First Ethanol Shipment Departs from Beaumont Terminal Constructed by Green Plains and Jefferson Energy Companies
OMAHA, Neb. and BEAUMONT, Texas,
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"This state-of-the-art terminal aligns with our strategy to grow our downstream distribution capabilities and optimize our logistics platform," said Todd Becker, president and chief executive officer of Green Plains. "We can now provide an end-to-end solution, from production to delivery, for our customers worldwide at one of the most efficient export loading facilities for ethanol that exists in the marketplace today. In addition, we can now service domestic demand because of our access to three Class I railroads, inbound/outbound barges and trucks, and better locational advantages due to fewer weather and incident-related delays than competing terminals."
"We are excited to commence operations with our partner, one of the largest ethanol producers and traders in North America," said Greg Binion, president and chief executive officer of Jefferson. "The joint venture created infrastructure at Jefferson Beaumont to distribute ethanol to worldwide markets.
The newly constructed
"The completion of this project solidifies our position as a preferred supplier able to offer our customers product when they want it, where they want it, and how they want it as exports continue to grow over the next several years from the U.S.," added Becker.
The joint venture leveraged the existing infrastructure at Jefferson's Beaumont, Texas terminal and completed construction under budget in less than 12 months. Green Plains plans to offer its interest in the joint venture to its master limited partnership,
About the
The terminal is owned and operated by Jefferson Energy Companies, a midstream oil and terminal company that serves the
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Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements include words such as "anticipates," "believes," "estimates," "expects," "goal," "intends," "plans," "potential," "predicts," "should," "will," and other words with similar meanings in connection with future operating or financial performance. Such statements are based on each company's management's current expectations, which are subject to various factors, risks and uncertainties that may cause actual results, outcomes, timing and performance to differ materially from those expressed or implied. Green Plains, Jefferson Energy Companies and FTAI may each experience significant fluctuations in future operating results due to a number of economic conditions, including competition in the industries in which they operate; commodity market risks, including those resulting from current weather conditions; financial market risks; counterparty risks; risks associated with changes to federal policy or regulation; risks related to closing and achieving anticipated results from acquisitions; risks associated with the joint venture to complete the unit train terminal; and other risks detailed in Green Plains' and FTAI's respective reports filed with the
Investors & Media Contacts:
Jim Stark
Vice President, Investor & Media Relations
Green Plains Inc.
(402) 884-8700
jim.stark@gpreinc.com
Alan Andreini
Managing Director
Fortress Transportation and Infrastructure Investors LLC
(212) 798-6128
aandreini@fortress.com
Terminal Commercial Contacts
Frank Rodriguez
Vice President – Commercial De
Jefferson Energy Company
(281) 677-4900
frodriguez@jeffersonenergyco.co
Patrich Simpkins
Chief Development Officer
(402) 952-4906
patrich.simpkins@gpreinc.com