Vertimass EMEA Signs Agreement to Acquire European Renewable Fuel Company Ekobenz in Kleszczów, Poland
IRVINE, Calif. – Vertimass EMEA B.V. announced today that it has signed a purchase agreement to acquire all outstanding shares of Ekobenz, a Poland-based company that commercially produces high-quality renewable gasoline, liquefied petroleum gas (LPG), and other fuels. The Ekobenz facility will also provide a commercial-scale platform on which to build near-term introduction of the Vertimass Consolidated Alcohol Deoxygenation and Oligomerization (CADO) process for renewable hydrocarbons of which sustainable aviation fuel (SAF) production will be a main feature. In addition, this acquisition will facilitate expansion of markets for Vertimass products beyond those in the United States.
“Ekobenz is one of the first advanced biorefineries at a commercial scale in Europe,” explained Vertimass Chairman William A. Shopoff. “By acquiring this company and plant, we will be able to immediately produce fuel commercially and scale the Vertimass technology to ultimately provide significant volumes of sustainable aviation fuel that help meet the 2035 climate change goals of the EU and U.S.”
Ekobenz was founded in 2006 with the goal of creating high-quality synthetic fuel derived from renewable sources and significantly reduce carbon dioxide (CO2) emissions that contribute to climate change. The Ekobenz sustainable fuel plant, with a designed annual production capacity of 8 million gallons (22,500 tons), became operational in 2018 and produces sustainable fuel with an average 80% reduction in CO2 emissions. The company is a certified and regulated producer of hydrocarbons, bio-gasoline, and bio-LPG in Europe. The production plant is sited on more than 5.5 hectares that also includes a support building, warehouse, laboratory, and equipment.
Vertimass President and CEO Dr. Charles Wyman noted, “This acquisition is an important step for Vertimass technology and will move Vertimass into a commercial arena. Proof of concept on such a significant scale will allow the technology to expand to additional plants in the forthcoming period, both in the EMEA region and the U.S.”
The parties scheduled the signing of the final sales and purchase agreement for December 31, 2023.
Categories
Countries
Latest news
Arkema and ProLogium enter cooperation for next-generation lithium-ceramic battery materials for e-mobility with the construction of a gigafactory in Dunkirk, France
Arkema has been chosen by ProLogium, a Taiwanese technology leader in advanced batteries, as a key development and supply partner ahead of the launch of its gigafactory in France.
MOL inaugurated €1.3 billion polyol complex in Tiszaújváros, Hungary
The €1.3 billion project is MOL's largest organic investment to date, for which it has also received support from the Hungarian state. Thanks to technology of thyssenkrupp Uhde and Evonik, the plan...
BASF invests in capacity expansion of Basoflux® range of paraffin inhibitors in Tarragona, Spain.
BASF Tarragona →Increased production at the BASF site in Tarragona, Spain to support growing global demand for high-quality paraffin inhibitor chemistries. Investment reinforces BASF’s commitment to innovative and...
LYB to build integrated plastic waste recycling hub in Chemiepark Knapsack, Germany
Chemiepark Knapsack →The hub is planned to combine various advanced sorting and recycling operations, helping to address the plastic waste challenge and grow the circular economy