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POET Biorefining - Bingham Lake

Trading Status: Inactive
Web Site: http://www.poet.com
SEC Filing(s): No
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POET Biorefining - Bingham Lake Logo

 Effective May 17, 2018, the Southwest Minnesota Agrifuels board has suspended all trading of its units until further notice.  If you have any questions, please call Dan Kelly at 507-822-1153.

Southwest Minnesota Agrifuels, LLC (“SMA”), a Minnesota limited liability company, owns and manages a 51.28% partnership interest in its subsidiary, Ethanol2000, LLP (d/b/a POET Biorefining – Bingham Lake), a Minnesota limited liability partnership which owns and operates an ethanol biorefinery in Bingham Lake, Minnesota (http://poet.com/binghamlake).  POET, LLC and an affiliate of POET own the remaining partnership interests in POET Biorefining – Bingham Lake.
POET Biorefining – Bingham Lake was formed in 1996 in partnership between POET and SMA. The biorefinery, which processes approximately 12 million bushels of corn annually, produces annually 35 million gallons of ethanol and 93,500 tons of distillers grains for livestock feed. Originally built in 1997 as an 11 million ethanol gallon facility, the biorefinery expanded to 35 million ethanol gallons in 2001. The biorefinery employs 40 people.
SMA was originally organized as a cooperative in 1994, but converted to a limited liability company in 2009.  SMA is owned by approximately 300 members, most of whom are farmers who reside in Minnesota.  There are 5,047,500 membership interests issued and outstanding in SMA, all of which are owned by the 300 members.  SMA’s sole asset is its partnership interest in POET Biorefining – Bingham Lake; therefore, SMA’s revenue and income is solely dependent upon the financial condition and success of POET Biorefining – Bingham Lake.

*** Trading to begin on 1/01/2016***

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