NTR’S North American Ethanol Business Announces $9 Million Investment In Fuel Terminal Operator Blendstar LLC
NTR plc’s North American based ethanol business, Green Plains Renewable Energy, Inc (NASDAQ: GPRE), has successfully completed a $9 million investment in Houston-based biofuel terminal operator Blendstar, LLC. The investment provides Green Plains with a majority stake of 51% in the business. Blendstar currently operates terminal facilities across six cities throughout Southern USA states, which together have splash blending and full-load terminal throughput capacity of over 200 million gallons per year. Working with Blendstar, Green Plains expects to produce, market and/or distribute approximately 635 million gallons of ethanol annually.
“Through Blendstar, we are making an important investment in downstream biofuel enterprises,” said Todd Becker, Chief Executive Officer, Green Plains. “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.”
Commenting on the investment, Jim Barry, Chief Executive, NTR plc said: “This investment solidifies Green Plains’ position throughout the ethanol value chain, beginning in the farm fields and ending with the fuel retailers utilising Blendstar’s blending facilities.”
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About NTR plc
NTR plc is a leading international developer and operator in renewable energy and sustainable waste management. It is Green Plains’ largest shareholder. Founded in 1978, NTR has evolved from being a developer and operator of infrastructure in Ireland to an international developer and operator of renewable energy (wind, solar and bio-ethanol), and sustainable waste management businesses in the USA, UK, and Ireland. The company employs over 4,100 people and has a market capitalization in excess of €596m.
About Green Plains
Green Plains, based in Omaha, Nebraska, has the strategy to become a vertically-integrated, low-cost ethanol producer. Green Plains’ ethanol segment operates ethanol plants in Iowa, Indiana and Tennessee with a combined expected annual ethanol production capacity of 330 million gallons. Green Plains’ agribusiness segment operates grain storage facilities and complementary agronomy, feed, and fuel businesses. Green Plains has grain storage capacity of approximately 22 million bushels.
About Blendstar LLC
Blendstar, LLC is a Houston-based terminal operator that specifically focuses on serving the biofuel industry. Blendstar currently has terminals with a total annual throughput capacity of more than 200 million gallons per year. Blendstar’s goal is to provide end users and suppliers with a reliable method to blend ethanol in markets that do not currently have access to ethanol supplies. These facilities accept deliveries by both rail and truck, and offer the same quality controls, safety, security, and back office functionality of a major petroleum terminal.