VERBIO acquires Biodiesel Facility in Dain City (Canada) - closing of transaction completed

July 11, 2019 15:15PM

Dain City (Canada)/Leipzig (Germany), 8th July 2019 – German biofuel expert VERBIO further
expands to North America. VERBIO Diesel Canada Corporation - a VERBIO affiliate - successfully
closed the acquisition of a biodiesel facility in Dain City (Ontario, CN) on 5th July 2019. Signing of
purchase agreement between VERBIO and Atlantic Biodiesel Corporation was already announced
on 2nd May 2019. Closing was subject to certain conditions which have now been fulfilled and
transaction has been completed.

The plant has an annual production capacity of approximately 150,000 tons of biodiesel and
18,000 tons of raw glycerin. Production is likely to be recommenced in August 2019.

Promoting international growth and globalization

“The political conditions leave us with only little potential for growth in the German biofuels market,
hence our expansion focus is on Asia and North America. The new biodiesel facility is perfectly
equipped to implement our leading technology. Furthermore, we retain well-experienced employees
who operated production in the past. Another advantage of the plant is the excellent connection
to the railway infrastructure making it easy to bring in raw materials and deliver goods to the market
quickly. The total package convinced us. We are positive that Dain City will be a perfect base for
VERBIO to enter into the North American biodiesel market”, VERBIO COO Theodor Niesmann
says.

“The North American biofuels market is in demand of approximately nine million tons of biodiesel
each year – and that number is continuing to rise. This opens up promising strategic and economic
perspectives for further internationalization making VERBIO more independent from the ups and
downs of the European biofuels market”, Theodor Niesmann concludes.

Biodiesel and crude glycerin capacities significantly increased

North American biodiesel is based on soybean and canola oil. Canola is similar to rapeseed oil
which is mainly used for European biodiesel production. The joint product glycerin is used in the
cosmetics, food and pharmaceutical industry. VERBIO has operated two biodiesel plants in Germany
since 2001 the production capacity of which comes to 470,000 tons biodiesel per year. Combined
with the additional capacity of the Canadian plant VERBIO’s total production capacity increases
to around 620,000 tons biodiesel per year.

CLICK HERE to download the official press release.