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) | August 25, 2010 |
SOUTHWEST IOWA RENEWABLE ENERGY, LLC |
(Exact Name of Registrant as Specified in Its Charter) |
| IOWA | 000-53041 | 20-2735046 |
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
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| 10868 189th Street, Council Bluffs, Iowa | | 51503 |
| (Address of Principal Executive Offices) | | (Zip Code) |
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| (712) 366-0392 |
| (Registrant’s Telephone Number, Including Area Code) |
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| (Former Name or Former Address, if Changed Since Last Report) |
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: □Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) □Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) □Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) □Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Item 1.01. Entry into a Material Definitive Agreement.
On August 25, 2010, Southwest Iowa Renewable Energy, LLC (“SIRE” or “we” or “us”) entered into a Tricanter Purchase and Installation Agreement (the “Agreement”) with ICM, Inc. (“ICM”). Pursuant to the Agreement, ICM is selling us a tricanter oil separation system (the “Equipment”). In addition, ICM will install the equipment at our ethanol plant in Council Bluffs, Iowa. Once installed, the Equipment will separate corn oil from the post-fermentation syrup stream as it leaves th e evaporators of the ethanol plant. The corn oil is then routed to storage tanks, and the remaining concentrated syrup is routed to the plant’s syrup tank. Depending on our end users, the corn oil can be marketed as either a feed additive or a biodiesel feedstock. Because of the process we will be utilizing, the corn oil is not viable as a food grade commodity without further processing. In the Agreement, ICM makes certain customary warranties regarding the equipment, and, in addition, warrants that the Equipment will produce 0.5 pounds of non-food grade quality corn oil per bushel of ground corn during a three day performance test conducted by ICM. In addition, ICM has agreed to indemnify and hold us harmless from all claims, demands, liabilities, actions, litigations, losses, damages, costs and expenses (including reasonable attorneys’ fees) arising out of the infringement of adversely owned patents, copyrights or any other intellectual property rights in connection with our purchase and/or use of the Equipment. ICM is currently a member of SIRE and is the sole owner of our Series C Units.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| | 10.1 | Tricanter Purchase and Installation Agreement by and between ICM, Inc. and Southwest Iowa Renewable Energy, LLC dated August 25, 2010. Portions of the Agreement have been omitted pursuant to a request for confidential treatment. |
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.
Date: August 31, 2010
| | SOUTHWEST IOWA RENEWABLE ENERGY, LLC | |
| | | | |
| | By: | /s/ Brian Cahill | |
| | | Brian Cahill | |
| | | General Manager, President, and Chief Executive Officer | |
Exhibit Index
Exhibit
Number Description
| 10.1 | Tricanter Purchase and Installation Agreement by and between ICM, Inc. and Southwest Iowa Renewable Energy, LLC dated August 25, 2010. Portions of the Agreement have been omitted pursuant to a request for confidential treatment. |
