Ocean Park Advises Green Plains on Sale of Nebraska Ethanol Plant
January 28, 2021 – Green Plains Inc. (“Green Plains”) announced on January 27, 2021, that its subsidiary, Green Plains Ord LLC, entered into an asset purchase agreement with GreenAmerica Biofuels Ord LLC to sell its 65 million gallon ethanol plant located in Ord, Nebraska for $64 million, plus working capital.
Ocean Park acted as exclusive financial advisor to Green Plains on the transaction.
“The sale of our Ord, Nebraska plant is another step in our overall “fully funded” strategy to rapidly construct and implement our Ultra-High Protein production technology across our biorefining platform,” said Todd Becker, Green Plains president and chief executive officer. “We believe this sale enables us to create additional value for our shareholders by efficiently deploying capital to support our transformation through technological advancements in proteins, sustainable corn oils and clean sugars acquired in the recently announced Fluid Quip Technologies transaction.”
While the Nebraska ethanol plant is changing hands, it will continue producing renewable fuel in 2021. The move comes as demand for low carbon fuels grows nationwide.
“We are pleased to assist Green Plains on another ethanol plant divestiture as it executes on its Total Transformation Plan,” said Mark Fisler, Ocean Park managing director. “This transaction marks the thirty-second successful biofuels transaction for Ocean Park, and we are proud to have earned a high degree of trust as a leading advisor in the renewable fuels and chemicals industries.”
Green Plains Inc. (NASDAQ:GPRE) is a leading biorefining company focused on the development and utilization of fermentation, agricultural and biological technologies in the processing of annually renewable crops into sustainable value-added ingredients. This includes the production of cleaner low carbon biofuels, renewable feedstocks for advanced biofuels and high purity alcohols for use in cleaners and disinfectants. Green Plains is an innovative producer of Ultra-High Protein and novel ingredients for animal and aquaculture diets to help satisfy a growing global appetite for sustainable protein. The Company also owns a 48.9% limited partner interest and a 2.0% general partner interest in Green Plains Partners LP. For more information, visit www.gpreinc.com.
GreenAmerica Biofuels Ord LLC is a newly formed, wholly owned subsidiary of a privately-held investment company that has maintained significant investments in fuel distribution across North America and Canada and has been operating for over 50 years.
Ocean Park is a leading boutique investment bank focused on the renewable fuels, energy, food, AgTech and agribusiness sectors. The Ocean Park team has significant operational and transaction experience, including advising on mergers and acquisitions, financings and restructurings. Since its founding in 2004, Ocean Park has successfully completed over 80 transactions and client engagements. Its professionals are based in Los Angeles, Houston and Omaha. For more information, please visit oceanpk.com or call (310) 670-2093.