THE SOUTH SIOUX CITY COUNCIL HAS APPROVED A SETTLEMENT TO END THE LITIGATION REGARDING THE CLOSED BIG OX FACILITY.

THE COMPREHENSIVE SETTLEMENT WITH WELLS FARGO, THE COLLATERAL TRUSTEE, AND N-L-C, EFFECTIVELY RESOLVES ALL OUTSTANDING LEGAL DISPUTES AND ENDS SEVERAL YEARS OF LITIGATION AND NEGOTIATIONS INVOLVING THE COMPANY THAT BUILT A WASTEWATER TREATMENT PLANT IN THE ROTH INDUSTRIAL PARK TO PROCESS MUNICIPAL WASTE INTO USABLE ENERGY BEGINNING IN 2016.

PROBLEMS DEVELOPED RESULTING IN BIG OX AND N-L-C ENERGY AGREEING TO A ONE POINT ONE MILLION DOLLAR CIVIL PENALTLY ASSESSED BY THE E-P-A FOR MULTIPLE HAZARDOUS DISCHARGES OF BIOMASS AND BIOGAS BETWEEN 2017 AND 2019 IN THE COMMUNITY.

THE COMPANY CEASED PRODUCTION ON MAY 1ST 2019 WHEN SOUTH SIOUX REFUSED TO RENEW THE WASTEWATER PERMIT FOR BIG OX.

SOUTH SIOUX CITY ADMINISTRATOR LANCE HEDQUIST SAYS THE CITY ALREADY HAS OTHER COMPANIES INTERESTED IN THE PROPERTY:

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BIGOX1 OC…….EASILY BE SOLD. :18

SOUTH SIOUX ALSO ACQUIRESTHE 42,960-SQUARE-FOOT INDUSTRIAL PLANT CURRENTLY ASSESSED BY DAKOTA COUNTY AT OVER $5.6-MILLION DOLLARS.

THAT INCLUDES OWNERSHIP OF A NATURAL GAS SKID, CONNECTED TO A MAJOR GAS LINE, WHICH ENHANCES THE PROPERTY’S RESALE AND REDEVELOPMENT POTENTIAL.

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BIGOX2 OC…FOR OUR COMMUNITY. ;13

SOUTH SIOUX CITY WILL PAY A TOTAL OF $9.75 MILLION, WITH $4.5 MILLION DUE IN 2025 AND THE REMAINING $5.25 MILLION TO BE PAID OVER 10 YEARS AT 0% INTEREST.

THE PAYMENTS WILL BE FUNDED THROUGH THE CITY’S UTILITY ACCOUNT, WHICH IS ANTICIPATED TO BENEFIT FROM INCREASED REVENUES DRIVEN BY INDUSTRIAL EXPANSION.

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BIGOX3 OC…GLAD TO SEE IT’S DONE. :07

THE SETTLEMENT RESOLVES ALL LAWSUITS AND LEGAL CLAIMS, ALLOWING THE CITY TO MOVE FORWARD FREE FROM ONGOING LEGAL COSTS, POTENTIAL LIABILITY, AND UNCERTAINTY.

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