connection with the transaction.

U.S. wind energy production tax credit extended through 2021

The timing and magnitude of wind turbine installations in the United States are often driven by tax incentives. The U.S. production tax credit (PTC), a per-kilowatthour (kWh) credit for electricity generated by eligible renewable sources, was first enacted in 1992 and has been extended and modified in the years since. At the end of December 2020, Congress extended the PTC at 60% of the full credit amount, or $0.018 per kWh ($18 per megawatthour), for another year through December 31, 2021. In 2020, the credit was 60% of the full credit amount. Under the new PTC legislation, qualifying wind projects must begin construction by December 31, 2021.

Based on previous PTC legislation, wind projects that started construction in 2016 qualify for 100% of the full credit amount. After 2016, the percentage decreases by 20% per year from 2017 through 2019; facilities starting construction in 2019 qualify for 40% of the full credit amount.

Wind projects can receive the tax credit based on either the year the project begins operation or the year in which 5% of the total capital cost for the project has been spent and construction has begun. This 5% down method, known as safe harboring, allows wind developers to receive the PTC at a given year’s level, provided they complete construction no more than four calendar years after the calendar year that construction began.

To help address construction delays related to COVID-19, the Internal Revenue Service (IRS) issued guidance in May 2020 allowing projects that began construction in 2016 or 2017 an additional year for construction, giving them five years to come online instead of four.

U.S. wind capacity totaled 112 gigawatts (GW) as of November 2020, the latest data available in the U.S. Energy Information Administration’s (EIA) Electric Power Monthly. According to plans announced by project developers and grid operators and compiled in EIA’s Preliminary Monthly Electric Generator Inventory, another 10 GW was expected to be added in December, bringing the annual 2020 total to 21 GW. December’s planned additions will be confirmed as operational in EIA’s survey results released in late February.

If all planned additions are confirmed, 2020 will be a record year for wind installations, far surpassing the previous record of 13.2 GW added in 2012. The record level of annual capacity additions in 2020 was driven by developers scheduling project completion in time to qualify for the full-valued PTC from 2016. Wind capacity additions tend to be relatively high in years when the PTC is set to expire, such as in 2012 and 2020.

In 2021, project developers expect 12.2 GW of wind capacity to come online, of which they expect 7.2 GW (59%) to come online in December. December has historically been the month with the most wind capacity additions.

Source: EIA

New Research Shows That Corn Ethanol Emits 46% Less Greenhouse Gases Than Gasoline

Research from Environmental Health & Engineering, Inc. (EH&E) shows that greenhouse gas (GHG) emissions for ethanol, a biofuel made from corn, are 46% lower than gasoline. Conventional wisdom based on a prior analysis done by EPA had pegged the difference to only 20%. EH&E's topical review of the latest science shows that this renewable biofuel is less carbon intensive and more climate-favorable than previously thought. "This research provides an up-to-date accounting of corn starch ethanol's GHG profile in comparison to that of gasoline refined from crude oil," says EH&E Chief Science Officer David MacIntosh. "The results of this research are timely for the scientific, public health, legislative, and business communities seeking to establish a net zero carbon economy while addressing related technological, political and economic challenges."

The research delivers a transparent, state-of-the-science assessment on life cycle analyses of corn starch ethanol in the U.S. EH&E researchers reached their conclusions after critically reviewing earlier life cycle analysis modeling and data, and consulting with more than two dozen experts from government, academia, and nonprofits. Their findings uncovered significant reductions in carbon intensity made possible by advances in farming technology, soil conservation practices, and production of animal feed as a by-product of making ethanol.

EH&E's assessment also shows that carbon emissions from converting prior land uses to corn farming make up only 3.9% of the biofuel's total GHG emissions--a much smaller amount than generally recognized. This finding stems directly from the latest models and data that consider both the economic value and productivity of land to estimate release of carbon when land is put into corn production. The research's findings suggest that substitution of conventional gas with corn ethanol could deliver a net carbon sink over a much shorter period than previously estimated.

Today, corn ethanol accounts for about 10% of liquid fuel sold at gasoline stations in the U.S. and has the potential to account for a greater share of liquid fuel for transportation. The findings provide much-needed data for decisions and policies on the future role of biofuels to address climate change as well as opportunities for continued reduction of carbon emissions across the life cycle of corn ethanol.

DuPont Launches New High Performance Yeasts for U.S. Ethanol Market

DuPont Nutrition & Biosciences today announced the launch of the SYNERXIA® Gemstone Collection, the next advancement in high-performance yeasts. The new collection from the XCELIS® platform includes SYNERXIA® SAPPHIRE and SYNERXIA® RUBY – two innovative, high-yield yeasts designed for the unique needs of ethanol producers.

This marks the first time that DuPont has co-launched two high-yield yeasts. SYNERXIA® SAPPHIRE brings the most powerful combination of yield, robustness and enzyme expression in a yeast. It offers enhanced ethanol yield increase paired with revolutionary thermotolerance and infection robustness in fermentation and has been genetically engineered to withstand harsh stressors, while still finishing fermentation with ultra-low DP1.

SYNERXIA® SAPPHIRE has been engineered to provide a strong ethanol yield increase compared to conventional yeast and powers through fermentation finishing clean when ethanol producers encounter hot fermentations or severe infections. The product also expresses enough glucoamylase to displace up to 80 percent of the glucoamylase injected to fermentation. The yeast’s strong expression of the powerful glucoamylase offers reduced residual starch for many producers.

SYNERXIA® RUBY is the highest yielding yeast available today from the XCELIS® platform, delivering exceptional performance to producers via a patented PKL pathway and additional targeted genetic modifications. It produces less acetic acid compared to SYNERXIA® THRIVE GX and enables up to 65 percent glucoamylase reduction.

“The SYNERXIA® Gemstone Collection will give ethanol producers flexibility in responding to their individual plant needs while ensuring high ethanol yield and minimal waste,” said Hans Foerster, global marketing director, DuPont Biorefineries. “These new yeasts represent a new standard in high-yield yeasts on the market for ethanol producers and is just the latest in DuPont’s innovative approach to ethanol solutions through the XCELIS® platform.”

Iowa ethanol production fell 12 percent in 2020

Compared to 2019, Iowa ethanol production fell 500 million gallons, or 12 percent, in 2020 as a result of dramatic demand destruction resulting from the COVID-19 pandemic, trade disputes around the globe, and illegal exemptions granted from the Renewable Fuel Standard (RFS). Producing only 3.7 billion gallons, 2020 was the second year in a row that Iowa ethanol production dropped following 2018’s record of 4.35 billion gallons.

Iowa Renewable Fuels Association Executive Director Monte Shaw called on state and federal leaders to take action to grow demand in 2021.

“While a pandemic is unpredictable and trade disputes are difficult to resolve, there are steps that our leaders can take today to begin to heal the demand destruction done to Iowa’s ethanol producers,” Shaw said. “President Biden can instruct his EPA to properly enforce the RFS as Congress intended. Congress has the opportunity to ensure that any legislation they consider to reduce emissions is technology-neutral and provides biofuels — the only tool in our toolbox ready to reduce carbon emissions on a grand scale today — a level playing field.

“We also believe that Midwestern states should not cede the fuel policy debate to the East and West coasts. We are seeing aggressive attempts on both coasts to ignore science and push low carbon biofuels out of the picture in favor of electric vehicle mandates. Here in Iowa, we will work with Governor Kim Reynolds and the legislature to continue to create growth opportunities for biofuels use.”

Source: Iowa Renewable Fuels Association

Iowa Biodiesel Production Up In 2020

Although only nine of Iowa’s 11 biodiesel plants operated in 2020, they still managed to bump up production to 351 million gallons despite market challenges presented by the COVID-19 pandemic and Renewable Fuel Standard (RFS) exemptions. 2020 proved to be the 2nd highest year of biodiesel production in Iowa history behind 365 million gallons in 2018. Plenty of room for growth remains given Iowa’s over 400-million-gallon production capacity.

Iowa Renewable Fuels Association Executive Director Monte Shaw credited the bump in production to the reinstatement and long-term extension of the federal biodiesel blenders tax credit in late 2019, which provided a boost for higher biodiesel blends.

“The long-term extension of the biodiesel blenders tax credit gave Iowa biodiesel producers the market certainty to be successful even in a very uncertain year,” Shaw said. “COVID-19 did not hurt the diesel market the same way it gutted gasoline demand and, as result, production went up. Hopefully Iowa can take another step forward and utilize even more of our biodiesel capacity if there is proper implementation of the RFS in 2021.”

Iowa biodiesel production is expected to account for roughly 20 percent of total U.S. biodiesel production in 2020.

Soybean oil continued to be the feedstock of choice for the majority of Iowa biodiesel production, making up over 85 percent. Corn oil was second at just over eight percent. Animal fat, canola oil, and used cooking oil made up the rest of the feedstock used by Iowa biodiesel producers.

Source: Iowa Renewable Fuels Association

Keystone XL Commits To Become The First Pipeline To Be Fully Powered By Renewable Energy

TC Energy Corporation announced a new sustainable energy initiative for the Keystone XL Project. The company will achieve net zero emissions across the project operations when it is placed into service in 2023 and has committed the operations will be fully powered by renewable energy sources no later than 2030. This announcement comes after an extensive period of study and analysis, and as part of the company’s ongoing commitment to sustainability, thoughtfully finding innovative ways to reduce greenhouse gas (GHG) emissions, while providing communities with reliable energy needed today.  

“Since it was initially proposed more than 10 years ago, the Keystone XL project has evolved with the needs of North America, our communities and the environment,” said Richard Prior, President of Keystone XL. “We are confident that Keystone XL is not only the safest and most reliable method to transport oil to markets, but the initiatives announced today also ensures it will have the lowest environmental impact of an oil pipeline in terms of greenhouse gas emissions. Canada and the United States are among the most environmentally responsible countries in the world with some of the strictest standards for fossil fuel production.”

Following the successful implementation of this initiative, TC Energy expects to be among the top 10 corporate renewable sponsors in North America. Additionally, this is expected to eliminate more than three million tonnes of CO2 equivalent emitted every year in GHG emissions – the equivalent of approximately 650,000 cars taken off the road.

As part of this announcement, TC Energy is expected to spur an investment of over US$1.7 billion in communities along the Keystone XL footprint creating approximately 1.6 gigawatts of renewable electric capacity, and thousands of construction jobs in rural and Indigenous communities.

As part of its continued commitment to working with union labor in the U.S. and Canada, Keystone XL has also signed a Memorandum of Understanding (MOU) with North America’s Building Trades Unions (NABTU) to work together on the construction of TC Energy owned or sourced renewable energy projects.

“With our continued commitment to safety, creating family-sustaining, middle class jobs, NABTU is pleased to announce our agreement with TC Energy to ensure building trades labor constructs renewable energy projects along the entire Keystone XL route,” said NABTU President Sean McGarvey. “This will help to meet KXL’s commitment to achieving net zero emissions by 2023, create the power capacity required to operate the pipeline from renewable energy sources and create thousands of jobs between now and 2030 – jobs for the highly skilled women and men of the building trades.”

By implementing this initiative, Keystone XL will eliminate the impact of GHG emissions from the project’s operations. Additionally, Keystone XL will allow responsibly produced Canadian oil to be safely transported into the United States from many producers who have set their own net zero emissions goals. Canadian Oil Sands producers have cut emissions intensity by 21 percent in recent years and they are expected to fall another 27 percent by 2030.

Net zero emissions will be achieved when the pipeline is placed into service by purchasing renewable energy from electricity providers; if not available, Keystone XL will instead purchase renewable energy credits (REC) or carbon offsets. The company is committing that additional renewable sources along the pipeline’s route will be developed to power Keystone XL’s operations by 2030, phasing out any potential REC or carbon offsets and meeting power demand with new renewable electricity generation.

“At TC Energy, we are firmly committed to being part of the transition to the next generation of energy sources. Climate change is a serious issue and we have an important role to play in managing GHG emissions while balancing the need for safe, reliable and economic energy,” said François Poirier, President and Chief Executive Officer of TC Energy. “Today’s announcement is directly in line with our goal of doing what’s right for our communities and signifies Keystone XL’s commitment to strengthen efforts to create a sustainable future for all.”

Investment spurred in renewable power resources is expected to add to the more than $100 million of property taxes Keystone XL will generate annually for local governments along its route, supporting critical economic recovery and growth.

U.S. Patent Awarded and Exclusively Licensed to Aemetis Enabling Launch of “Carbon Zero” Production Plants

Aemetis, Inc. announced recently that its exclusively licensed technology for the production of below zero carbon renewable fuel was awarded U.S. Patent No. 10907184 (to be published February 2, 2021), enabling the launch of Aemetis “Carbon Zero” production plants to commercialize the technology.  Using patented technology exclusive to Aemetis for agricultural waste wood feedstock, the Carbon Zero plants are integrated with existing Aemetis production facilities to produce energy dense renewable fuels using renewable energy and below zero carbon intensity waste feedstocks.  

The Aemetis Carbon Zero production plants are designed to convert below zero carbon feedstocks (waste wood and ag wastes) and renewable energy (solar, renewable natural gas, biogas) into energy dense liquid renewable fuels.  Aemetis expects that such renewable fuels, when used in hybrid electric vehicles or other vehicle engines, will have a “below zero carbon” greenhouse gas footprint across the entire lifecycle of the fuel based on the Argonne National Laboratory’s GREET model, the pre-eminent science-based lifecycle analysis measurement tool. 

“We are naming these projects ‘Carbon Zero’ to reflect our mission to reduce greenhouse gases. Wood is partially comprised of carbon dioxide (CO2) from the air.  Agricultural waste wood has a below zero carbon intensity as a fuel by avoiding greenhouse gas emissions, since waste wood is usually burned in the field or breaks down into harmful methane emissions,” stated Eric McAfee, Chairman and CEO of Aemetis.

“By combining below zero carbon waste wood with zero carbon renewable energy obtained from solar, hydroelectric and biogas sources, Aemetis is transforming these sources of renewable energy into zero carbon renewable fuels that work with existing engines, as well as range extender generators used in electric cars or trucks as long-haul and local delivery vehicles adopt electric drivetrains to improve emissions, fuel efficiency and performance,” McAfee noted.

The first Aemetis Carbon Zero production plant — “Carbon Zero 1” — is planned for the 140-acre Riverbank Industrial Complex in Central California, a former Army ammunition production facility with 710,000 square feet of existing production buildings.

The Carbon Zero 1 plant will extract sugars from waste wood and then process the sugar into renewable fuel at the existing nearby Aemetis 65 million gallon per year plant near Modesto, California.  This process is expected to reduce the amount of corn used in biofuel production, provide a 90% reduction in feedstock cost, and significantly increase the value of the biofuel by significantly reducing its carbon intensity.  After an initial production demonstration phase, the Carbon Zero 1 plant is expected to ramp up capacity to produce 10% of the sugar feedstock used in the existing Aemetis 65 million gallon per year biofuel plant, with additional expansion in future phases. 

The Carbon Zero 1 project and energy efficiency upgrades to the Aemetis plant include funding and other support from the USDA, the US Forest Service, the California Energy Commission, the California Department of Food and Agriculture, and PG&E.

Pacific Ethanol Completes Name Change to Alto Ingredients, Inc.

 

Pacific Ethanol, Inc., a leading producer of specialty alcohols and essential ingredients, has changed its corporate name to Alto Ingredients, Inc., effective January 12, 2021. The company’s name change will be reflected on The Nasdaq Stock Market on January 14, 2021, and the company’s stock will begin trading under a new ticker symbol, ALTO, starting February 1, 2021.

CEO Mike Kandris said, “We have chosen our new corporate name and brand to represent our many high-quality products, which our customers incorporate into a range of vital finished goods that touch people’s everyday lives, from cleaning solutions to pharmaceuticals. We are capitalizing on our unique capability to manufacture high-grade alcohols for the food, beverage, health, and ingredients markets, and to process corn into high protein feed, pet food, and renewable fuel. As we move forward under our new Alto Ingredients brand, we remain committed to our goal of delivering the highest levels of integrity, purity, and quality to create value for our customers, partners, and shareholders.”

Gevo Announces Net-Zero 1 Project

Gevo, Inc. announces the concept of Net-Zero Projects for the production of energy dense liquid hydrocarbons using renewable energy and Gevo’s proprietary technology. The concept of a Net-Zero Project is to convert renewable energy (photosynthetic, wind, renewable natural gas, biogas) from a variety of sources into energy dense liquid hydrocarbons, that when burned in traditional engines, have the potential to achieve net-zero greenhouse gas (GHG) emissions across the whole lifecycle of the liquid fuel: from the way carbon is captured from the atmosphere, processed to make liquid fuel products, and including the end use (burning as a fuel for cars, planes, trucks, and ships). Gevo announces that its project currently planned to be constructed at Lake Preston, South Dakota will be the first Net-Zero Project and will be named “Net-Zero 1.” Gevo expects that Net-Zero 1 would have the capability to produce liquid hydrocarbons that when burned have a “net-zero” greenhouse gas footprint.

Net-Zero 1 is currently expected to have a capacity of 45MGPY of hydrocarbons (for gasoline and jet fuel, based on current take-or-pay contracts), to produce more than 350,000,000 pounds per year of high protein feed products for use in the food chain, to produce enough renewable natural gas to be self-sufficient for the production process needs, and also to generate renewable electricity with a combined heat and power system. Net-Zero 1 is also expected to utilize wind energy.

Because of the low-carbon footprint feedstocks, the sustainable agricultural practices used to produce feedstock, and the use of renewable energy for the production processes, much of which is expected to be generated on-site, the hydrocarbon fuel products produced at Net-Zero 1 have the potential to achieve net-zero greenhouse gas emissions as measured across the whole of the lifecycle based on Argonne National Laboratory’s GREET model, the pre-eminent science-based lifecycle analysis model. The GREET model takes into account emissions and impacts "cradle to cradle" for renewable resource-based fuels including: inputs and generation of raw materials, agriculture practices, chemicals used in production processes of both feedstocks and products, energy sources used in production and transportation, and end fate of products, which for fuel products is usually burning to release energy.

The capital cost for Net-Zero 1 is projected to be on the order of $700M including the hydrocarbon production and related renewable energy infrastructure which includes anaerobic digestion to produce biogas to run our plant and generate some electricity on-site. Citigroup is assisting Gevo in raising the necessary capital for Net-Zero 1.

“This is not a new project but rather the first of the projects that we have been working on with Citigroup to get financed. We are naming our future projects Net-Zero to make clear the mission we are on to reduce GHG emissions. By using carbon from the air as our raw material source with its inherent low-carbon footprint, sustainable agriculture, a combination of renewable energy obtained from photosynthesis, wind, and biogas, we see that it is possible to transform renewable energy into liquid hydrocarbon fuels that work with combustion engines typical of cars, planes, and trucks with the added benefit that these fuels have a net-zero carbon footprint across the whole lifecycle. Think about it: it is conceivable to eliminate tailpipe emissions from cars, planes and trucks on a net GHG basis, while leveraging existing cars, planes, and trucks on a full 'cradle to cradle' GHG basis. Our Net-Zero 1 Project isn’t just about capturing renewable energy and carbon, and transforming it into liquid renewable energy; it’s also about generating enormous quantities of protein, and nutrition for the food chain. The high protein feed would be low-carbon footprint too—and we are happy to help farmers raise beef, pigs, chicken, and dairy in a way that lowers GHG emissions. We’ve got work to do to make it all happen,” said Dr. Patrick R. Gruber, Chief Executive Officer, Gevo. “We believe that there will be demand for additional Net-Zero projects in the future,” Gruber continued.

Green Plains and Ospraie Management Acquire Majority Stake in Fluid Quip Technologies

 Green Plains Inc. announced recently that it had acquired a majority interest in Fluid Quip Technologies (Fluid Quip) in a joint transaction led by Ospraie Management LLC (Ospraie). The acquisition capitalizes on the core strengths of the partners to develop and implement proven, value-added agriculture, food and industrial biotechnology systems, and to rapidly expand installation of Ultra-High Protein production across Green Plains’ facilities in parallel with offering these technologies to partnering biofuel facilities. The terms of the transaction were not disclosed. As part of the transaction, Ospraie acquired 550,000 warrants for Green Plains stock (each warrant equal to one share of stock) with a strike price of $22 per share.

“We believe the Fluid Quip IP portfolio has many game changing valuable technologies that the world needs right now,” said Dwight Anderson, managing partner of Ospraie. “Whether it’s their clean sugar patent suite that creates new, low cost carbohydrate sources for potential use in synthetic biology, food production, or industrial biochemical fermentation, or their patent library on creating high protein ingredients for pet food, aquaculture and other high value feed products, this all improves the environmental impact of feed solutions using inputs from farmers. Sustainable protein solutions are healthier, more efficient and less harmful to the global food system including, reducing the carbon footprint of production agriculture.”

“The partnership between Fluid Quip, Ospraie, and Green Plains will accelerate our path to our 2023 transformation from a commodity-processing business to a value-add agriculture, food technology and industrial biotechnology company focusing on creating diverse, non-cyclical, higher margin products while improving the environmental and carbon footprint of food and feed,” said Todd Becker, president and chief executive officer of Green Plains. “This partnership will help advance the installation of Ultra-High Protein technology across our platform, significantly increase our renewable corn oil production to participate in the growing low carbon fuel markets and the renewable diesel value chain, further drive reduction of our operating expenses and significantly expand our product offerings. This transaction is a vital step in our evolution as it enhances our intellectual property portfolio, deepens our engineering expertise and maximizes operational efficiencies through powerful technology capabilities, while achieving significant financial return opportunities for our shareholders.”

“This transaction offers a unique opportunity to bolster Fluid Quip’s growth trajectory and financial strength through Ospraie’s and Green Plains’ expanded footprint, industry experience and worldwide relationships,” said John Kwik, partner of Fluid Quip Technologies. “We will now be able to accelerate the development of revolutionary technologies that will drive transformational change to how agricultural products get used. With growing interest in the protein space, this partnership will leverage strong capabilities to help defend and protect the Fluid Quip IP portfolio from infringement. Finally, we will continue the implementation of our market leading flex-plant patented technologies, value added protein technologies and bolt-on processes that increase plant efficiencies for Fluid Quip’s large global customer base as well.”

“When you combine all of our partnerships into one innovation and financial engine with the rapid advancements that are already taking place, we believe the results will be truly revolutionary,” stated Becker. “Through this combination, we believe we are squarely positioned to deliver unmatched value as a leader in sustainable, nutritious products created through fermentation of renewable resources using a full suite of world-class technologies.”

Over the last two years, Green Plains has made strategic investments to significantly transform the business from an ethanol and commodities processor, to a leading technology focused, innovative producer of sustainable, value-added ingredient solutions. The partnership will retain all Fluid Quip employees.