Green Plains Achieves 58% Protein Concentration Milestone
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Achieved Using Fluid Quip’s Proprietary MSC Protein Technology
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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. ContactsInvestors: Phil Boggs | Senior Vice President, Investor Relations | 402.884.8700 | firstname.lastname@example.orgMedia: Leighton Eusebio | Manager, Public Relations | 402.952.4971 | email@example.comProtein Sales: Walter Cronin | Chief Commercial Officer | 402.253.6027 | firstname.lastname@example.org
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