Revenue at NTR’s US bio-ethanol firm up 60%

REVENUE at renewable energy group NTR’s US-based bio-ethanol company Green Plains Renewable Energy (GPRE) have soared by 60% year-on-year.

Dublin-based NTR expressed satisfaction with GPRE’s net income of $8.7 million (€6.65m), or $0.27 per diluted share, versus $0.6m and 3c per share for Q2 2009. Revenues were $453.4m for the second quarter of 2010 compared to $284.7m in 2009.

GPRE CEO Todd Becker said: “Ethanol production increased again this quarter, to over 129 million gallons, as a result of our investment in process enhancements. We believe our six plants are now capable of sustained production of over 500m gallons per year, which has driven down our operating cost per gallon.”