Midwest AgEnergy Group, LLC executed an agreement to sell 100% of Midwest AgEnergy to HLCP Ethanol Holdco, LLC (HLCP). Midwest AgEnergy is a biofuels enterprise of which Great River Energy is the majority owner.
HLCP will assume ownership of Midwest AgEnergy and its associated businesses, including the Blue Flint and Dakota Spirit ethanol biorefineries as well as Midwest AgEnergy’s 40% interest in Coal Creek Drying and Storage. Great River Energy’s Spiritwood Station will continue to supply steam and water to Dakota Spirit.
Great River Energy’s ownership of Midwest AgEnergy served its members well for many years. After the sale of Coal Creek Station, however, the cooperative had less of a strategic interest in ethanol biorefineries. This transaction brings Great River Energy’s investment in the ethanol industry to a smooth and successful conclusion.
The transaction was approved by Midwest AgEnergy’s board and is expected to close before the end of the year.