Green Plains' Chief Executive Officer Todd Becker is getting closer to his goal of never having to worry about U.S. ethanol policy again, reports Bloomberg.
Instead of awaiting Washington’s next move in the industry’s battle with Big Oil for share of gasoline tanks, Becker is working to transform Green Plains into an agricultural technology company focused on extracting more oil and high-value proteins from corn, with ethanol merely a byproduct.
Last week, the company joined with asset management firm Ospraie Management LLC to buy a majority stake in Fluid Quip Technologies as part of Green Plains’ push to make protein-dense ingredients used in products like animal feed.
Ethanol now generates roughly 70% of the company’s revenue, bigh-protein ingredients for pet food and growing markets such as aquaculture will become among Green Plains’ lead products, Becker said.
