Welland, Ontario, CANADA.
Project Overview: VERBIO Diesel Canada Corporation, a wholly owned subsidiary of VERBIO Vereinigte BioEnergie AG, has purchased a biodiesel plant located in Dain City, Welland, Ontario, Canada from Atlantic Biodiesel Corporation.
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.
With this transaction, VERBIO is consistently pursuing its internationalization strategy with regard to the growing biofuel market in North America. The purchase price was financed by using VERBIO AG’s freely available cash and internal cash flow.