NEVADA, Iowa (AP) — The DowDuPont cellulosic ethanol plant in central Iowa has been bought by a German biofuels company's U.S. subsidiary.
Verbio North America Corp. and DowDuPont announced Thursday that the purchase includes the 30 million-gallon (114 million liter) plant in Nevada (nuh-VAYE'-duh) and a portion of its corn stover inventory. The price was not released.
The cellulosic ethanol plant, which opened in 2015, is considered the next generation in renewable fuel production. It uses corncobs, husks and stalks to produce the biofuel. DowDuPont closed the plant last fall, announcing that it was for sale. DowDuPont said the operation no longer fit its strategic plan.
Verbio intends to install equipment for making natural gas made from corn stover and other cellulosic crop residue.
Verbio North America Corp. is based in Grand Rapids, Michigan, and is a subsidiary of Verbio Vereinigte BioEnergie AG, which is based in Leipzig, Germany.