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CropEnergies acquires UK bioethanol producer Ensus

Mannheim, 07/19/2013 Company news

Mannheim, 19 July 2013 - CropEnergies AG, Mannheim, acquires the UK bioethanol producer Ensus Limited, based in Yarm, England.

The company operates one of the largest production plants for bioethanol in Europe, in the northeast of England with an annual capacity of 400,000 cubic metres of bioethanol and 350,000 tonnes of dried protein animal feed (DDGS). In addition, carbon dioxide is delivered to an adjacent liquefaction plant which processes it for utilisation in the food and drinks industry. The bioethanol plant was commissioned at the beginning of 2010 and employs approximately one hundred employees. CropEnergies will significantly improve the competitiveness of the company by investing more than 50 million GBP.
The acquisition of Ensus was completed on 19 July 2013 by a contribution in kind in return for the issuance of 2.25 million new CropEnergies shares. The issuing price per share is EUR 5.98 (ex dividend), corresponding to a total value of EUR 13.5 million or respectively a premium of 5 percent on the weighted average share price of the last 3 months. Ensus is being sold by funds affiliated to The Carlyle Group, one of the largest global alternative asset managers worldwide with assets under management of more than US$ 176 billion. Through the capital increase within the scope of the authorised capital, Carlyle will become a shareholder in CropEnergies, holding 2.6 percent of the stock. The companies do not disclose further details of the transaction.
With the purchase of Ensus, CropEnergies strengthens its position as one of the leading bioethanol producers in Europe and increases its annual production capacity of bioethanol by 50 percent to more than 1.2 million cubic metres. The production capacities in the UK add to the network of the company, which already operates production plants for bioethanol in Germany, Belgium and France. Via Ensus, CropEnergies gains access to the British bioethanol market, the third largest market for bioethanol in the EU after Germany and France. Together with the processing plant for neutral alcohol with an investment volume of EUR 27 million, that is being built in Zeitz, Germany, until 2015, CropEnergies hereby continues the expansion of its business pursued within the last years.
 

CropEnergies AG

Ensuring mobility in a climate friendly way - today and in the future - is CropEnergies' business. Founded in Mannheim, Germany, in 2006, the young and dynamically growing member of the Südzucker Group is one of the leading European manufacturers of sustainably produced bioethanol for the fuel sector today. With its three modern production facilities in Germany, Belgium, and France as well as trading offices in the USA and Brazil, CropEnergies produces approximately 700,000 cubic meters of bioethanol per year. They mainly replace petrol and reduce CO2 emissions by up to 70 percent. With this, CropEnergies has established itself successfully as a bioethanol pioneer in a major emerging market.

In addition to the efficient production of bioethanol, CropEnergies is mainly characterized by the innovative co-product concept: The raw materials which are used such as cereals and sugar beets are completely utilized. As a result, 500,000 tonnes of high-quality protein food and animal feed products are manufactured every year out of the non-fermentable components of the raw materials.
Through advanced technology and innovation CropEnergies contributes to ensure a sustainable mobility from renewable sources today and in the future through its main product bioethanol: mobility - sustainable. renewable.
The CropEnergies AG stock (ISIN DE000AOLAUP1) has been listed at the regulated market (Prime Standard) at the Frankfurt Stock Exchange since 2006.