Germany-based Verbio Vereinigte BioEnergie AG on Sept. 22 reported record sales revenue for the 2021-’22 financial year of EUR 1.026 billion ($1.2 billion), up nearly 18 percent when compared to the previous financial year.

The company attributed the increase to European Union’s Renewable Energy Directive II, good margins for its biodiesel and ethanol segments, and strong demand for advanced biomethane. The production of ethanol and biodiesel was at 834,541 metric tons for the year, up from 796,411 metric tons, with capacity utilization at 90.7 percent. The volume of biomethane production was also up, reaching 794,817 megawatt hours (MWh), up from 784,414 MWh in 2019-’20.

In its release, Verbio provided a brief update on the development of its biorefinery in Nevada, Iowa. Verbio reached an agreement to buy the former cellulosic ethanol plant from DuPont in late 2018. At that time, the company said it intended to install facilities to produce renewable natural gas (RNG) made from corn stover and other cellulosic crops residues at the site.

In its latest announcement, Verbio said it is expanding biomethane capacity in the U.S. from 20 megawatts (MW) to 80 MW, with the group implementing the Verbio biorefinery concept at the Nevada plant site. In the future, the company said raw material for the biomethane plant will include residual waste from the production of ethanol in addition to straw. The Nevada facility is scheduled to be complete by the end of 2022.

A full copy of Verbio’s announcement can be downloaded from the company’s website.