Bloomberg News

Verbio Wins Leipzig Natural Gas Order as Profit Climbs

May 10, 2012

Verbio AG (VBK), a German biofuels company, will supply all eight natural-gas car filling stations in the eastern German city of Leipzig with fuel made from farm waste.

An agreement with the city’s municipal utility was reached at a conference in Berlin last month, Chief Executive Officer Claus Sauter said today in a phone interview. “We’re winning more and more municipal utilities as customers and we’re in negotiations with several more,” Sauter said.

The deals will increase income for the company, which today said revenue rose 41 percent to 201 million euros ($261 million) in the first quarter from a year before on sales of biodiesel and bioethanol, a motor-fuel additive. Net income gained to 2.1 million euros, from 2 million euros, it said in a statement.

The European Union aims to get 10 percent of transportation fuel from renewable sources by 2020 to cut fossil-fuel imports and curb pollution. Verbio in March opened what it said was the world’s first straw-to-biomethane plant and is building plants that will allow it to sell its renewable gas as a vehicle fuel.

To contact the reporter on this story: Stefan Nicola in Berlin at snicola2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


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