Green Plains Renewable Energy, Inc. Announces Preliminary Approval for $2.3M Research and Development Grant

Press Release
Source: Green Plains Renewable Energy

Monday, April 14, 6:00 am ET

OMAHA, NE--(MARKET WIRE)--Apr 14, 2008 -- On April 9, 2008, Green Plains Renewable Energy, Inc. (NasdaqCM:GPRE - News) (NasdaqCM:GPRE - News) received preliminary approval from the Iowa Power Fund for a $2,315,407 grant to fund research and development of algae-based biofuel feedstock production. The award is subject to negotiation and completion of definitive agreements among Green Plains, GreenFuel Technology Corp. and the State of Iowa.

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