LICENSING AGREEMENT

For Ethanol Production Process

THIS LICENSING AGREEMENT is made and entered into this 20th day of November, 2001 by and between Broin and Associates, Inc., a South Dakota corporation located at 2209 East 57th Street North, Sioux Falls, SD 57104, (hereinafter referred to as Licensor) and Great Plains Ethanol, LLC, located at P.O. Box 172, Lennox, SD 57039 (hereinafter referred to as Licensee).

WHEREAS, the Licensor is in the business of designing and building dry mill ethanol plants; and

WHEREAS, Licensor and Licensee have entered into a Construction Contract dated as of even date herewith (Construction Contract) to construct the dry mill ethanol plant near Chancellor, SD (Facility).

WHEREAS, Licensee has chosen Licensor as Design/Builder to construct the Facility because that Licensor has expertise in the design and construction of ethanol plants; and

WHEREAS, the Licensor possesses certain proprietary technology, design information and operational information (hereinafter referred to as the Technology, as set forth in Exhibit 2A); and

WHEREAS, the Licensee wishes to license a plant design and its associated proprietary design and operational information from the Licensor; and

WHEREAS, the parties hereto are entering into a Confidentiality and Nondisclosure agreement which is attached hereto as Exhibit 2B.

NOW, THEREFORE, in consideration of the foregoing mutual covenants and agreements set forth herein, the parties agree as follows:

Agreement

1.0          THE TECHNOLOGY

The Licensors Technology refers to all proprietary rights, including patents, copyrights, trade secrets, formulas, research data, processes, know-how and specifications related to the Licensors design and construction of the Facility identified in Exhibit 2A.

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