Item 1.01 Entry Into a Material Definitive Agreement

On October 28, 2022, Red Trail Energy, LLC (the "Company") entered into a Promissory Note for a $25 million loan (the "Promissory Note") with the Company's primary lender, Cornerstone Bank. The Promissory Note has a maturity date of January 31, 2032. The loan is associated with the Company's carbon dioxide capture and sequestration project. Interest accrues on the loan at a rate of 4.650% per year.

In order to secure the addition loan, the Company entered into a Modification of Mortgage agreement in order to expand the bank's mortgage to include the additional loan.

Item 9.01 Financial Statements and Exhibits



(a)  None.

(b)  None.

(c)  None.

(d)  Exhibits.


Exhibit No.  Description

99.1 Modification of Mortgage between RTE and Cornerstone Bank, dated October


                     28, 2022

99.2 Promissory Note between RTE and Cornerstone Bank for $25 Million, dated

October 28, 2022

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