Irish biofuels producer Bioverda plans a major expansion in the fast consolidating U.S. ethanol market but sees biodiesel as the future growth sector in Europe, chief executive John Mullins said on Friday.
Bioverda, a subsidiary of waste and renewable energy company NTR plc, has formed a joint venture with British billionaire Richard Branson's Virgin Group to invest in U.S.-based ethanol and expects to be a major player as the industry consolidates.“The target for any ethanol player is one billion gallons (of production). We are looking at consolidation options in the United States,” Mullins told Reuters in a phone interview.
And that, gentle readers, is the next phase.
Unfortunately the prime acquisition targets would be fully paid for plants. Those tend to be owned by farmers and/or co-ops, no portfolio play; only M&A fees.