Noble Group completes sale of Indiana ethanol plant

By Erin Voegele | January 05, 2018

On Jan. 2, Noble Group Ltd. announced it completed the sale of its interest in Noble Americas South Bend Ethanol LLC to Mercuria Investments US Inc. on Dec. 12 for a final consideration of $18.1 million. The announcement was made in a filing to the Singapore Exchange. Noble Group first announced plans to sell the ethanol plant to Mercuria Investments in early December. 

The 102 MMgy ethanol plant is located South Bend, Indiana. Noble purchased the then idle plant in 2013 for $2.3 million at a bankruptcy auction. The ethanol plant first began producing in 1984 and was previously owned and operated by New Energy Corp. 

Following its purchase by Noble, ICM began a retrofit of the facility in late 2013. The plant was brought back online in 2015.