Verbio North America Holdings Corporation has acquired South Bend Ethanol in Indiana, making it the company’s second U.S. production facility following the successful commissioning of its Nevada, Iowa plant. Verbio intends to subsequently expand and develop the plant into a modern biorefinery at an estimated total investment of $230 million.

“We are excited about the opportunity to integrate the production of ethanol with renewable natural gas
(RNG) in the state of Indiana,” comments Stefan Schreiber, Executive Board Member for North America
of Verbio AG, the German based parent company. “We believe this transaction provides an excellent path
for Verbio to further strengthen its North America business and growth strategy. The site offers a
competitive location as well as existing infrastructure and meets our requirements for access to the natural
gas grid, electricity, feedstock sources and water supply.”

Verbio will retain the assets of the existing ethanol plant and seek to improve yields and reduce energy
consumption over the next several months. The investment will incorporate additional equipment and
processes necessary to produce value-added by-products, such as liquid fertilizers. Further, the Inflation
Reduction Act of 2022, aiming to boost investments in climate protection and clean energy in the United
States, offers provisions that will benefit the Verbio project.