Dear NDSP Investor

You are receiving this letter because you have invested or have received a prospectus on investing in the project and I wanted to give you an update on where we stand.

Our project is progressing, and we will complete (or have completed) several major milestones by the end of November these include:

  • Completing all necessary utility contracts
  • Executing the land lease letter of intent
  • Finalizing the process steam agreement with Great River Energy
  • Obtaining all necessary permits to construct the facility
  • Receiving a commitment letter from our senior debt holder securing bank financing for the debt
  • Completing contracts necessary from KFI and McGough to construct the facility

The last major milestone to closing escrow and beginning construction is the raising of $90M-$120M of equity, we have not been holding meeting over the last thirty days due to so many of you and other potential investors being busy with harvest. To date we have raised just under $68M (this includes Minnesota Soybean Processor’s investment) and have received $2M from the ND Development Fund and $103 K from the ND Agricultural Products Utilization Commission (APUC).

We will be holding informational meetings throughout the region both in person at NDFU events and other venues as well as digital web based meetings. These will be advertised as they occur and will be posted on our website

In addition the management and staff of NDSP have been meeting with potential strategic partners to secure larger investments. These efforts have yielded opportunities that could have significant positive impacts on the project’s financial performance and returns on investment. We are very excited about these opportunities and will share more details as they unfold.

Our project is progressing and still very much a “go”. If you have questions please don’t hesitate to contact me at 507-842-6696 or Robin Skrivan at (507) 842-6715.


Scott Austin, CEO

Robin Skrivan (507) 842-6715 -

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