NTR’s Green Plains Renewable Energy, Inc. Reports Fourth Quarter and Year-End 2009 Results

February 22 2010

Results for the Fourth Quarter of 2009

• Net income of $23.1 million
• Diluted earnings per share of $0.91

Results for the Full Year of 2009

• Net income of $19.8 million
• Diluted earnings per share of $0.79

February 22, 2010 – NTR’s bio-ethanol business, Green Plains Renewable Energy, Inc.(NASDAQ: GPRE) today announced its financial results for the fourth quarter and full-year ended December 31, 2009. Net income attributable to Green Plains was $23.1 million, or $0.91 per diluted share, for the quarter ended December 31, 2009, compared to a net loss attributable to Green Plains of $1.8 million, or $0.08 per share, for the same period of 2008. Revenues were $436.7 million for the fourth quarter of 2009, compared to revenues of $183.2 million for the same period in 2008. For the twelve months ended December 31, 2009, revenues were $1.3 billion, with net income attributable to Green Plains of $19.8 million, or $0.79 per diluted share.

“All of our businesses performed well in the fourth quarter,” said Todd Becker, President and Chief Executive Officer of Green Plains Renewable Energy. “We generated significantly higher operating income during the quarter primarily due to a strong performance from our ethanol production segment. In the fourth quarter, we produced 122 million gallons of ethanol which exceeds our expected capacity. The combination of higher production volumes, a stronger margin environment, and harvest activities for agribusiness resulted in a record quarter.”

“During 2009 and more recently, we have continued to see demand for ethanol increase driven by expanded mandates and positive blend margins.  This combined with a record corn harvest resulted in an improved margin environment in late 2009 and early 2010. While we are pleased with these trends, our focus remains on risk management, operational excellence, safety and expanding our platform in the coming year as opportunities present themselves,” commented Becker.

“I am proud of the many accomplishments our team achieved during 2009. We fortified our operating, administrative and commercial activities while at the same time demonstrated our ability to significantly grow our operating segments. Our business model has been tested through one of the most challenging environments the ethanol industry has seen and continues to prove itself. As a result, we were able to reach profitability for the full year. We believe our industry, and more importantly, our company is on solid footing for the coming years,” said Becker.

EBITDA, which is defined as earnings before interest, income taxes, noncontrolling interests, depreciation and amortization, was $37.8 million for the quarter ended December 31, 2009, compared with $6.5 million for the same period in 2008. Green Plains had available liquidity of $138.7 million, including $102.3 million total cash and equivalents, and $36.4 million available under committed loan agreements (subject to satisfaction of specified lending conditions and covenants) at December 31, 2009. EBITDA for the twelve months ended December 31, 2009 was $67.7 million.

2009 Business Highlights

• On October 14, 2009, Green Plains unveiled BioProcessAlgae, LLC’s Phase I Grower Harvester TM pilot project. BioProcessAlgae has completed the installation of Phase I of the multi-phase pilot project and algae production has commenced at the company’s Shenandoah ethanol plant.
• Green Plains Trade Group LLC, a wholly-owned subsidiary, entered into an agreement to provide third-party ethanol marketing services to Lincolnway Energy, LLC at the end of the third quarter. The addition of Lincolnway, located near Nevada, Iowa, increased our third-party marketing services to four plants with annual expected ethanol production totaling 360 million gallons.
• On July 2, 2009, Green Plains completed the acquisition of two Nebraska ethanol plants located near Central City and Ord. The addition of these plants increased the company’s expected ethanol production capacity by 45%. Green Plains acquired the ethanol plants from a lender group for $121.0 million which provided debt financing to fund the purchases.
• On January 15, 2009, Green Plains Trade entered into an agreement to provide third-party ethanol marketing services to Bushmills Ethanol, Inc. of Atwater, Minnesota.
• Green Plains acquired majority interest in Houston-based biofuel terminal operator Blendstar, LLC as of January 1, 2009. The transaction involved a membership interest purchase whereby Green Plains acquired 51% of Blendstar for $8.9 million. Blendstar currently operates nine blending and terminaling facilities in the south central United States.

About NTR plc

NTR plc, the international renewable energy group, builds and runs green energy and resource-sustaining businesses. 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 ethanol) and sustainable waste management businesses in the USA, UK, and Ireland. The company employs over 4,100 people.
www.ntrplc.com

About Green Plains Renewable Energy, Inc.

Green Plains Renewable Energy, Inc. (NASDAQ: GPRE) is North America’s fourth largest ethanol producer, operating a total of six ethanol plants in Indiana, Iowa, Nebraska and Tennessee with annual expected operating capacity totaling approximately 480 million gallons. Green Plains also markets and distributes ethanol for four third-party ethanol producers with annual expected operating capacity totaling approximately 360 million gallons. Green Plains owns 51% of Blendstar, LLC, a biofuel terminal operator which operates nine blending or terminaling facilities with approximately 495 million gallons per year of total throughput capacity in seven states in the south central United States. Green Plains operates grain storage facilities and complementary agronomy and petroleum businesses in northern Iowa and southern Minnesota.

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