Green Plains Inc. (NASDAQ: GPRE) has announced the completion of the 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 move is in line with the company's strategy to optimize its portfolio and advance carbon reduction initiatives.
The sale of the Tennessee plant will strengthen Green Plains' balance sheet by eliminating the company's junior mezzanine debt and enhancing liquidity, providing greater financial flexibility. This aligns with the company's commitment to advancing the transition to a low-carbon world through the production of renewable fuels and sustainable, high-impact ingredients.
Green Plains is actively deploying carbon capture and storage (CCS) solutions, with three of its facilities set to begin carbon capture later this year. The company's focus on innovation and operational excellence is aimed at reducing the carbon intensity of its products while delivering value to stakeholders. Today the company's shares have moved -4.67% to a price of $9.19. If you want to know more, read the company's complete 8-K report here.
