Green Plains Renewable Energy will acquire two former VeraSun ethanol plants located in Nebraska, to make it the fourth largest ethanol producer in the U.S.
Addition of these plants will increase the Company’s ethanol production capacity by 45%, from 330 million to 480 million gallons per year.
“The acquisition of the plants in Central City and Ord lowers our cost of production and improves our ability to compete in the industry,” said Todd Becker, Green Plains’ President and Chief Executive Officer. “These plants are in excellent locations. Within the 14 contiguous counties surrounding Ord and Central City, there are over 300,000 cattle on feed and approximately 300 million bushels of corn grown annually.”
Sale of the facilities are expected to close in June and Green Plains plans to have the plants fully operational within 30-60 days of the sale closing.