NTR Ethanol Investment Announces $2.1m Grant Funding for Algae Pilot Project


May 04 2009

NTR plc’s ethanol investment, Green Plains Renewable Energy, Inc. (NASDAQ: GPRE) 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.

“Algae has the potential to become an important carbon sequestration solution, biofuel feedstock and feed product,”said Todd Becker, President and Chief Executive Officer of Green Plains. “If the pilot project is successful, BioProcessAlgae will move to expand the photobioreactor system to full commercial scale. We believe that this pilot project will be one of the first operational installations of a photobioreactor system at an industrial plant in the United Sates utilising emerging technology out of the laboratory.”

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.

“BioProcessAlgae and its technology partners have made significant progress in the engineering, design and development of photobioreactor systems for algae production,”said Kevin Lynch, Chief Executive Officer of BioProcessAlgae. “The project will give us the opportunity to test our systems on a larger scale.  This is a very important step toward system commercialisation of algae technology.” BioProcessAlgae LLC is a joint venture between Green Plains, NTR plc (a significant shareholder of Green Plains), CLARCOR Inc. and BioProcessH20.

About BioProcessAlgae

BioProcessAlgae LLC is a joint venture between Green Plains, CLARCOR Inc. (NYSE: CLC), BioProcessH2O LLC and NTR plc. BioProcessAlgae was created to commercialise advanced photobioreactor technologies for continuous production of algae biomass.

About NTR plc

NTR plc is a leading international developer and operator in renewable energy and sustainable waste management. Founded in 1978, NTR has evolved from being a developer and operator of infrastructure in Ireland to an international developer and operator of renewable energy (wind, solar and bio-ethanol), and sustainable waste management businesses in the USA, UK, and Ireland. The company employs over 4,100 people and has a market capitalization in excess of circa €400m ($540m).

Enquiries:

Issued on behalf of NTR plc by Heneghan PR:
Nigel Heneghan / Rachel Watchorn
Tel: +353 1 660 7395

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