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GPRE, BioprocessAlgae complete funding for algae project

Green Plains Renewable Energy Inc. and BioProcessAlgae LLC have executed a grant award agreement with the Iowa Office of Energy Independence for a $2.1 million research and development grant from the Iowa Power Fund to build an algae pilot project at Green Plains' ethanol plant in Shenandoah, Iowa. The Iowa Power Fund grant provides matching funds to install a series of photobioreactor units at Green Plains' Shenandoah ethanol plant. Water, heat and carbon dioxide will be recycled from the ethanol manufacturing process to support continuous algae production. The grant provides funding through the end of the first quarter of calendar year 2010 with installation of the pilot project expected in the third quarter of 2009.
 

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