VERIBO to Acquire DuPont’s Nevada
VERIBO a North American corporation signed a contract with DuPont to acquire its cellulosic ethanol plant located in Nevada, USA. The contract is signed by the 51% subsidiary of VERIBO, Vereinigte BioEnergie AG. The ethanol plant has the capacity for processing around 3,00,000 corn stalks and around 1,15,000 cubic meters of ethanol. The acquisition includes 1,00,000 tons of baled corn stalks located nearby to the manufacturing plant. The closing of the contract is expected to be fulfilled by end of this year.
Owing to this acquisition VERIBO announces plans to supplement its existing plant manufacturing straw bio-methane. Also, the plan to start construction of renewable natural gas operating in 2019 and also start the commercial production of renewable transportation fuel by 2020.
About VERIBO - VERIBO is considered to be one of the major producer of biodiesel, bioethanol and biomethane in Europe. It has huge production capacity around 4,70,000 tons bio-diesel, 600-gigawatt hours bio-methane per year and 2,60,000 tons bioethanol. VERBIO delivers its products directly to the mineral oil trading companies, European mineral oil conglomerates, municipal utilities, independent gas stations, vehicle fleets, and freight forwarders.
About DuPont - DuPont is an American multinational chemical corporation. It is considered to be one of the largest chemical company as per market capitalization. DuPont merged with Dow chemicals which is considered to be the largest chemical firm owing to the sales. DuPont is a subsidiary of Dow Chemicals. Some of the major beliefs of DuPont as a firm include, Environmental Stewardship, Highest Ethical Behavior, Respect for People, and Safety and Health.
— Vasundhra Singh,
Assistant Research Executive,