In November 2008, we formed a joint venture to commercialize algae production as part of our commitment to next-generation biofuels. BioProcess Algae LLC is a joint venture between Green Plains, Clarcor Inc. and BioHoldings Ltd. Using our advanced Grower HarvesterTM technology developed around 33 patents, BioProcess Algae is currently producing algae with its commercial scale bioreactors. BioProcess Algae has recently completed its Phase III project, which consists of five acres of greenhouses growing algae with the Grower Harvester technology.
The algae grown and harvested from our bioreactors have the potential to be used for advanced bio-fuel production, high quality animal feed, nutraceuticals, pharmaceuticals, and/or as biomass for energy production. A benefit from the co-location of the algae project is the ability to use the carbon dioxide that is a by-product of the ethanol production process.