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Fluid Quip Technologies of Cedar Rapids has been purchased by an Omaha, Neb.-based company.
Green Plains Inc. said Tuesday it acquired majority interest in Fluid Quip, which develops new technologies and processes for the biofuels and biochemical industries, as part of a joint transaction with Ospraie Management, according to a news release.
One of the goals of the purchase was to capitalize on high-protein animal feed, produced through a technology developed by Fluid Quip.
Maximized stillage co-products, or MSC, technology extracts protein from the whole stillage that remains after ethanol processing and makes a 50 percent protein feed for pets, fish, dairy cows, poultry and swine, The Gazette reported last month.
'We believe the Fluid Quip IP portfolio has many game-changing valuable technologies that the world needs right now,” Dwight Anderson, managing partner of Ospraie, said in a prepared statement.
John Kwik, partner of Fluid Quip, said in the statement the deal will accelerate development of new technologies and protect the Cedar Rapids company from infringement, among other outcomes.
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