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Green Plains Green Plains Reports Third Quarter 2021 Financial Results November 4 , 2021 Results for the Third Quarter of 2021 : • • Net loss attributable to the company of $ 59.6 million , or ( $ 1.18 ) per diluted share Adjusted EBITDA of ( $ 14.8 ) million • Consolidated crush margin of $ 0.01 per gallon for the third quarter and $ 0.16 per gallon year - to - date • Cash , cash equivalents and restricted cash of $ 720.9 million with $ 312.6 million available under committed credit facilities Highlights and Recent Developments • Green Plains Wood River LLC's MSC ™ Ultra - High Protein system is operational , with shipments expected in November • Broke ground on 4th MSC ™ Ultra - High Protein facility , at Green Plains Mount Vernon , and anticipate breaking ground at Obion , Green Plains ' 5 th MSC ™ location in the coming weeks • Extended sales commitments to our pet food vertical with higher volumes through 2022 with a signed MOU for additional sales through 2023 and expect to expand our customer base near term • Announced a turnkey solution for MSCT protein technology , and inaugural project partner , Tharaldson Ethanol , a 175 million gallon facility in Casselton , N.D. • Completed offering of 5,462,500 shares of common stock at $ 32.00 per share • Announced governance updates , including appointing a lead independent director , ongoing refreshment of the Board with two new board members , rotating committee chairs and various amendments enhancing the Board's oversight and strengthening shareholder rights OMAHA , Neb . , Nov. 04 , 2021 ( GLOBE NEWSWIRE ) -- Green Plains Inc. ( NASDAQ : GPRE ) today announced financial results for the third quarter of 2021. Net loss attributable to the company was $ 59.6 million , or ( $ 1.18 ) per diluted share compared to a net loss of $ 34.5 million or ( $ 1.00 ) per diluted share , for the same period in 2020. Revenues were $ 746.8 million for the third quarter of 2021 compared with $ 424.1 million for the same period last year . Commenting on the results , Green Plains ' President and Chief Executive Officer Todd Becker said , " The third quarter results of $ 0.01 per gallon consolidated crush margin were impacted by the near - record physical corn basis levels , accelerated completion of maintenance shutdowns and previously announced MTM timing reversals . Our year - to - date margin averaged $ 0.16 per gallon , and we anticipate full year to finish strong and above our long - term view of the Green Plains 1.0 platform . While we have experienced volatility between quarters due to the timing of various items , we are pleased to have achieved year - to - date results at or above the market and believe we are on track to deliver improved results into 2022 as we continue to execute on our transformation plan while protecting our balance sheet . " " Today , we are announcing that final commissioning of the Wood River Fluid Quip MSC system is underway and that we expect to begin shipping value - added ingredients as early as November . Besides protein , a major benefit of MSC technology is improved corn oil yields and the facility's results are already exceeding our expectations , providing additional confidence that we will see the expected increase in renewable corn oil production as we deploy MSC technology across our platform . We expect renewable corn oil's financial contribution to remain strong , supported by both higher yields and higher prices . When combined with the return to full run rate capability across our platform after the completion of our Project 24 modernization program , we expect to have the capacity to produce over 330 million pounds of renewable corn oil annually by the end of 2022 , and expand further with the deployment of additional MSC systems . " " Our team has made considerable progress on the commercial front . We have signed a multi - year MOU for sales of our Ultra - High Protein ingredients into pet food through 2023 , while also increasing sales volumes in 2022. We are finalizing terms with new pet food customers and continue to work alongside our partners on product design and inclusion rates specifically for this vertical . We also continue to negotiate additional multi - year distribution and supply agreements while negotiating and executing commercial agreements in dairy , swine and aquaculture which will start to set baseload volumes for our products as we bring on additional volumes next year . We continue to focus on the unique nutritional requirements of our expanding target markets , differentiating our products from ingredients sold globally today . " " Our Clean Sugar pilot plant is continuing to produce low - carbon sugars for select customers , resulting in ongoing discussions with key commercial counterparties for potential co - location opportunities , providing additional confidence in our plan as we begin evaluating the engineering and site selection for a larger project . We continue to believe this technology could provide industrial quantities of carbohydrate feedstock for manufacturing applications in the growing biochemical , renewable chemicals and synthetic biology industries at more competitive prices with a lower carbon intensity than other technologies available today . We believe this technology can differentiate Green Plains as we use the Fluid Quip IP portfolio to transform our sites into modern day bio - campuses . " " We are particularly excited about the progress we have made in deploying Ultra - High Protein technology and expect completion of four Ultra - High Protein facilities over the next 12 months , further accelerating contributions from our high - protein initiative . We have now repeatedly found success in executing longer protein production runs of 58 % and higher , made progress in our clean sugar scale - up and we now see new potential for ethanol to become a vital low - carbon feedstock in transportation and sustainable aviation fuels . " " Across our four strategic areas of growth - value - added ingredients , renewable corn oil , clean sugar and carbon capture and sequestration - we are