Southwest Iowa Renewable Energy, LLC Announces Board and Committee Changes
March 26, 2019 at 10:03 pm IST
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Series B Director Jason Klootwyk voluntarily tendered his resignation from the Board of Directors of Southwest Iowa Renewable Energy, LLC effective March 21, 2019. Mr. Klootwyk served on the Board as a designee of Bunge North America Inc. Effective March 21, 2019, Bunge, as the sole Series B Member and pursuant to the Company’s Fourth Amended and Restated Operating Agreement dated March 21, 2014, appointed Andres Martin as the Series B Director of the Company to replace Mr. Klootwyk. Mr. Martin is expected to serve on the Corporate Governance/Compensation Committee. Mr. Martin will participate in the Company’s standard director compensation policy as disclosed in the Company’s most recent Proxy Statement filed with the Securities and Exchange Commission on December 14, 2018.
Southwest Iowa Renewable Energy, LLC is engaged in the production of ethanol. The Company sells its ethanol, distillers grains, corn condensed distillers soluble, distillers corn oil and carbon dioxide (CO2) in the continental United States, Mexico and the Pacific Rim. Its production facility (the Facility) is located in Pottawattamie County in southwestern Iowa, south of Council Bluffs. The principal purchasers of ethanol are wholesale gasoline marketers or blenders. The Company produces approximately 123.3 million and 127.0 million gallons of ethanol. It produces two forms of distillers grains, namely wet distillers grains with solubles (WDGS) and dried distillers grains with solubles (DDGS). The Company's system separates corn oil from the post-fermentation syrup stream as it leaves the evaporators of the ethanol plant. The corn oil is then routed to storage tanks, and the remaining concentrated syrup is routed to the plantâs syrup tank.
SOUTHWEST IOWA RENEWABLE ENERGY, LLC 
