Granite Falls Energy, LLC Plans to Terminate Steve Christensen as CEO on or Before December 31, 2021
February 22, 2021 at 06:06 am EST
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On or about February 17, 2021, Granite Falls Energy, LLC executed a separation agreement with its General Manager Steve Christensen, providing that Christensen's services to the Company are expected terminate on or before December 31, 2021. Christensen has been employed by the Company since 2012 and intends to retire at or before the end 2021. Pursuant to the Agreement, Christensen's services to the Company will terminate at the earlier of December 31, 2021, or the hiring of a new General Manager and the completion of a transition period. Christensen will be paid in full pursuant to the terms of his employment agreement through December 31, 2021, even if his services terminate earlier due to the hiring of his replacement. In any event, Christensen's services to the Company are expected to terminate no later than December 31, 2021.
Granite Falls Energy, LLC is engaged in the production and sale of ethanol and its co-products (wet, modified wet and dried distiller's grains, corn oil and corn syrup) locally and throughout the continental United States. The principal products from ethanol production at the Company's plant and its subsidiary, Heron Lake BioEnergy, LLC (HLBEs) plant are fuel-grade ethanol, distiller grains, and non-edible corn oil. In addition, HLBE's plant also includes corn syrup and natural gas pipeline operations. It also extracts non-edible crude corn oil. It sells distillers grains (DDGS) as animal feed for beef and dairy cattle, poultry and hogs. Its corn oil is primarily sold to diesel manufacturers and, to a lesser extent, feed lot and poultry markets. Its ethanol production operations are carried out at its ethanol plant located in Granite Falls, Minnesota, and at the ethanol plant operated by HLBE located near Heron Lake, Minnesota. It distributes its products through third party marketers.
GRANITE FALLS ENERGY, LLC 
