Platte Valley Distillers Closes $20 Million From CEI Capital Management to Begin Operations

Platte Valley Distillers has closed on $20 million in New Markets Tax Credit capacity from CEI Capital Management LLC, enabling the company to begin manufacturing high-quality feed for livestock out of distillers grain using a proprietary, patented new process.

Distillers grain is an agricultural byproduct of ethanol and grain production. Platte Valley Distillers will use its licensed and innovative technology to capture the protein-rich elements from ethanol production and process it into feed cube and pellet products for livestock. The company will focus on direct manufacture, and expand adoption of the technology to other licensed facilities through the manufacture and refurbishment of production equipment.

Platte Valley Distillers’ business is not only a boon to the farmers and ranchers who will able to purchase their product, but also to the surrounding community of Lexington, NE where it will increase jobs, serve as signal of stability in the community, and provide opportunities for future growth and expansion, especially in the agricultural technology sector. The new operation is projected to add 14 full-time equivalent jobs. The financing includes an additional community benefit toward the creation of the next generation of ag-tech workers through a $50,000 scholarship fund for qualifying students.

U.S. Bancorp Community Development Corporation provided the New Market Tax Credits equity with Lincoln Savings Bank providing the debt financing for the transaction.