- Vertimass EMEA signed a purchase agreement to acquire all shares of Ekobenz.
- The Ekobenz facility will introduce the Vertimass CADO process for renewable hydrocarbons.
- Ekobenz's plant has an annual production capacity of 8 million gallons.
- The final sales agreement is scheduled for December 31, 2023.
Acquisition Agreement
Vertimass EMEA B.V. has signed a purchase agreement to acquire all outstanding shares of Ekobenz, a Poland-based company that produces renewable gasoline, liquefied petroleum gas (LPG), and other fuels. The acquisition will enable Vertimass to expand its market reach beyond the United States.
Technological Integration
The Ekobenz facility will serve as a commercial-scale platform for the introduction of the Vertimass Consolidated Alcohol Deoxygenation and Oligomerization (CADO) process. This technology will focus on producing sustainable aviation fuel (SAF) to meet climate goals set by the EU and U.S.
Production Capacity
Founded in 2006, Ekobenz aims to create high-quality synthetic fuel from renewable sources, significantly reducing CO2 emissions. The plant, operational since 2018, has an annual production capacity of 8 million gallons (22,500 tons) and achieves an average 80% reduction in CO2 emissions. The facility includes a support building, warehouse, laboratory, and equipment, spread over more than 5.5 hectares.
Future Plans
Vertimass President and CEO Dr. Charles Wyman emphasized that this acquisition is a crucial step for Vertimass technology, moving it into a commercial arena. The proof of concept on such a significant scale will facilitate the expansion of the technology to additional plants in the EMEA region and the U.S.
Timeline
The final sales and purchase agreement is scheduled to be signed on December 31, 2023.
