Attached files
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| EX-99.1 - RED TRAIL ENERGY, LLC | v205987_ex99-1.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): December 14, 2010
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RED
TRAIL ENERGY, LLC
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(Exact
name of registrant as specified in its charter)
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North
Dakota
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000-52033
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76-0742311
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(State
or other jurisdiction of incorporation or organization)
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(Commission
File Number)
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(I.R.S.
Employer Identification No.)
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P.O.
Box 11, 3682 Highway 8 South
Richardton,
North Dakota 58652
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(Address
of principal executive offices)
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(701)
974-3308
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(Registrant’s
telephone number)
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Check the appropriate box below if
the Form 8-K filing is intended to simultaneously satisfy the filing obligation
of the registrant under any of the following provisions (see General Instruction A.2.
below):
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
On
December 14, 2010, Red Trail Energy, LLC (the “Company”) received a fully
executed version of the Mediated Settlement Agreement (the “Settlement
Agreement”) it entered into with Fagen, Inc. and Fagen Engineering, LLC,
(collectively referred to as "Fagen"), and ICM, Inc. ("ICM"). The
subject of the Settlement Agreement is the negotiated resolution of having to
change the fuel source for Company’s ethanol plant from lignite to
sub-bituminous coal. The effective date of the Settlement Agreement
is November 8, 2010.
The
financial terms of the Settlement Agreement will only be enforceable if the
Company’s ethanol plant achieves the required emissions standard (“Required
Emissions Standard”) as defined in the Settlement Agreement. The Required
Emissions Standard is generally the North Dakota permit limits for emissions
originating from the ethanol plant’s boiler, namely PM/PM10, VOC, SO2, NOx, CO
and opacity. The Company, Fagen and ICM will cooperate to make
certain plant modifications to enable the plant to meet the Required Emissions
Standard and then engage in an emissions testing protocol to determine whether
the Required Emissions Standard has been met. The Company anticipates
the timing of the emissions testing to take place during the 2011 fiscal
year.
Pursuant
to the terms of the Settlement Agreement, Fagen, with assistance from ICM, will
provide operational and engineering assistance and recommend reasonable and
industry accepted improvements to the Company for the purpose of assisting the
ethanol plant in achieving the Required Emissions Standard. The Company
and Fagen will split, on an even 50/50 basis, the costs of making Fagen's
recommended improvements to the ethanol plant so that the ethanol plant achieves
the Required Emissions Standard. However, the Company shall be solely
responsible for the cost of installing a flue gas recirculation, syrup injection
and a steam separator. Fagen and ICM shall be given the opportunity to
witness, inspect, and verify the operability of the completed improvements
installed by the Company.
Item 9.01 Financial Statements
and Exhibits
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(a)
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None.
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(b)
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None.
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(c)
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None.
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(d)
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Exhibits
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Exhibit
No.
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99.1
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Mediated
Settlement Agreement between Red Trail Energy, LLC, Fagen, Inc. and Fagen
Engineering, LLC, and ICM, Inc. dated November 8, 2010.
+
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(+)
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Confidential
Treatment Requested.
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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RED
TRAIL ENERGY, LLC
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December
17, 2010
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/s/
Kent Anderson
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Kent
Anderson, Chief Financial Officer
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