SOUTH BEND, INDIANA – 10 January, 2018 – Mercuria Investments US, Inc. (“Mercuria”) announced that it has completed the purchase of 100% of equity interests in Noble Americas South Bend Ethanol, LLC (“NASBE”) from Noble Americas Corp. Immediately following the acquisition, Mercuria renamed NASBE to South Bend Ethanol, LLC (“SBE”).
South Bend Ethanol, LLC (www.southbendethanol.com) currently operates at approximately 65 million gallons per year of ethanol production capacity. The plant has been operational since ICM Inc. completed retrofits at the facility in 2015. In addition to ethanol, SBE also produces dry distillers grains, corn oil and carbon dioxide that is sold to a local company.
Mercuria plans to spend up to $30 million to improve efficiency and reliability and to expand production capacity by 50% to approximately 100 million gallons per year. Mercuria plans to replace boilers and fermenters, to modify the clean-in-place process, and to install a new beerwell, heat exchangers, tricanter, dryer, centrifuge and oil separation process. SBE will proudly remain a significant partner to local farmers who will have a consistent, sustainable and growing demand for their corn production.
“Mercuria is pleased to invest in, and is strongly committed to, South Bend,” said Brian Falik of Mercuria. “We believe in the long-term viability of ethanol and the value it brings to the American farmer, while providing a cheap, clean burning fuel to the world.”
Energy Management Solutions Inc. provides plant management services to SBE.
About Mercuria: Founded in 2004, Mercuria Energy Group Limited (“Mercuria Group”; https://www.mercuria.com/), is a third largest independent commodity trader in the world, and through its various subsidiaries, focuses primarily on energy and has activities all along the commodity value chain that form a balanced combination of commodity flows and strategic assets.
With a strong balance sheet, continued support from its banking partners, and a strategic investment from China National Chemical Corporation (“ChemChina”), Mercuria Group has invested hundreds of millions of dollars around the globe in various production, storage and logistics assets. In offices worldwide, more than 1,000 people sustain Mercuria Group’s extensive business reach, while leveraging their market knowledge, diversity, and experience.
In the U.S., Mercuria Group has offices in Connecticut, Texas and Colorado. Mercuria Group also maintains other U.S. investments and assets in Texas, Louisiana, and North Dakota.
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