SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
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May 5, 2006
GREEN PLAINS RENEWABLE ENERGY, INC.
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(Exact name of registrant as specified in its charter)
Iowa
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(State or other jurisdiction of incorporation)
333-121321 84-1652107
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(Commission file number) (IRS employer identification no.)
7945 W. Sahara Avenue, #107, Las Vegas, Nevada 89117
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(Address of principal executive offices) (Zip code)
(702) 363-9307
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(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events
On May 5, 2006, the Company exercised options to purchase 68 acres of
land near Superior, Iowa in consideration for a purchase price of $478,542. The
purchase price was paid through the issuance of 10,900 restricted shares of the
Company's common stock at a price of approximately $43.90 per share. After this
transaction, the Company had outstanding 4,360,667 shares of common stock and
warrants exercisable for 832,721 shares of common stock
The Company intends to build a 50 Million Gallon, Fuel Grade Ethanol
Plant at the Superior, Iowa site. The exact location of the plant has been cited
by Agra Industries of Merrill, WI, GPRE'S design builder for the Superior
project. An application for an air permit needed prior to the commencement of
construction was submitted to the Iowa Department of Natural Resources on April
19, 2006, by NRG (Natural Resource Group) of Minneapolis, Minnesota. NRG is the
consulting firm engaged by GPRE to do such work for the Company. NRG obtained
GPRE's air permit for its first 50 Million Gallon Ethanol project in Shenandoah,
Iowa. There can be no assurance that the Company will be successful in building
this plant.
On Friday, April 28, 2006 GPRE received a letter from the Union Pacific
Corporation indicating to GPRE that Union Pacific has agreed to supply rail
service to the Superior site. This determination is contingent upon the final
rail design and layout meeting all UP Engineering and Operating design
standards. This authorization was necessary for the project to proceed. There
can be no assurance, however, that the contingencies will be satisfied and that
rail service to the Superior site will be completed.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GREEN PLAINS RENEWABLE ENERGY, INC.
Date: May 9, 2006 By /s/ Barry A. Ellsworth
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Barry A. Ellsworth
President
(Principal Executive Officer)
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