Green Plains Inc. announced that it has completed the previously announced sale of its ethanol plant in Rives, Tennessee, to POET Biorefining – Obion, LLC for $190 million in cash. The total includes an estimated $20 million in working capital, to be finalized post-closing.
This transaction strengthens Green PlainsтАЩ balance sheet by eliminating the companyтАЩs junior mezzanine debt and enhancing liquidity. It provides greater financial flexibility consistent with the companyтАЩs strategy to optimize its portfolio and advance carbon reduction initiatives.
Green Plains Inc. (NASDAQ:GPRE) is a leading biorefining company advancing the transition to a low-carbon world through the production of renewable fuels and sustainable, high-impact ingredients. The company leverages agricultural, biological, and fermentation expertise to transform annually renewable crops into low-carbon energy and sustainable feedstocks. Green Plains is actively deploying carbon capture and storage (CCS) solutions, with three of its facilities set to begin carbon capture later this year. Through innovation and operational excellence, Green Plains is reducing the carbon intensity of its products while delivering value to stakeholders.
