Home   |   Privacy   |   About Us   |   Forgot Password?

Glacial Lakes Corn Processors

Trading Status: Inactive
Web Site: www.glaciallakesenergy.com
SEC Filing(s): No
View Operations Manual
View Support Documents
Glacial Lakes Corn Processors Logo

Glacial Lakes Corn Processors (GLCP) is a South Dakota cooperative comprised of over 4,000 members.  Through its wholly-owned subsidiaries Glacial Lakes Energy, LLC and Aberdeen Energy, LLC, GLCP owns and operates 200+ mgy of ethanol production in South Dakota, as well as investments in Granite Falls Energy in Granite Falls, Minnesota, and Redfield, South Dakota.

Glacial Lakes Energy, LLC (GLE) constructed an original 40 mgy nameplate ethanol production facility in Watertown, South Dakota that underwent an expansion in 2007, and is currently operating at 100+ mgy of annual production.  Glacial Lakes Energy was formed in May 2001 as a joint venture between GLCP and Glacial Lakes Capital (GLC) to own and operated the Watertown facility.  In July 2004, GLE purchased the ownership held by GLC, and GLCP became the sole owner of GLE following the transaction.

GLE holds a 15% ownership investment in Granite Falls Energy, LLC, a 50 mgy ethanol production facility located near Granite Falls, Minnesota, and an 8% ownership investment and a board seat in Redfield Energy, LLC, a 50 mgy ethanol production facility located near Redfield, South Dakota.

GLCP is also the sole owner of Aberdeen Energy, LLC (doing business as “Glacial Lakes Energy – Mina”), which owns and operates a 100 mgy ethanol production facility near Mina, South Dakota.  The Mina production facility began operations in June of 2008.

In the fall of 2015, GLCP formed a “Domestic International Sales Corporation” known as an “IC-DISC” to take advantage of lower tax rates to its shareholders on income earned and distributed on export sales of ethanol and feed products it produces at its two ethanol production facilities.  As a result, effective October 1, 2015, shareholders of GLCP now own two companies; GLCP and the IC-DISC sales company through Holding Company, LLC.  The IC-DISC involves internal computations and support from GLCP, but does not lease space, employ personnel or own any assets.  The ownership interests in the two companies – common stock of GLCP and capital units of Holding Company – are stapled together, meaning that one interest cannot be transferred without the other, and a transfer or sale of GLCP common stock automatically transfers or sells the identical number of Holding Company capital units stapled to the common stock.

 GLCP and its Subsidiaries have continuously operated its facilities at or above nameplate capacity since 2002, and now purchase and process approximately 80 million bushels of locally grown corn annually, providing economic impact to the local agriculture industry and communities in which it serves, and to its member shareholders.


GLCP Membership Requirements and Membership Documents:  You must be or become a member to purchase shares of GLCP common stock.  To become a member of GLCP or to maintain a membership in GLCP:


  1. You must enter into a membership agreement and pay a one-time membership fee of $250.00.

  2. You must own a minimum of 2,500 shares of common stock.

  3. You must enter into a Uniform Marketing and Delivery Agreement under which you agree to deliver corn to GLCP facilities in proportion to your common stock ownership.

  4. You must meet other membership criteria or requirements established from time to time by the GLCP Board of Directors.

  5. All memberships are subject to the GLCP Articles of Incorporation and Bylaws.

  6. Membership documents and information you should read and understand before using the Trading Service and becoming a member of GLCP include:

  • As part of your ownership in Glacial Lakes Corn Processors, a South Dakota cooperative, you are required to deliver corn to supply our ethanol production facilities with a sufficient amount to maintain production.  We do this through our membership corn commitment (“call”).

  • Therefore, we have issued a corn call of 0.50 bushel per share owned for the 2018-2019 Fiscal Year (example: if you own 5,000 shares, your 2018-2019 corn commitment is 2,500 bushels).  The call will be effective for deliveries made from September 1, 2018 to August 31, 2019.  The annual open delivery system shall remain unchanged and again if you do not have access to corn, we will purchase the corn for you and in return, you will be assessed the pool fee.

  • The Pool Fee for the 2018-2019 Fiscal Year will be $0.008 per bushel (i.e.: you own 5,000 shares for a commitment of 2,500 bushels, your cost to use the pool system is $20.00)  Pool fees will be assessed on undelivered committed bushels at the end of the fiscal year, August 31, 2019.  If you do not intend to deliver any corn or deliver only a portion of your commitment, you do not need to notify us or send payment.  In order to streamline the process of the pool fee charge, improve efficiency and expediency, the pool fee amount will be automatically deducted from your patronage dividend check.  In addition, we will continue to handle the pool fee in this manner going forward.  We will automatically bill you for the undelivered committed bushels after the end of the fiscal year, August 31, 2019 if a dividend has not been declared.  Please do not mail your payment in until you are invoiced.

  • Freight incentives will be paid on actual deliveries of your corn commitment.  Only members who actually deliver on their commitment are eligible for these rates.  Freight rates for the fiscal year September 1, 2018 to August 31, 2019 are:


  • 0-10 miles $0.045

  • 11-20 miles $0.065

  • 21-30 miles $0.085

  • 31-40 miles $0.105

  • 41-50 miles $0.125

  • 51-60 miles $0.135

  • 61-70 miles $0.155

  • 71-80 miles $0.175

  • 81-90 miles $0.195

  • 91-100 miles $0.215

  • 101+ miles $0.235

  • Again this year, as a member, you have the opportunity to deliver your commitment to any of our facilities, Watertown, or Mina, whichever is most convenient for you.

  • ***IC-DISC Notice:  Effective October 1, 2015, GLCP completed the IC-DISC transaction resulting in shareholders owning two companies.  The ownership interests in the two companies (common stock and capital units) are “stapled” together, meaning that cannot be transferred without the other, and both interests automatically transfer together on the sale or purchase of GLCP common stock.  Because the two companies are taxed differently and have different tax years there will be differences between the two companies on allocation of income and payments of dividends on that income for buyers and sellers of GLCP common stock from January 1 through August 31, but only with respect to income earned during the first 4 months of GLCP fiscal year (September 1 – December 31).  On the IC-DISC side, income earned during the first 4 months of GLCP fiscal year and dividends paid on that income will be paid to shareholders of record on December 31.  On the GLCP side, income earned during the first 4 months of GLCP fiscal year and dividends paid on that income is paid to shareholders of record at the end of the fiscal year (i.e. on the following August 31).  Both companies will allocate and pay dividends on income August 31.  Please see the “IC-DISC Full GLCP Information Statement”, in particular Question #20 in the Q&A section, under the “GLCP Support Documents” in the Summary page for more information on the IC-DISC transaction and the staple ownership interests. ***

  • NOTICE:  GLCP stock must be purchased and sold in 2,500 increments.  When “odd lots” of GLCP shares exist, the board of directors has authorized management to purchase these “odd lots” at current market values.  These shares will be purchased in strict accordance with the AgStockTrade.com website rules and the GLE Operating Manual.  “Odd Lot” shares purchased by GLCP will be retired and reduced from the total outstanding GLCP shares.


  • Employee Shares:  These shares are listed under “new” shares since they were not part of GLCP’s original issue in 2001; however, the shares were not issued at $2.00 as part of GLCP’s 2006 stock offering of new shares.  Instead, the shares were issued to employees pursuant to the GLE’s Stock Bonus Plan at the then current value of shares at the time of issuance. To the extent the shares were issued at less than $2.00 per share value, the shares will be subject to GLCP’s share revaluation preference provision in its Bylaws, and will be allocated more taxable gain on the sale of the company than new shares issued at $2.00.  For more information on the share revaluation preference and the difference between new shares and original shares, please visit our website.

  • If you have any questions, please contact Penni Tuttle or Marcy Kohl at 605-882-8480.  Thank you!



Original Shares and New Shares


  • GLCP’s original shares of common stock were issued at $2.00 per share in 2001.  Following original issuance, GLCP had approximately 7,738,314 shares outstanding.  In 2004, GLCP declared a 2-for-1 stock split.  In the summer of 2006, GLCP declared a 9-for-1 stock split, resulting in approximately 139,289,650 original shares of common stock outstanding in 2006, with contributed capital on the original shares of approximately $0.11 per share.
  • In the fall of 2006, GLCP issued approximately 47,500,000 of “new” shares of common stock at a price of $2.00 per share to help finance its expansion plans.
  • The original shares also may have additional taxable gain associated with them in the event of a taxable sale of assets or the subsidiary companies by GLCP, due to the difference of the $0.11 per share of contributed capital on the original shares and the $2.00 per share of contributed capital on the new shares (meaning the first $1.89 per original share of taxable gain on such a sale or disposition would be allocated to the original shares).
  • As of August 31, 2017, GLCP has 185,636,652 total shares of common stock outstanding.
  • The Board of Directors (“Board”) of Glacial Lakes Corn Processors (“GLCP” or the “Company”) has established a Disclosure of Information and Insider Trading Policy pursuant to authority granted under the Company’s Articles of Incorporation and Bylaws.  Please see “GLCP Support Documents” for a complete copy of the policy.

Investing in GLCP 2017 - 2018.pdf
Dividend Announcement Letter 05-25-17.pdf

Advanced BioEnergy, LLC
Bloomington, MN
Al-Corn Clean Fuel
Claremont, MN
Corn Plus
Winnebago, MN
East Kansas Agri-Energy, LLC
Garnett, KS
Glacial Lakes Corn Processors
Watertown, SD
Iowa Renewable Energy
Washington, IA
Lake Area Corn Processors, LLC
Wentworth, SD
POET Biorefining, LLC
Sioux Falls, SD
Redfield Energy, LLC
Redfield, SD
Ringneck Energy, LLC
Onida, SD
South Dakota Soybean Processors, LLC
Volga, SD
U.S. Premium Beef, LLC
Kansas City, MO
Western Dubuque Biodiesel, LLC
Farley, IA
Western Plains Energy, LLC
Oakley, KS
Home   |   Buy / Sell   |   Participating Companies   |   Register   |   About Us   |   How We Work   |   FAQ   |   Privacy   |   Contact Us