Granite Falls Energy to invest $7.5 million in Ring-neck Energy & Feed

In South Dakota, Fagen Energy will be the finance agent facilitating Granite Falls Energy’s purchase of 1,500 capital units—equating to $7.5 million—of the proposed Ring-neck Energy & Feed near Onida. The company said in a 8-K SEC Filing that it expects the investment to be illiquid and to not generate returns for a “significant amount of time” but will have the right to appoint someone to Ringneck’s future board of directors. Fagen was the main contractor for building Granite Falls Energy in Minnesota as well.