Pacific Ethanol Receives EPA-Approved Registration for Cellulosic Ethanol Production at Stockton Plant
September 12 2016 - 8:30AM
– Now generating valuable D3 cellulosic RINs ––
Expects to produce over one million gallons per year of cellulosic
ethanol at Stockton, CA plant –
Pacific Ethanol, Inc. (NASDAQ:PEIX), a leading
producer and marketer of low-carbon renewable fuels in the United
States, announced the U.S. Environmental Protection Agency (EPA)
has approved its registration for generating cellulosic ethanol and
D3 cellulosic renewable identification numbers (RINs) at its
Stockton, CA plant from corn fiber using Edeniq, Inc.’s Pathway
Technology™. This is the first ever EPA registration incorporating
this process.
Neil Koehler, the company’s president and CEO,
stated: “The EPA-approved registration for generating cellulosic
ethanol and D3 RINs is an important milestone in our strategy to be
a leading producer of cellulosic ethanol. This further underscores
our continued commitment to improving production yields, and
diversifying our technology and feedstocks. We expect to produce
over one million gallons per year of cellulosic ethanol at our
Stockton facility. With the high-value D3 RINs, the carbon credit
under California’s Low Carbon Fuel Standard, and the federal Second
Generation Biofuel Producer tax credit, we expect that cellulosic
ethanol production will materially contribute to the profitability
of our Stockton facility. As we confirm and optimize our cellulosic
ethanol production process, we will look toward expanding this to
other Pacific Ethanol plants.”
Pacific Ethanol began producing cellulosic
ethanol at its 60-million-gallon capacity per year Stockton, CA
plant in December 2015 using the Edeniq, Inc. Pathway Technology™,
which integrates Edeniq’s Cellunator™ high shear equipment with
cellulase enzymes to convert corn kernel fiber to fermentable
sugars. The process enables producers 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 RINs as defined by the federal Renewable
Fuel Standard.
Brian Thome, Edeniq’s president and CEO, stated:
“This approval is a landmark for the ethanol industry and for
Edeniq as it opens the door for low-cost production of cellulosic
ethanol from corn kernel fiber in existing fermentation
vessels.”
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
advance its position as an 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 Pacific Ethanol’s 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 1995Statements 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, market conditions, including the supply of and
demand for ethanol and co-products; growth in demand for these
products; expectations regarding cellulosic ethanol production, D3
RINs, and enhanced profitability relating to those factors; 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; fluctuations in the
price of oil and gasoline; raw material costs, including ethanol
production input costs; insufficient capital resources; and the
effective use of new technologies. 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; the impact of
competitive products and pricing; the risks and uncertainties
normally incident to the ethanol production and marketing
industries; successful compliance with governmental regulations
applicable to Pacific Ethanol’s facilities, products and/or
businesses; changes in laws and governmental regulations and
policies; 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 August 5, 2016.
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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