International feed ingredients supplier Gavilon has purchased $4M of convertible junior subordinated notes in American ethanol producer E Energy Adams, with the option to convert the notes into equity in the ethanol production facility.
E Energy Adams also produces 175,000 tons of dried distillers grains each year at its plant in Nebraska. The companies have signed a five-year marketing agreement providing Gavilon exclusive rights to market all of the ethanol and dried distillers grains produced by the ethanol plant.
Gavilon currently markets approximately 800 million gallons of ethanol each year and has exclusive marketing agreements in place with five ethanol plants. The company is licensed in 48 U.S. states and has more than 100 customers.
