Green Plains Renewable Energy (GPRE) To Begin Extracting Corn Oil At Ethanol Plants
Waste not, want not: Green Plains Renewable Energy just announced that they will begin extracting corn oil at its ethanol plants, a project the company expects to supplement its operating income with an additional $15 million to $19 million per year. Green Plains expects to have the technology in place at all of its plants by the first quarter of next year.
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In a press release, Todd Becker, President and Chief Executive Officer of Green Plains Renewable Energy, commented:
"Our objective is to continue to diversify our cash flows and to de-risk our overall platform. This project allows us to realize additional income streams from value-added co-products. The production of 75 million to 90 million pounds of corn oil per year will generate substantial recurring free cash flows and excellent returns on invested capital."
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