South Bend Ethanol LLC in South Bend, Indiana, has new ownership and is expected to see a $230 million investment in the plant to expand its operation into renewable natural gas production.

Verbio North America Holdings Corp. announced on Monday it has completed the purchase of the plant from Mercuria Investments U.S., Inc.

It will be Verbio's second ethanol facility following the commissioning of its first plant bought in Nevada, Iowa. The company also produces renewable natural gas at the Iowa plant.