50 million gallon per year fuel grade ethanol plant

GPRE is building a 50 million gallon per year fuel grade ethanol plant in Shenandoah, Iowa. Fagen, Inc. of Granite Falls, MN is our Design-Builder. Fagen is viewed by many to be the premier builder of dry-grind ethanol plants in the country.


GPRE is presently in the process of preparing the site for Fagen to take over. Mathiowetz Construction has been working on the grading and dirt work for the past month. Fagen is anticipating coming on to the site to commence construction of the plant on approximately April 17, 2006.

As noted in our recently filed 10K and our recently filed 10Q, we acquired Superior Ethanol, LLC on February 22, 2006. Superior Ethanol has options to purchase at least 135 acres of land near Superior, Iowa. We have also acquired an option to purchase up to 88 acres in Atlantic, Iowa. It is our intention to build ethanol plants in both of these new locations. However, no assurance can be given at this time that we will be successful in our attempts to build at either location.