Pacific Ethanol Begins Commercial Production of Cellulosic Ethanol at Its Stockton Plant
December 16 2015 - 8:30AM
Pacific Ethanol, Inc. (NASDAQ:PEIX), a leading producer and
marketer of low-carbon renewable fuels in the United States,
announced it is now producing cellulosic ethanol at its Stockton,
CA facility using Edeniq, Inc.’s Pathway Technology.
Neil Koehler, the company’s president and CEO,
stated, “We are now commercially producing cellulosic ethanol using
Edeniq’s Pathway enzyme at our Stockton facility. This is an
important step in our strategy to increase production yields at our
plants and our mission to be the leading producer and marketer of
low-carbon renewable fuels. We are working with Edeniq and the
Environmental Protection Agency to qualify these gallons for
generating D3 cellulosic RINs, which carry a premium over
conventional ethanol, and we expect to receive EPA approval in the
first quarter of 2016.”
Edeniq’s Pathway Technology integrates Edeniq’s
Cellunator™ high shear equipment with cellulase enzymes to convert
corn kernel fiber to fermentable sugars. Edeniq’s Pathway
Technology includes a proprietary technical validation process that
enables customers to quantify the amount of cellulosic ethanol
produced within their plants and comply with the registration,
recordkeeping, and reporting required by the EPA to generate
cellulosic D3 Renewable Identification Numbers (RINs) as defined by
the Renewable Fuel Standard.
“Our Pathway Technology enables ethanol plants
to produce cellulosic ethanol directly in existing fermentation
vessels at a very low cost,” said Brian Thome, President and CEO of
Edeniq. “Pacific Ethanol’s production of cellulosic ethanol is an
important landmark for both of our companies, and for the ethanol
industry.”
The Stockton plant, a facility with a production
capacity of 60 million gallons per year, is expected to produce up
to 750,000 gallons per year of cellulosic ethanol with the Pathway
process.
About Pacific Ethanol, Inc.
Pacific Ethanol, Inc. (PEIX) is the leading
producer and marketer of low-carbon renewable fuels in the Western
United States. With the addition of four Midwestern ethanol plants
in July 2015, Pacific Ethanol more than doubled the scale of its
operations, entered new markets, and expanded its mission to be the
industry leader in the production and marketing of low-carbon
renewable fuels. Pacific Ethanol owns and operates eight ethanol
production facilities, four in the Western states of California,
Oregon and Idaho, and four in the Midwestern states of Illinois and
Nebraska. The plants have a combined production capacity of 515
million gallons per year, produce over one million tons per year of
ethanol co-products such as wet and dry distillers grains, wet and
dry corn gluten feed, condensed distillers solubles, corn gluten
meal, corn germ, corn oil, distillers yeast and CO2. Pacific
Ethanol markets and distributes ethanol and co-products
domestically and internationally. Pacific Ethanol’s subsidiary,
Kinergy Marketing LLC, markets all ethanol for the Pacific Ethanol
plants as well as for third parties, with over 800 million gallons
of ethanol marketed annually based on historical volumes. Pacific
Ethanol’s subsidiary, Pacific Ag. Products LLC, markets wet and dry
distillers grains. For more information, please visit
www.pacificethanol.com.
Safe Harbor Statement under the Private
Securities Litigation Reform Act of 1995
Statements and information contained in this
communication that refer to or include the Pacific Ethanol’s
estimated or anticipated future results or other non-historical
expressions of fact are forward-looking statements that reflect
Pacific Ethanol’s current perspective of existing trends and
information as of the date of the communication. Forward looking
statements generally will be accompanied by words such as
“anticipate,” “believe,” “plan,” “could,” “should,” “estimate,”
“expect,” “forecast,” “outlook,” “guidance,” “intend,” “may,”
“might,” “will,” “possible,” “potential,” “predict,” “project,” or
other similar words, phrases or expressions. Such forward-looking
statements include, but are not limited to, Pacific Ethanol’s
expectations regarding cellulosic ethanol and production yields;
the value of D3 cellulosic RINs and their premium over conventional
ethanol; the timing and receipt of EPA approval; and Pacific
Ethanol’s other plans, objectives, expectations and intentions. It
is important to note that Pacific Ethanol’s plans, objectives,
expectations and intentions are not predictions of actual
performance. Actual results may differ materially from Pacific
Ethanol’s current expectations depending upon a number of factors
affecting Pacific Ethanol’s business. These factors include, among
others, adverse economic and market conditions, including for
ethanol and its co-products; adverse outcomes from using new
technologies; changes in governmental regulations and policies.
These factors also include, among others, the inherent uncertainty
associated with financial and other projections; the anticipated
size of the markets and continued demand for Pacific Ethanol’s
products, including cellulosic ethanol; the impact of competitive
products and pricing; the value of D3 cellulosic RINs; successful
compliance with governmental regulations applicable to Pacific
Ethanol’s facilities and to the production of cellulosic ethanol;
changes in laws and regulations; and other events, factors and
risks previously and from time to time disclosed in Pacific
Ethanol’s filings with the Securities and Exchange Commission
including, specifically, those factors set forth in the “Risk
Factors” section contained in the Company’s Form 10-Q filed with
the Securities and Exchange Commission on November 6, 2015.
Company IR Contact:
Pacific Ethanol, Inc.
916-403-2755
866-508-4969
Investorrelations@pacificethanol.com
IR Agency Contact:
Becky Herrick
LHA
415-433-3777
Media Contact:
Paul Koehler
Pacific Ethanol, Inc.
916-403-2790
paulk@pacificethanol.com
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