SOURCE: Green Plains Renewable Energy

Green Plains Renewable Energy

October 01, 2009 09:00 ET

Green Plains Renewable Energy Expands Third-Party Marketing Platform

OMAHA, NE--(Marketwire - October 1, 2009) - Green Plains Renewable Energy, Inc. (NASDAQ: GPRE) announces that its subsidiary, Green Plains Trade Group LLC, has entered into an agreement to provide third-party ethanol marketing services to Lincolnway Energy, LLC of Nevada, Iowa. With the addition of Lincolnway, Green Plains now provides ethanol marketing services to four third-party producers with expected operating capacity of 360 million gallons per year. The Lincolnway Energy facility, which has been operational since May 2006, has an expected production capacity of approximately 55 million gallons of ethanol per year.

"The addition of Lincolnway Energy as a customer adds scale, volume and critical mass to our third-party marketing and distribution platform," said Todd Becker, President and Chief Executive Officer. "Combined with our own production, we now market 840 million gallons annually, or approximately 8% of the U.S. supply of ethanol. Our distribution capability allows us to serve more customers in more markets, delivering ethanol when and where they want it."

About Lincolnway Energy, LLC

Lincolnway Energy was founded in 2004. The Company operates a dry mill fuel ethanol facility in Nevada, Iowa with an annual expected production capacity of 55 million gallons. The Company's mission is to produce clean renewable energy, maintain a safe and rewarding place to work and maximize shareholder value. The Company is owned by approximately 940 Iowa residents, over 40% of which reside in Polk and Story Counties.

About Green Plains Renewable Energy, Inc.

Green Plains Renewable Energy, Inc. (NASDAQ: GPRE) 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 its affiliated plants as well as four third-party ethanol producers with expected operating capacity of 360 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.

Safe Harbor

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 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.

Contact Information

  • Company Contact:
    Jim Stark
    Vice President - Investor Relations
    Green Plains Renewable Energy, Inc.
    (402) 884-8700

    Investor Contact:
    John Baldissera
    BPC Financial Marketing
    (800) 368-1217