Granite Falls Energy, Llc to Extend the Current Shutdown
April 27, 2020 at 11:41 am EDT
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On April 23, 2020, Granite Falls Energy, LLC management determined that it is in the best interest of the Company to extend the current shutdown of the Company’s ethanol production operations, which commenced on or about April 3, 2020 and was anticipated to end on April 30, 2020, through approximately May 18, 2020, due to market risks and uncertainties related to the COVID-19 pandemic and its ramifications. As the currently anticipated date of on or around May 18, 2020 approaches, the Company will evaluate whether an additional period of idle is appropriate, based on continuously updated information and practices. The Company will provide additional disclosure in the event that the Company determines that an additional extension of the idle period is appropriate.
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 
