Granite Falls Energy, LLC acquired a majority stake in Heron Lake BioEnergy, LLC.
August 01, 2013 at 05:00 am
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Granite Falls Energy, LLC (OTCPK:GFGY) acquired a majority stake in Heron Lake BioEnergy, LLC on August 1, 2013. Granite Falls will assume the management of Heron Lake BioEnergy and will appoint a majority of the members of Heron Lake BioEnergy's Board of Governors.
Granite Falls Energy, LLC (OTCPK:GFGY) completed the acquisition of a majority stake in Heron Lake BioEnergy, LLC on August 1, 2013.
Heron Lake BioEnergy, LLC owns and operates an ethanol plant near Heron Lake, Minnesota with a permitted capacity of approximately 72.3 million gallons per year of undenatured ethanol on a twelve-month rolling sum basis. In addition, Heron Lake BioEnergy, LLC produces and sells distillersâ grains with solubles and corn oil as co-products of ethanol production. The Companyâs segments include Ethanol Production and Natural Gas Pipeline. Heron Lake BioEnergy, LLCâs wholly owned subsidiary, HLBE Pipeline Company, LLC (HLBE Pipeline Company), is the sole owner of Agrinatural Gas, LLC (Agrinatural). Agrinatural, is a natural gas pipeline company that owns and operates the natural gas pipeline that provides natural gas to the Companyâs ethanol production facility and other customers through a connection with the natural gas pipeline facilities of Northern Border Pipeline Company in Cottonwood County, Minnesota.
HERON LAKE BIOENERGY, LLC 
