Press Release:
Green Plains Renewable Energy, Inc. announces the unveiling of BioProcessAlgae, LLC's Phase I photobioreactor pilot project. Green Plains is hosting the event at its Shenandoah, Iowa ethanol plant on October 14, 2009 in conjunction with the Iowa Power Fund Board meeting. BioProcessAlgae has completed the installation of Phase I of the multi-phase pilot project and algae production has commenced at the plant. The Company's research team will begin to collect production data over the next 120 days from the pilot project that will be instrumental in determining the scalability and functionality for future commercial deployment.
"We have directly linked the carbon dioxide (CO2) from the plant into our algae producing Grower Harvester(TM) technology and we believe this to be the first ever deployment of this type in the United States," stated Tim Burns, Chief Executive Officer of BioProcessAlgae, LLC. "The objective of this multi-phase pilot project is to gather critical data to determine the scalability of our Grower Harvester technology as we look to commercialize it in the future. Our focus is to perfect the growing and harvesting of algae in an industrial process."
"We are excited by the opportunities this technology offers to sequester the CO2 emitted at our ethanol plants," said Todd Becker, President and Chief Executive Officer of Green Plains Renewable Energy. "Our plants have warm water, waste heat and C02 which provide a perfect environment for the BioProcessAlgae Grower Harvester technology to be deployed. The algae produced have the potential to be used for advanced bio-fuel production, high quality animal feed, or as biomass for energy production, but our focus is solely on efficiently growing algae and sequestering carbon dioxide at this point."
"We are honored to have Iowa Governor Chet Culver attend this technology unveiling. The State of Iowa has been extremely supportive of this project, with the Iowa Power Fund providing a matching funds grant of $2.1 million for research and development. We firmly believe this technology has the potential to significantly help the environment, the ethanol industry and the Iowa economy," Becker added.
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