02/20/15 11:37:27 AM|
SIRE is a state of the art dry-mill grain processing facility that produces over 110 million gallons of fuel grade ethanol per year. It also produces over 365,000 tons of Dried Distillers' Grain (DDGs) annually and has the ability to produce Wet Distiller Grains (WDGs). It also produces approximately 90,000 lbs per day of corn oil. The facility will consume over 44.6 million bushels of corn feedstock annually. The grain originates from a large portion of southwest Iowa and several counties in southeast Nebraska.
SIRE is a Limited Liability Company incorporated in the State of Iowa on March 8, 2005. The owners of SIRE have positioned the Company to be a locally controlled business enterprise providing farmers and local investors with the chance to extract added value through ownership of a processing plant that can convert corn to a higher value product.
SIRE originated from a crop producer organization known as Iowa Quality Producers Alliance (IQPA). In 2005, a subset of IQPA leaders and other producer leaders founded SIRE. In September of 2005, after an initial feasibility study, the Company's 19 founders made a decision to pursue acquisition of an industrial park south of Council Bluffs. An additional 45 seed investors were welcomed to procure equity to support project development costs. A third equity drive occurred in 2006. SIRE raised $74 million in total equity with Bunge and ICM investing in the company, along with over 750 individual unit holders. Today SIRE membership is over 800 members, many of these individuals representing area farmers, local banks and other midwest agriculture business owners.