Press release
Green Plains Announces Fagen as Exclusive Construction Partner for Ultra-High Protein Buildout
OMAHA, Neb., June 17, 2021 (GLOBE NEWSWIRE) -- Green Plains Inc. (NASDAQ:GPRE) today announced it has selected Fagen, Inc. as the general contractor to
About this update from Green Plains, Inc.
[{"type":"text","content":"OMAHA, Neb., June 17, 2021 (GLOBE NEWSWIRE) -- Green Plains Inc. (NASDAQ:GPRE) today announced it has selected Fagen, Inc. as the general contractor to construct and install Fluid Quip Technologies’ MSC™ system for its biorefining platform. This technology represents the cornerstone of Green Plains’ transformation into a leading global ag tech company focused on sustainable, value added products. This exclusive partnership complements Green Plains’ technology with a world class construction company, advancing the execution of its 2024 transformation plan. Furthermore, this partnership will facilitate marketing of the MSC™ technology solution to potential partners across the industry. “Selecting Fagen to complete the construction of MSC technology across our platform is another pivotal milestone in delivering on our 2024 objectives,” said Todd Becker, president and chief executive officer of Green Plains. “Fagen is the premier engineering and construction firm in the biorefining space with an unrivaled history as a high quality, reliable construction partner capable of large scale, duplicative and complex project management. When combined with the innovative technology from Fluid Quip, we believe we have created a world class partnership to deliver on the expansion of Ultra-High Protein across our platform by 2024.” Construction on the Obion, Mount Vernon and Central City locations will begin over the next several weeks with each facility being completed over a 9 – 12 month time frame. Construction at the Madison and Superior locations is expected to begin later this year and the four remaining facilities are anticipated to begin construction in 2022. Upon completion, Green Plains’ anticipated annual Ultra-High Protein production capacity will be approximately 600,000 tons with protein concentrations of 50% or greater. Renewable corn oil capacity is also expected to increase by 50% as a result of the MSC™ technology. “We are excited to work with Green Plains and Fluid Quip on implementing their leading technology portfolio in Ultra-High Protein, renewable corn oil and clean sugar, helping them create the biorefinery platform of the future,” said Evan Fagen, chief operating officer of Fagen. “This exclusive partnership enhances execution of these projects across their platform and opens the door to additional industry partnership ...