Press release
Ospraie Management and Green Plains Acquire Majority Stake in Fluid Quip Technologies
Joint transaction led by Ospraie Management LLC. The partnership will immediately leverage their combined technologies and relationships to produce and market
About this update from Green Plains, Inc.
[{"type":"text","content":"Joint transaction led by Ospraie Management LLC. The partnership will immediately leverage their combined technologies and relationships to produce and market sustainable ingredients with increasing protein concentration levels and nutritional characteristics for pet food, aquaculture and animal feed markets globally.The partnership will also help accelerate the installation of Ultra-High Protein technology across Green Plains’ platform, amplify its production capabilities and further expand product offerings to accelerate the growth of Optimal Aquafeed’s precision aquaculture solutions, leveraging previously announced partnerships with Novozymes and Hayashikane.Fluid Quip’s solutions have been deployed worldwide including full technology design, process optimization, yield improvement technologies, new co-product technologies and turnkey capital projects. In addition to protein technologies, the company has launched seven new ag-technology systems in the last seven years that are being used in corn dry milling and bio-chemical production facilities today.Green Plains will look to deploy a number of Fluid Quip’s advancing technologies in sustainable high proteins, renewable corn oil and Clean Sugar Technology (CSTTM) throughout its platform beginning in 2021.The partnership will enhance Fluid Quip’s ability to provide premier technologies and engineering services while accelerating technology development and deployment across biofuels and biochemical facilities worldwide. OMAHA, Neb., Jan. 05, 2021 (GLOBE NEWSWIRE) -- Green Plains Inc. (NASDAQ:GPRE), today announced that it has acquired a majority interest in Fluid Quip Technologies (Fluid Quip) in a joint transaction led by Ospraie Management LLC (Ospraie). The acquisition capitalizes on the core strengths of the partners to develop and implement proven, value-added agriculture, food and industrial biotechnology systems, and to rapidly expand installation of Ultra-High Protein production across Green Plains’ facilities in parallel with offering these technologies to partnering biofuel facilities. The terms of the transaction were not disclosed. As part of the transaction, Ospraie acquired 550,000 warrants for Green Plains stock (each warrant equal to one share of stock) with a strike price of $22 per share. “We believe the Fluid Quip IP portfolio has many game changing valuable...