Green Plains Reports 2011 Financial Results

February 9, 2012
AlgaeIndustryMagazine.com

reen Plains Renewable Energy, Inc., North America’s fourth largest ethanol producer, has announced its financial results for the fourth quarter and full-year ended December 31, 2011. Net income attributable to Green Plains for the full year of 2011 was $38.4 million, or $1.01 per diluted share, compared to $48.0 million or $1.51 per diluted share in 2010. Revenues were $3.6 billion for the year ended December 31, 2011, compared to $2.1 billion in 2010.

Green Plains is a joint venture partner in BioProcess Algae LLC, which was formed to commercialize advanced photo-bioreactor technologies for the growing and harvesting of algal biomass. BioProcess Algae LLC completed the construction of one and a half acres of outdoor Grower Harvester(TM) reactors in the fall of 2011. In October 2011, Green Plains and BioProcess Algae announced successful completion of the first round of algae-based poultry feed trials, and have begun construction on a five-acre algae cultivation project at Green Plains’ Shenandoah ethanol production facility.

“In three short years, we have successfully built a large, diversified platform capable of generating solid operating results and strong cash flows,” said Todd Becker, President and Chief Executive Officer.

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