Green Plains Inc. completed a commercial carbon‑capture and storage milestone on December 8 2025 by capturing biogenic CO₂ from its Central City, Wood River, and York Nebraska biorefineries, transporting the gas via the Trailblazer pipeline, and permanently sequestering it at Tallgrass Energy’s southeast Wyoming hub. The operation demonstrates that large‑scale CCS is now fully operational across the company’s Nebraska footprint.
The company also received its first $14 million payment under the 45Z clean‑fuel production credit program, a portion of the 2025 production tax credits it earned under a prior monetization agreement with Freepoint Commodities. Additional payments for the remaining 2025 credits are expected in the first quarter of 2026. The credit reflects the company’s success in reducing the carbon intensity of its ethanol production and provides a tangible financial benefit that will boost 2025 EBITDA by an estimated $40–$50 million after accounting for discounts and expenses.
The Trailblazer pipeline, a 400‑mile line converted from natural gas to CO₂ transport, carries the captured gas to the Wyoming hub, which can store over 10 million tons of CO₂ per year. By linking all three Nebraska plants to this infrastructure, Green Plains has unlocked a new revenue stream and positioned itself as a key supplier of low‑carbon ethanol for the emerging sustainable aviation fuel market, where such feedstock is critical.
In Q3 2024 the company reported net income of $48.2 million and EBITDA of $83.3 million, while in Q3 2025 net income fell to $11.9 million and adjusted EBITDA to $52.6 million. The decline was largely driven by a non‑recurring interest expense related to extinguished debt, not by operational performance. The ethanol crush margin remained steady at $59.6 million, up slightly from $58.3 million in the prior year, indicating that core operations continued to perform well despite the headwind.
President and CEO Chris Osowski said the milestone “shows that we are executing on our low‑carbon strategy with purpose and precision. Each step forward unlocks new value and advances our platform that we believe will drive growth and deliver long‑term value.” He added that the 45Z credit monetization and the operational success of the carbon‑capture systems are key drivers of the company’s future earnings potential.
The achievement reinforces investor confidence in Green Plains’ transition to a value‑added agricultural technology company focused on lower‑carbon fuels, and it underscores the company’s ability to generate tangible financial returns from its sustainability initiatives.
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