Nebraska, US-based ethanol producer Green Plains Renewable Energy has acquired a majority interest in Houston-based biofuel terminal operator Blendstar.
Green Plains acquired 51% of Blendstar from Bioverda U.S. Holdings for $9 million (7 million).
Blendstar currently operates terminal facilities in Oklahoma City, Little Rock, Nashville, Knoxville, Louisville and Birmingham.
Additionally, Blendstar has announced commitments to build terminals in Collins, Mississippi and Shreveport, Louisiana. Up to 10 terminal sites are under consideration.
Through Blendstar, we are making an important investment in downstream biofuel enterprises, Todd Becker, CEO of Green Plains Renewable Energy, says. The Blendstar platform allows customers to source, store and blend ethanol and biodiesel to meet growing demand, now and in the future.
Existing Blendstar facilities have splash blending and full-load terminal throughput capacity of over 200 million gallons a year.
In addition, Green Plains expects to produce, market and/or distribute approximately 635 million gallons of ethanol a year.
Blendstar's strategy is to locate facilities in mid-sized metropolitan areas where biofuels are under-used. Generally, the sites are in close proximity to major fuel terminals and transportation corridors.
The facilities are fully automated and provide some of the most efficient blending and loading operations available.