Sept 19, 2017
Claremont, Minnesota – By an overwhelming majority the membership of Al-Corn Clean Fuel has voted to convert from a cooperative to a Limited Liability Company (LLC). The results of the shareholder vote were announced this morning by Rodney Jorgenson, Chairman of the Board of Al-Corn Clean Fuel.
Al-Corn Clean Fuel, LLC will be acquiring all of its corn for operations on the open market through traditional pricing methods, as well as average pricing contracts and other methods as determined by management.
“Without our member’s willingness to grow and compete in an ever changing business environment, we wouldn’t be here today.” said Rod Jorgenson, President of Al-Corn Clean Fuel. “We have begun moving forward to allow the conversion to become a reality while ensuring our current operations continue running smoothly”.
Al-Corn Clean Fuel, LLC is currently expanding and modernizing the Claremont facility from 50 million gallons per year to 120 million gallons per year, including storage for 1.5 million bushels of corn to facilitate deliveries. Once complete, the expansion will require an additional 25 – 27 million bushels of corn annually.
“By increasing the production capacity of the Claremont plant, we will be able to drive down cost of production and reach better price markets. The conversion to an LLC was necessary for Al-Corn Clean Fuel to realize the full potential of the expansion and modernization project” said Jorgenson.