DuPont Industrial Biosciences departed from the cellulosic renewable fuels business as a result of the strategic restructuring of DowDuPont. As part of the restructuring, our firm represented DuPont in the sale of its cellulosic ethanol plant in Nevada, Iowa, to VERBIO North America Corporation, the U.S. subsidiary of German biofuels company VERBIO Verein BioEnergie AG.
The purchaser plans to install equipment in the Nevada plant to produce renewable natural gas made from corn stover and other cellulosic crop feedstock. The purchase price was not disclosed.
Our firm has represented DuPont's renewable fuels business for several years.