Chippewa Valley Agrafuels Cooperative is the general partner in Chippewa Valley Ethanol Company.
Chippewa Valley Agrafuels Cooperative (CVAC) is the general partner in Chippewa Valley Ethanol Company (CVEC), which is structured as a Limited Liability Limited Partnership (LLLP). CVAC is the company that owns the plant, property, and equipment and in turn leases those assets to CVEC. Additionally, CVAC contains the corn delivery requirement. Membership in CVAC is based on shares, which are equivalent to bushels of required corn delivery. The “shares” in CVAC equal the “units” in CVEC, i.e. one share owned equals one bushel of corn that needs to be delivered.
CVEC is the processing company.
CVEC is the processing company. All the employees and inventory reside in this entity. Along with CVAC, the shareholders are partners in CVEC. The structure of CVEC means tax liability is borne by the partners. The vast majority of income and expense items that flow to the Statement of Operations originate in CVEC. An investment in CVEC is based on units and the number of units represents the percentage of the company owned. The “units” in CVEC are equivalent to the “shares” in CVAC.
CVEC is the parent company to Glacial Grain Spirits.
CVEC is the parent company to Glacial Grain Spirits (GGS). GGS produces the industrial and beverage grade alcohol that is 100% owned by CVEC.
For more information, please visit www.glacialgrainspirits.com
CVEC has ownership in Renewable Products Marketing Group.
CVEC has ownership in Renewable Products Marketing Group (RPMG) along with 18 other ethanol producers. RPMG is an ethanol and co-products marketing company in which CVEC was one of two founding members. Headquartered in Shakopee, Minnesota, RPMG currently markets approximately 2 billion gallons of ethanol and 2.2 million tons of distillers grains annually.
CVEC has a variety of other investments.
Today, CVAC shareholders not only have ownership of the Benson, MN plant, but, through CVEC's outside investments, also have ownership interest in 8 other ethanol plants, across 6 states, representing more than 50 million gallons of additional fuel production capacity.
