Green Plains And BioProcess To Receive Grant Of $2 Million For Expansion Of Grower Harvest Biofuels Project In Iowa, U.S.

Published: Jul 20 2010
Deal Summary

Green Plains Renewable Energy, Inc., a renewable energy company and BioProcess Algae LLC, a technology producing company, announced receive grant of $2 million for the expansion of phase II of Grower Harvest biofuels project to be located in at Green Plains ethanol plant in Shenandoah, Iowa, United States. The financing of the project will be provided by Iowa Power Fund.

The total project cost is estimated to be $4.5 million. The facility will use the existing ethanol plant’s carbon dioxide emissions and waste heat for the algae process.

BioProcess Algae LLC, is a joint venture company between Green Plains and Clarcor. The construction of the project is expected to start by August 2010 and to be operational by the end of 2010.

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