Green Plains Renewable Energy (GPRE) Acquires Majority Interest In BioFuel Terminal Operator

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08:51:28 am on January 22, 2009

Green Plains Renewable Energy has acquired a majority interest in Blendstar, LLC, a biofuel terminal operator from Houston, Texas. Green Plains Renewable Energy paid $9.0 million to Bioverda U.S. Holdings LLC in exchange for a 51% stake in Blendstar. Blendstar already has terminals in several cities, including Oklahoma City, Little Rock, Nashville, Knoxville, Louisville and Birmingham, and plans to build more in the near future.

Todd Becker, Green Plains Renewable Energy’s CEO, commented on the deal:

"Through Blendstar, we are making an important investment in downstream biofuel enterprises. The Blendstar platform allows customers to source, store and blend ethanol and biodiesel to meet growing demand, now and in the future. Green Plains will continue to be a Blendstar customer, and the relationship should benefit Green Plains’ growing third-party marketing business."

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