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Private company

Granite Falls Energy, LLC

American industrial organic chemicals company based in Granite Falls2

In its 2022 annual report the company says: “Granite Falls Energy, LLC is a Minnesota limited liability company formed on December 29, 2000 for the purpose of constructing, owning and operating a fuel-grade ethanol plant located in Granite Falls, Minnesota. Our business consists primarily of the production and sale of ethanol and its co-products (wet, modified wet and dried distillers’ grains, corn oil and corn syrup) locally, and throughout the continental U.S. However, as markets allow, our products can be, and have been, sold in the export markets.”40

Last updated Oct 21, 2026.

Overview

  • IndustryIndustrial Organic Chemicals2
  • HeadquartersGranite Falls, United States2
  • Incorporated inMN3
  • Business address15045 Highway 23 S.E., Granite Falls, Mn 56241-02163
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formLimited Liability Company2
  • LEI549300U7OXLIFUWFPC842
  • StatusActive2
  • LEI statusIssued and current2
  • Registered address15045 Hwy 23 SE, 56241 Granite Falls, United States2
  • Registered withOffice of the Minnesota Secretary of State Business & Lien system, 20191-LLC2

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2021

8.6%Gross margin4
6.0%Operating margin4
8.4%Net margin4
87.7%Revenue growth, 20214

Where the money goes

Where each dollar of revenue went, fiscal 2021

  • Cost of revenue91¢$282.8M
  • Interest0¢$802.3K
  • Profit8¢$26.0M

Out of $309.6M in revenue.4

Where each dollar of operating cash went, fiscal 2021

  • Kept or used elsewhere100¢$19.9M

Out of $19.9M of cash from operations.4

Financial statements

Revenue56784$309.6M in 2021+34% since 2015
0$100.0M$200.0M$300.0M$400.0M2015: $231.3M$231.3M20152016: $215.5M$215.5M2016−7%2017: $215.8M$215.8M2017+0%2018: $210.3M$210.3M2018−3%2019: $208.8M$208.8M2019−1%2020: $165.0M$165.0M2020−21%2021: $309.6M$309.6M2021+88%
Gross profit56784$26.8M in 2021+18% since 2015
-$20.0M-$10.0M0$10.0M$20.0M$30.0M2015: $22.6M$22.6M20152016: $16.9M$16.9M2016−25%2017: $21.1M$21.1M2017+25%2018: $9.6M$9.6M2018−55%2019: -$3.8M-$3.8M20192020: -$11.1M-$11.1M2020+193%2021: $26.8M$26.8M2021
Operating income56784$18.6M in 2021+7% since 2015
-$30.0M-$20.0M-$10.0M0$10.0M$20.0M2015: $17.4M$17.4M20152016: $11.6M$11.6M2016−34%2017: $14.9M$14.9M2017+29%2018: $3.3M$3.3M2018−78%2019: -$10.3M-$10.3M20192020: -$21.0M-$21.0M2020+105%2021: $18.6M$18.6M2021
Net income9784$26.0M in 2021+92% since 2015
-$40.0M-$20.0M0$20.0M$40.0M2015: $13.6M$13.6M20152016: $8.7M$8.7M2016−36%2017: $15.1M$15.1M2017+73%2018: $3.4M$3.4M2018−78%2019: -$11.0M-$11.0M20192020: -$20.6M-$20.6M2020+87%2021: $26.0M$26.0M2021
Fiscal year2015201620172018201920202021
Revenue$231.3M5$215.5M6$215.8M7$210.3M7$208.8M8$165.0M4$309.6M4
Cost of revenue$208.7M9$198.6M9$194.7M7$200.7M7$212.6M8$176.0M4$282.8M4
Gross profit$22.6M5$16.9M6$21.1M7$9.6M7-$3.8M8-$11.1M4$26.8M4
Operating income$17.4M5$11.6M6$14.9M7$3.3M7-$10.3M8-$21.0M4$18.6M4
Interest$525.1K5$453.4K6$323.7K7$512.1K7$520.3K8$552.5K4$802.3K4
Net income$13.6M9$8.7M9$15.1M7$3.4M7-$11.0M8-$20.6M4$26.0M4

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Corporate structure

Granite Falls Energy, LLC sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Granite Falls Energy, LLC

  • Granite Falls Energy, LLC Granite Falls, Minnesota, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Granite Falls Energy, LLC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$167.9M4 Oct 31, 2021$165.7M4 Oct 31, 2020+1.3%
Accumulated depreciation$118.1M4 Oct 31, 2021$110.7M4 Oct 31, 2020+6.7%
Property and equipment, net$49.7M4 Oct 31, 2021$55.0M4 Oct 31, 2020−9.6%
Operating-lease assets (leased space)$15.8M4 Oct 31, 2021$19.4M4 Oct 31, 2020−18.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$29.3M4 Oct 31, 2021$11.4M4 Oct 31, 2020+156.5%
Stakes in other companies (equity method)$14.5M4 Oct 31, 2021$9.8M4 Oct 31, 2020+48.2%

Inventory

ItemLatestA year beforeChange
Inventory, total$20.7M4 Oct 31, 2021$13.8M4 Oct 31, 2020+50.5%
Raw materials$10.7M4 Oct 31, 2021$4.9M4 Oct 31, 2020+119.5%
Work in process$2.0M4 Oct 31, 2021$1.5M4 Oct 31, 2020+36.7%
Finished goods$4.7M4 Oct 31, 2021$4.3M4 Oct 31, 2020+7.2%
Supplies$3.3M4 Oct 31, 2021$3.1M4 Oct 31, 2020+8.2%

Leadership

Who has led Granite Falls Energy, LLC, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Tracey Olson2011
  2. Steve A. Christensen2015

Chair

  1. Paul Enstad2006

Chief financial officer

  1. Stacie Schuler2011
2010201520202025
Board members and other officers (17)

Former names

  • GRANITE FALLS COMMUNITY ETHANOL PLANT LLCAug 16, 2002 to Mar 8, 20063

Timeline

  1. Nov 4, 20228-K Shareholder vote32
  2. Jun 22, 20228-K Shareholder vote; Other events33
  3. Mar 8, 20228-K Regulation FD disclosure; Other events34
  4. Dec 27, 20218-K Results of operations; Regulation FD disclosure; Other events35
  5. Oct 1, 20218-K Entered a material agreement; Ended a material agreement; Completed an acquisition or sale36
  6. Dec 2, 2015New chief executive Steve A. Christensen becomes CEO14
  7. Apr 7, 2011New chief executive Tracey Olson becomes CEO15
  8. Dec 29, 2000Founded Granite Falls Energy, LLC is founded2

Calendar

When it reported results

  1. Dec 27, 2021Reported quarterly or annual results35

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

26 filings to the SEC since October 2021: 2 annual reports, 3 quarterly reports, 5 major events, 1 large holders, 15 other. The latest 20:

  1. Nov 15, 2022SC 13E3/A EDGAR
  2. Nov 15, 202215-12G EDGAR
  3. Nov 15, 2022SC 13E3/A EDGAR
  4. Nov 4, 20228-K EDGAR
  5. Oct 31, 2022PX14A6G EDGAR
  6. Oct 3, 2022DEFA14A EDGAR
  7. Sep 14, 202210-Q EDGAR
  8. Sep 9, 2022SC 13E3/A EDGAR
  9. Sep 9, 2022DEFA14A EDGAR
  10. Sep 9, 2022DEF 14A EDGAR
  11. Aug 29, 2022CORRESP EDGAR
  12. Aug 29, 2022SC 13E3/A EDGAR
  13. Aug 29, 2022PRER14A EDGAR
  14. Aug 19, 2022UPLOAD EDGAR
  15. Jul 26, 2022SC 13E3 EDGAR
  16. Jul 26, 2022PRE 14A EDGAR
  17. Jun 22, 20228-K EDGAR
  18. Jun 14, 202210-Q EDGAR
  19. May 17, 2022DEF 14A EDGAR
  20. Mar 17, 202210-Q EDGAR

The 26 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$1.4M 2020–2021
Money received by yearMoney received by year, 2020–2021: $1.4M in all. PPP loans $1.4M.$0$200K$400K$600K$800K2020 · PPP loans: $703.9K20202021 · PPP loans: $703.9K2021
Figures by year
YearPPP loansTotal
2021$703.9K$703.9K
2020$703.9K$703.9K

PPP loans

Paycheck Protection Program loans of $150,000 and up, approved April 2020 to July 2021, from the SBA38. Matched to this company by name and state.

  1. Apr 8, 2020$703.9K PPP loan (first draw) from FM Bank38To GRANITE FALLS ENERGY, LLC, Granite Falls MN; $709.5K forgiven Feb 4, 2021
  2. Feb 3, 2021$703.9K PPP loan (second draw) from FM Bank38To GRANITE FALLS ENERGY LLC, Granite Falls MN; $707.0K forgiven Jul 20, 2021

SEC filer profile

How Granite Falls Energy, LLC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARGranite Falls Energy, LLC1
  • CIK0001181749
  • Employer ID (EIN)41-19973901
  • Filer statusNon-accelerated filer<br>smaller reporting company1
  • Incorporated inMinnesota1
  • Fiscal year endsOctober 311
  • Industry code (SIC)2860 Industrial Organic Chemicals1
  • Business address15045 Highway 23 S.E., Granite Falls, MN 56241-02161
  • Phone320-564-31001
  • Shares outstanding30,606 as of Sep 14, 202212
  • Public float$27.1M as of Apr 30, 202139
  • On EDGAR sinceAug 16, 20021
  • Filings372 in all: 8-K (110), 10-Q (45), 3 (25), 4 (23), SC 13D/A (20), DEF 14A (18), 10QSB (15), 10-K (14)1
    All 36 form types

    UPLOAD (11), CORRESP (9), 5 (8), 8-K/A (7), CT ORDER (7), PRE 14A (6), 10KSB (5), DEFA14A (5), POS AM (5), PRER14A (5), SC 13E3/A (4), 10-K/A (3), NT 10-K (3), NT 10-Q (3), SB-2/A (3), 424B3 (2), PX14A6G (2), SB-2 (2), SC 13D (2), SC 13G (2), 10-Q/A (1), 10KSB/A (1), 10QSB/A (1), 15-12G (1), 8-A12G (1), REGDEX (1), SC 13E3 (1), SP 15D2 (1)

  • Latest filingsAnnual report (10-K) Jan 31, 2022
    Quarterly report (10-Q) Sep 14, 2022
    Proxy statement (DEF 14A) Sep 9, 2022
    Latest 8-K (8-K) Nov 4, 2022

Sources

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