0001140361-17-021179.txt : 20170517 0001140361-17-021179.hdr.sgml : 20170517 20170517163708 ACCESSION NUMBER: 0001140361-17-021179 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20170515 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20170517 DATE AS OF CHANGE: 20170517 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Lincolnway Energy, LLC CENTRAL INDEX KEY: 0001350420 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL ORGANIC CHEMICALS [2860] IRS NUMBER: 201118105 STATE OF INCORPORATION: IA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-51764 FILM NUMBER: 17851867 BUSINESS ADDRESS: STREET 1: 59511 W. LINCOLN HIGHWAY CITY: NEVADA STATE: IA ZIP: 50201 BUSINESS PHONE: 515-817-0153 MAIL ADDRESS: STREET 1: 59511 W. LINCOLN HIGHWAY CITY: NEVADA STATE: IA ZIP: 50201 8-K 1 form8k.htm 8-K

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)          
May 17, 2017 (May 15, 2017)

LINCOLNWAY ENERGY, LLC
(Exact Name of Registrant as Specified in Its Charter)

IOWA
000-51764
20-1118105
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)

59511 W. Lincoln Highway, Nevada, Iowa
50201
(Address of Principal Executive Offices)
(Zip Code)

(515) 232-1010
(Registrant’s Telephone Number, Including Area Code)

 
(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))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  
 


Item 8.01.  Other Events

Lincolnway Energy, LLC (the “Company”) has engaged Rayeman Elements, Inc. (“Rayeman”) to install a new grains drying and cooling system at the Company’s ethanol plant located in Nevada, Iowa.  On May 15, 2017, Rayeman issued a press release announcing the Company’s engagement of its services.  A copy of the press release is attached hereto as Exhibit 99.1.

Item 9.01.  Financial Statements and Exhibits

(d) Exhibits

Exhibit
Number
 
Description
99.1
 
Rayeman Elements, Inc. Press Release dated May 15, 2017
 

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.

 
LINCOLNWAY ENERGY, LLC
       
Date: May 17, 2017
By:
/s/ Eric Hakmiller  
   
Eric Hakmiller
 
   
President and Chief Executive Officer
 

 

Exhibit Index

Exhibit
Number
 
Description
 
Press Release dated May 15, 2017



EX-99.1 2 ex99_1.htm EXHIBIT 99.1

Exhibit 99.1
 
Rayeman Elements announces the sale of their second state-of-the-art DDG/Grain drying system to Lincolnway Energy of Nevada, Iowa

Rayeman Elements, Inc., in conjunction with its partner Nationwide 5 LLC, has completed the sale of their second production unit to Lincolnway Energy of Nevada, Iowa.  Rayeman Elements, based in Berthoud, CO has developed, designed, and manufactured a brand new, ground-breaking, patented grain drying system, the Rayeman Compression Dryer (“RCD”), targeting the grain and grain co-products markets.

Lincolnway Energy, LLC, located in Nevada Iowa, has been working to develop a high quality species specific animal feed, branded as PureStream™ Protein.  This product will target the growing swine and poultry markets in Iowa.  PureStream™ Protein is both higher in crude protein, and richer in the essential amino acids these animals need for growth than traditional DDG.  The Rayeman Compression Dryer system is ideal for this kind of product; it is inherently a low heat process which will not denature the proteins in the product as can happen in some drying systems, and the RCD is scalable, so production volumes can grow with sales.

Eric Hakmiller, President of Lincolnway Energy said, “We first saw this system at the vendor exhibit floor of the FEW in 2016.  We were very excited about the potential at the time and were one of the first to see the prototype when it was operational last fall.  Rayeman Elements and Nationwide 5 have been great to work with so far and we are looking forward to seeing PureStream™ Protein commercialized on this dryer system by the end of 2017”.

Mike Thomas, Vice President and Director of Technology of Rayeman Elements said “Working with Lincolnway on this project has been a terrific experience and we are excited to help them achieve their ultimate goals in grain drying.”

The Rayeman Compression Dryer is a unique drying system for the industry.    As wet grain goes in, the moisture in the grain meets two electrically heated, specially designed and patented screws inside a barrel. These screws intermesh with one another creating designated compression points that squeeze the water out of the grain, while simultaneously creating heat at low temperatures upon contact, and vaporizing the water within the grains at various flash points throughout the process. Additional heat is created naturally through shearing and compressing of the material from the rotating screws, causing this machine to conserve energy through self-generated low heat, and by squeezing water from the grain versus reaching heat of vaporization. The RCD process eliminates burning, and produces the highest nutritional value grain that is consistently a lighter, superior golden colored, more flowable grain; an attribute highly sought after in the business of grain exporting and feed.

In addition to the Rayeman Compression Dryer producing a superior quality grain, the required moisture levels are dialed in, meaning one has the flexibility to produce modified wets along the way, if desired.  The RCD emits far lower VOCs, which significantly reduces Regenerative Thermal Oxidizer (“RTO”) requirements by as much as 66%, and makes EPA permitting easier.  The RCD is explosion proof – providing unmatched safety and lower insurance rates. This technology offers a significantly smaller footprint than conventional dryers, and in comparison, a lower capital cost overall to purchase and operate - creating a win-win all around.

Lincolnway Energy, an ethanol and grain processor since May of 2006, continually strives to seek out and implement the safest and most efficient, methods of production and has found all of that in the Rayeman Compression Dryer.  Lincolnway Energy and Rayeman Elements, together, are scheduled to have the dual drying systems fully operational by late fall of this year.
 
Please visit Rayeman Elements, Inc. at www.rayemanelements.com for more information on the RCD and Lincolnway Energy, LLC at http://www.lincolnwayenergy.com for more information on their plant and grain buying options.