Green Plains' Chief Executive Officer Todd Becker is getting closer to his goal of never having to worry about U.S. ethanol policy again, reportsBloomberg.
Instead of awaiting Washington’snext movein 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 companyjoinedwith asset management firmOspraie Management LLCto 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 asaquaculturewill become among Green Plains’ lead products, Becker said.
