An ethanol production company in South Bend is under new ownership. Mercuria Investments US Inc. has acquired Noble Americas South Bend Ethanol LLC, though financial terms of the deal were not disclosed.
Mercuria has renamed its newly acquired company to South Bend Ethanol LLC and plans to invest up to $30 million to improve efficiency and reliability at the facility, as well as expand production capacity. The company says the facility currently produces 65 million gallons of ethanol per year and its goal is to increase capacity to 100 million gallons per year.
"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."
The investment in the facility will also include the replacement of boilers and fermenters, modifying the clean-in-place process, and installing a new beerwell, heat exhangers, tricanter, dryer, centrifuge, and oil separation process.
Mercuria did not say if any new jobs would be added as a result of the investment.