Zörbig/Leipzig, May 2, 2019 – VERBIO Diesel Canada Corporation, a wholly owned subsidiary of VERBIO Vereinigte BioEnergie AG, has signed a contract today with Atlantic Biodiesel Corporation to purchase a biodiesel plant located in Dain City, Ontario, Canada. The plant has an annual production capacity of approximately 150,000 tons of biodiesel and 18,000 tons of raw glycerin. The North American biodiesel market has an annual demand of approximately 9 million tons of biodiesel based on soy and canola oil. Canola is comparable to rapeseed. Pending resolution of certain conditions the closing is expected by mid-year 2019.
With this transaction, VERBIO is consistently pursuing its internationalization strategy with regard to the growing biofuel market in North America. The purchase price will be financed by using VERBIO AG’s freely available cash and internal cash flow.
Information about VERBIO Vereinigte BioEnergie AG (VERBIO)
VERBIO is one of the leading independent producers and suppliers of biofuels, and is also the only large-scale producer of biodiesel, bioethanol and biomethane in Europe. The annual production capacity amounts to approximately 470,000 tons of biodiesel, 260,000 tons of bioethanol and 600 gigawatt hours of biomethane. The Company produces its highly efficient fuels using internally developed, energy efficient production processes and innovative technologies. VERBIO’s biofuels achieve CO2 reductions of up to 90 percent compared to petrol or diesel. VERBIO delivers its products directly to European oil companies, oil trading companies, independent filling stations, freight forwarders, municipal utilities and vehicle fleets. In addition VERBIO markets high-quality pharmaceutical glycerine for the consumer goods and cosmetics industry (glycerine is produced as a by-product in the production of biodiesel) as well as animal feed and fertiliser, a by-product of bioethanol and biomethane production. Within the Group, VERBIO Vereinigte BioEnergie AG acts as a management holding company. The operative business is conducted by the subsidiaries VERBIO Diesel Bitterfeld GmbH, VERBIO Diesel Schwedt GmbH & Co. KG, VERBIO Ethanol Schwedt GmbH & Co. KG, VERBIO Ethanol Zörbig GmbH & Co. KG, VERBIO Agrar GmbH, VERBIO Logistik GmbH and VERBIO Polska Sp. z o.o. The VERBIO share (ISIN DE000A0JL9W6/WKN A0JL9W) has been listed in the prime standard segment of the Frankfurt Stock Exchange since October 2006.
This publication contains certain forward-looking statements concerning the VERBIO group of companies. The forward-looking statements contained herein represent the judgment of VERBIO as of the date of this release and involve risks and uncertainties. Should actual conditions differ from the Company's assumptions, actual results and actions may differ from those anticipated. VERBIO does not intend to update any of these forward-looking statements as far as the wording of the relevant publication is concerned.