Granite Falls COES Update

The new 10K for GRANITE FALLS ENERGY, LLC is out.  They are located at 15045 Highway 23 SE, Granite Falls, MN 56241-0216

Corn Oil
"In May 2008 the corn oil extraction equipment we installed at our plant became operational. Corn oil is used primarily as a biodiesel feedstock and as a supplement for animal feed. Corn oil sales accounted for approximately 2.5% of our revenues during our fiscal years ended October 31, 2011 and 2010 and 1% for our fiscal year ended October 31, 2009." p. 5

Revenue for the fiscal year ended October 31, 2011. . .  Corn oil sales $3,843,725 p.19

"During our 2010 fiscal year, we experienced an increase in the total pounds of corn oil we sold of approximately 5% compared to our 2009 fiscal year. We produced more corn oil during our 2010 fiscal year compared to our 2009 fiscal year due to increased functionality of the corn oil extraction equipment." p. 23
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Dave Winsness and Veridium Corporation [GreenShift Ancestor] have at least a contract history with Granite Falls Energy.

In the past (2008) what they actually installed was called an "oil separator" system - instead of an "oil extraction" system - code to the SkunK that it is NOT a patented GreenShift "oil extraction" system.

"Subsequent to our fiscal quarter ended April 30, 2008, we completed the installation and start-up of our corn oil separation equipment at our ethanol plant and we are presently operating the new equipment. . . . . we expect the total cost of the oil separator system will be approximately $775,000."

Mr Fagen, through his company, is believed to own over 12% of Granite Falls Energy
Fagen Construction is also Headquartered in Granite Falls, Mn.

SkunK