Tag: Green Plains

Green Plains CEO sees significant industry consolidation on the horizon

Green Plains CEO sees significant industry consolidation on the horizon

July 30, 2019 |

In Iowa, Reuters reports that the CEO of Green Plains feels the ethanol industry is at its breaking point between a drop in ethanol export demand from China due to the ongoing US-Sino trade war and continued issuance of hardship waivers for small oil refineries under the Renewable Fuel Standard. He said that some ethanol […]

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Green Plains announces offering of $105 million in convertible senior notes

Green Plains announces offering of $105 million in convertible senior notes

June 19, 2019 |

In Nebraska, Green Plains Inc. announced the pricing of its offering of $105 million aggregate principal amount of convertible senior notes due 2024, which was upsized from the previously announced $100 million aggregate principal amount of notes. The notes are to be offered and sold in a private placement to qualified institutional buyers (as defined […]

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Learnings from the Earnings – Who’s Up? Who’s Down?

Learnings from the Earnings – Who’s Up? Who’s Down?

March 23, 2019 |

The lucky 13 – with spring comes a sense of renewal and this season these lucky 13 bioeconomy bellwethers recently shared their 2018 and Q4 earnings to reveal uncertainties with trade wars, especially between the U.S. and China, some deals that fell through impacting losses, and pricing issues. But all is not lost as there […]

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Green Plains idling Otter Tail ethanol plant amidst continued low margins

Green Plains idling Otter Tail ethanol plant amidst continued low margins

December 18, 2018 |

In Minnesota, Reuters reports that Green Plains is idling yet another ethanol plant, this time the 55 million gallon per year Otter Tail facility in Fergus Falls, as low ethanol prices continue to bite into margins. With winter weather making it difficult to restart the plant, it will have to stay idled until spring, but […]

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Green Plains laying off around 40 employees to “right size” following asset shifts

Green Plains laying off around 40 employees to “right size” following asset shifts

December 11, 2018 |

In Nebraska, Reuters reports that Green Plains has started laying off employees in the wake of selling off ethanol production assets rather than due to weak production margins. Sources told Reuters that about 40 people had been laid off as the company seeks to “right size” itself. The company recently sold three ethanol plants to […]

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Green Plains repays $500 million senior secured term loan due 2023

Green Plains repays $500 million senior secured term loan due 2023

November 28, 2018 |

In Nebraska, Green Plains Inc. announced that it has repaid its entire obligation for the $500 million senior secured term loan due 2023. All of the company’s assets and subsidiaries, not including Green Plains Partners LP, are unencumbered from term debt. “When we announced our portfolio optimization plan in May, our priorities included proving the […]

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Green Plains sheds three plants, shutters another and offloads storage and rail assets

Green Plains sheds three plants, shutters another and offloads storage and rail assets

November 15, 2018 |

In Nebraska, Green Plains Inc. announced that it completed the previously announced sale of its three ethanol plants to Valero Renewable Fuels Company LLC for $319 million in cash, including net working capital and other adjustments. The transaction includes ethanol plants located in Bluffton, Ind., Lakota, Iowa, and Riga, Mich. which represented approximately 20% of […]

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Green Plains sells three ethanol plants to Valero

Green Plains sells three ethanol plants to Valero

October 13, 2018 |

In Nebraska, Green Plains Inc. entered into an asset purchase agreement with Valero Renewable Fuels Company LLC to sell three of its ethanol plants located in Lakota, Iowa, Bluffton, Ind., and Riga, Mich. for $300 million in cash, plus approximately $28 million of working capital also paid in cash. The transaction involves 280 million gallons […]

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Green Plains says its plants aren’t shutdown but in “warm idle”

Green Plains says its plants aren’t shutdown but in “warm idle”

September 19, 2018 |

In Missouri, Brownfield Ag News reports that Green Plains’ CEO clarified the company’s position and it isn’t mothballing its ethanol plants in Iowa and Minnesota but instead are at a “warm idle”, still accepting corn and able to restart production whenever the market allows. The facilities that have stopped producing ethanol account for about 20% […]

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Green Plains mothballs 20% of production capacity due to Trump’s trade war

Green Plains mothballs 20% of production capacity due to Trump’s trade war

September 17, 2018 |

In Minnesota, Reuters reports that Green Plains is mothballing its ethanol production plants in Superior, Iowa and Lakota, Iowa as well as running its Fairmont, Minnesota plant at half capacity as President Trump’s trade war takes a bite out of demand from China. Together, the three facilities produced about 1.48 billion gallons annually, accounting for […]

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