Verbio announces appointment of key leadership changes

Nevada, IA (March 23, 2023): Verbio has announced two leadership changes at their Nevada location. Greg Faith, who has been leading the Verbio biorefinery plant in Nevada since 2019, has officially been appointed President of the Verbio agriculture division. Greg had taken over responsibility for the agriculture team on an interim basis in October 2022.

Stefan Schreiber, Executive Board Member for North America of the internationally operating Verbio Group, comments: “I am happy that Greg is taking on the management of both our agriculture division
and our Nevada production facility. Given his extensive background providing leadership and technical direction at the company, he will bring business continuity, hands-on market knowledge, and strong
commitment through the next phase of our journey. I am confident in his ability to further leverage the tremendous potential in North America for renewable and sustainable biofuels solutions.”

Newly assigned President Greg Faith: “I am proud to be able to continue enabling Verbio to realize its full potential and create sustainable value for our employees, partners, growers and all stakeholders. Together we will accelerate and further grow our achievements in delivering high quality renewable natural gas at scale.”

In order to better integrate feedstock sourcing and production as well as to provide excellent service to local growers, Verbio has strengthened its agriculture division team with Ken Hunt as Agriculture
Manager. He brings a strong farming background and several years of leadership experience.

“Harvest as economic engine for Iowa growers”
Ken will be responsible for identifying and contracting for corn stover in partnership with local growers. As Verbio is approaching the 2023 harvest season, the company is looking to further intensify this
collaboration. The agriculture team of 38 employees secured over 26,000 acres for the plant`s upcoming production goals in 2023, with a further growth expected during this year`s harvest. A topnotch
fleet of equipment, consisting of 15 trucks and 25 balers, choppers and accumulators, is ready to go into this new season.

By harvesting agricultural residues, growers can actively contribute to protecting the environment. The results of a recent study conducted on behalf of Verbio show that well-planned residue harvest helps
prevent the release of greenhouse gas emissions, resulting from the stover being left to decompose in the fields. They can also increase crop yield, by doing so consistently, the study confirms.

“Harvest of ag residues can be an economic engine for growers,” states Ken Hunt. ”Engaging with the region’s growers to explain our mission and secure feedstock for our production of renewable natural
gas (RNG) is vital to the plant’s ambitions. I am excited for this opportunity to combine knowledge of our region`s growers with novel sustainable technologies that make a contribution to climate protection.
This partnership will add significant value to the local economy while producing renewable energy from residual agricultural waste.”

Coming soon: Ethanol production
While preparing for another harvest season and securing feedstock, Verbio progresses towards the next milestone of their strategic plan. The company is building up the current infrastructure to support
ethanol production in addition to the biomethane produced at the Nevada plant. Operations are expected to commence in the 3rd quarter of 2023 with an installed capacity to produce 19 million ethanol
gallons equivalent (EGE) of RNG and 60 million gallons of corn-based ethanol per year. The production added additional fermentation tanks, equipment, a corn unloading facility and silo storage, as well as
about 50 full-time jobs. In this next phase Verbio will utilize corn from local growers for the production of ethanol and is proud to be able to sell back corn oil, humus and liquid fertilizers as by-products of
this process.