OMAHA, Neb., Feb. 1, 2012 (GLOBE NEWSWIRE) -- BioProcess Algae LLC and Green Plains Renewable Energy, Inc. (Nasdaq:GPRE) announced that they will start construction of BioProcess Algae's five acre production facility at Green Plains' ethanol plant in Shenandoah, Iowa. The project will be comprised of a combination of at scale Grower HarvesterTM bioreactors and a plant to further dewater and process the algae into finished product. The horizontal reactors have been successfully running outdoors since the fall of 2011 and this marks the next step in the project to commercialize algae focused on markets for animal feed, fuel, omega-3 products and high-value nutraceuticals.
"After a successful rollout of the horizontal reactors at full commercial scale, we are eager to move forward with this project producing meaningful quantities of dried wholesale algae for use in products now," said Todd Becker, President and Chief Executive Officer of Green Plains. "This new phase will mark the successful transition to a larger footprint located adjacent to our Shenandoah, Iowa ethanol plant which will provide the basic inputs the bioreactors need: carbon dioxide, warm water and heat."
"Our technology has successfully brought algae directly into the sunlight using limited inputs while increasing growth rates," says Tim Burns, Chief Executive Officer of BioProcess Algae. "We continue to work with potential strategic customers including major food, animal feed, energy and pharmaceutical companies around the world," continued Burns. "Often times, this is the first access they have had to larger quantities of wholesale algae. Our goal is to produce algae in a cost effective manner that can be used as the customer sees fit."
BioProcess Algae Grower Harvester bioreactors located in Shenandoah, Iowa have been continually running since their Phase I launch in October 2009.
About BioProcess Algae, LLC
BioProcess Algae provides a carbon capture technology for low cost, high quality feedstock production for nutrition, animal feeds and biofuels. BioProcess Algae is a joint venture among CLARCOR Inc. (NYSE:CLC), a global provider of filtration products, BioHoldings LTD, a clean-tech research & development company, Green Plains Renewable Energy, and the international renewable energy group NTR plc, which builds and runs green energy and resource-sustaining businesses.
About Green Plains Renewable Energy, Inc.
Green Plains Renewable Energy, Inc. (Nasdaq:GPRE) is North America's fourth largest ethanol producer. The Company markets and distributes approximately one billion gallons of renewable motor fuel on an annual basis, including 740 million gallons of expected production from the Company's nine ethanol plants located throughout the U.S. Green Plains owns and operates grain handling and storage assets and provides complementary agronomy services to local grain producers through its agribusiness segment. Green Plains owns BlendStar LLC, a biofuels terminal operator with locations in the southern U.S. Green Plains is a joint venture partner in BioProcess Algae LLC, which was formed to commercialize advanced photo-bioreactor technologies for the growing and harvesting of algal biomass.
Safe Harbor
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such statements are identified by the use of words such as "anticipates," "believes," "estimates," "expects," "goal," "intends," "plans," "potential," "predicts," "should," "will," 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 and other industries in which the Company competes, commodity market risks, financial market risks, counter-party risks, risks associated with changes to federal policy or regulation, risks related to closing and achieving anticipated results from acquisitions, risks associated with the Company's joint venture to commercialize algae production and commercialize algae-related products and technology as well as market acceptance of such products, the growth potential of the algal biomass industry, 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 year ended December 31, 2010, as amended, 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 the Company's 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.