Green Plains is a vertically integrated ethanol producer based in Omaha, Nebraska. We currently have an ethanol production capacity of approximately 1.5 billion gallons per year with our 17 plants strategically located across the U.S. We also operate an independent third party ethanol marketing business, Green Plains Trade.
Distillers grains are an important co-product of Green Plains’ ethanol production. At capacity our plants will produce approximately 4.1 million tons of distillers grains annually that will be used as a high-protein, high-energy animal fodder and feed supplement. Corn oil is a processing residue from ethanol production that is recovered at all of our plants. Corn oil is sold to biodiesel manufacturers and to feed lot and poultry markets.
Green Plains also provides grain storage through our Subsidiary – Green Plains Grain. Green Plains Grain has grain storage capacity of approximately 58 million bushels, including on-site storage at our ethanol plants, that is used to support our grain merchandising activities, as well as our ethanol plant operations. We believe that incorporating this business segment into our operations increases efficiencies and reduces commodity price and supply risks.
Looking to next generation technology, Green Plains is part of a joint venture called BioProcess Algae to commercialize algae production technology. In addition to Green Plains, the other partners in the venture are CLARCOR Inc. and BioProcess H2O. The project, located at Green Plains in Shenandoah, Iowa, received a grant from the Iowa Office of Energy Independence totaling $4.1 million.