Verbio completes sale of DuPont plant, wins IEDA support

By Erin Voegele | November 20, 2018

DuPont’s 30 MMgy cellulosic ethanol plant in Nevada, Iowa, is now under new ownership. Verbio North America Corp., the U.S. subsidiary of German bioenergy producer Verbio Vereinigte BioEnergie AG, completed its purchase of the plant on Nov. 20 and will soon move forward with plans to convert the facility to produce renewable natural gas (RNG).

Verbio first announced plans to purchase the former DuPont facility and a portion of its corn stover inventory on Nov. 8, roughly one year after DuPont put the plant up for sale.

DuPont broke ground on the Nevada ethanol plant in November 2012. The facility celebrated its grand opening in late October 2015. Just over two years later, on Nov. 2, 2017, the company announced plans to sell the plant

In a statement released Nov. 20, Greg Northup, president of VNA, said his company will now finalize its plans to install facilities to produce RNG made from corn stover and other cellulosic crop residues at the site. The first phase of construction is expected to begin as soon as all appropriate permits have been obtained.

The RNG conversion project will be supported by Iowa Economic Development Authority. On Nov. 16, the IEDA announced approval of Verbio’s application for the High Quality Jobs program in support of the company’s plans for creating new jobs. Verbio indicated a strong partnership with the IEDA was a critical factor in the company’s decision to redevelop the former DuPont site. Over the coming months, the company said it looks forward to working with local growers, vendors and Nevada officials.

In a statement, the IEDA said its board has awarded Verbio tax benefits via NQJ for the proposed $35 million project. IEDA said the investment is in addition to, and separate from, the facility acquisition cost and will go toward converting the plant to utilize Verbio’s RNG technology. The project is expected to create 44 jobs, including 28 that are incented at a qualifying wage of $24.95.