Looks like NuGen is in the market for a corn oil extraction system! Just another free lead coutesy of the SkunK to the GreenShift Sales Department!
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6.7 New Business or Investment.
CFC agrees to, and will cause NuGen to, not pursue new business or investment opportunities other than the ongoing NuGen projects relating to a grain conveyance system, potential amendments to the ethanol marketing agreement and investigation as to a corn oil extraction system. Any contracts entered into on such matters prior to Closing shall require REX’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed, until (i) closing of the transactions contemplated by this Agreement or (ii) the Parties agree to terminate that certain letter agreement between them dated June 21, 2011.
Page 15 see here
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On November 1, 2011, REX NuGen, LLC, a wholly owned subsidiary of REX American Resources Corporation ("REX") completed the acquisition of 51,051 Class A membership interest units of NuGen Energy, LLC ("NuGen") from Central Farmers Cooperative ("CFC") pursuant to a Unit Purchase Agreement dated July 25, 2011 (the "Unit Purchase Agreement") among REX and CFC, as extended and amended. The Class A Units purchased constitute a 51% voting interest and a 49.75% equity interest in NuGen (the "Purchased Units"). Following the purchase, REX owns all the outstanding Class A membership interest units in NuGen, representing a 100% voting interest and a 97.55% equity interest in NuGen. NuGen owns and operates an ethanol refinery and production facility with an annual nameplate capacity of 100 million gallons located in Marion, South Dakota.
REX NuGen LLC, a South Dakota limited liability company (“REX”)
and
Central Farmers Cooperative, a South Dakota Cooperative (“CFC”).
SkunK
Thursday, November 3, 2011
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4 comments:
That would be a major news development considering REX owns 10% of two plants that are currently under litigation. Big River, IL and Big River, IA.
http://www.rexamerican.com/Corp/Page4.aspx
Good Luck To All!$!$!$!$
A Whole New Twist..
http://www.agweb.com/article/a_whole_new_twist/
A California ethanol plant and a dairy team up to build a methane digester.
Calgren first fired up its ethanol plant in 2008. One of California’s three operational ethanol plants, it produces 58 million gallons of ethanol a year, as well as wet distillers’ grains and corn oil. Nearly all of the plant’s corn comes from the Midwest.
From the beginning, Calgren saw opportunity in powering its plant with biomethane, not just fossil-fuel based natural gas. The company wanted to reduce its pollutant emissions and meet new federal guidelines under the Renewable Fuels Standard. And it sat in Tulare County, one of the nation’s top dairy areas. "If we could substitute a waste product to power our plant, we would make a more environmentally friendly ethanol product," Schlyer says.
Calgren had another need. Because it generates its own electricity and steam, it produces hot stack gases and ends up with excess heat. That heat surplus could keep a methane digester at consistently high temperatures—perfect for the anaerobic process and producing methane. "We would improve efficiency and consume less fuel," Schyler says.
The company turned to Maas, who helped write a grant proposal for the digester-pipeline project. In April 2010, the California Energy Commission awarded Calgren a $4.68 million matching grant to pay for half of the project.
Calgren is still deep in the permitting process for the project, which operates under the name Pixley Biogas Company. It hopes to begin construction by early next spring. Under Maas’ direction, the company will install a GHD-modified, plug-flow digester system about 100 yards north of the ethanol plant, which sits beside busy Freeway 99. Schlyer hopes the biomethane will reduce the plant’s natural gas usage by 8%.
What a gas!
LOL!
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