Ring-Neck Energy & Feed, LLC announced that it has received $10 million in funding from Lake Area Corn Processors, LLC
July 11, 2017
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Ring-Neck Energy & Feed, LLC announced that it has entered into a definitive subscription agreement with new investor Lake Area Corn Processors, LLC for a private placement of 2,000 membership units at a price of $5000 per unit for gross proceeds of $10,000,000 on July 11, 2017.
Lake Area Corn Processors, LLC owns and manages an ethanol plant that has a nameplate production capacity of 100 million gallons of ethanol per year through its wholly owned subsidiary Dakota Ethanol, L.L.C. The Companyâs segments include Production and Ethanol Producing Equity Method Investments. The Production segment includes the manufacture and marketing of fuel-grade ethanol and co-products of the ethanol production process. The Ethanol Producing Equity Method Investments segment consists of the aggregation of the Company's two equity method operating segments of investment in Guardian Hankinson, LLC, and investment in Ring-neck Energy & Feed, LLC. Fuel grade ethanol is its primary product. The Company also sells distillers grains and corn oil, the principal co-products of the ethanol production process. The ethanol plant produces at a rates more than 98 million gallons of ethanol per year.
LAKE AREA CORN PROCESSORS, LLC 
