Pacific Ethanol, Inc. Expands High-Quality Alcohol Production Capacity
27 Juillet 2020 - 2:30PM
Pacific Ethanol, Inc. (NASDAQ: PEIX), a leading
producer and marketer of low-carbon renewable fuels and
high-quality alcohol products in the United States, today announced
that it is expanding its production capacity of USP grade high
quality alcohol at its Pekin, Illinois facility by 30 million
gallons per year. The new capacity will be online in the fourth
quarter of 2020, supplying the growing demand for the company’s USP
grade high quality alcohol with existing and new customers.
“Our Pekin facilities have supplied the highest quality alcohol
products for over 100 years, and our experience, consistent quality
and superior service positions us well to meet the surging demand
for USP alcohol used in sanitizers and disinfectants,” said Mike
Kandris, Pacific Ethanol’s Co-CEO. “Through debottlenecking and
other process improvements, we have already added 25 million
gallons of annual capacity of high quality alcohol production, and
with the completion of the new project, we will increase production
capacity by another 30 million gallons per year. By the end of
2020, our Pekin site will have the capability to produce 140
million gallons of high quality alcohol per year, the majority of
which meets or exceeds USP specifications.
“Our diversification strategy is paying dividends as is our
success expanding our presence as a leading provider of
high-quality alcohols.”
About Pacific Ethanol,
Inc. Pacific Ethanol, Inc. (PEIX) is a leading
producer and marketer of low-carbon renewable fuels and
high-quality alcohol products in the United States. Pacific Ethanol
owns and operates seven production facilities in California, Idaho,
Illinois and Oregon. The plants have a combined production capacity
of 450 million gallons per year, and produce over two million tons
per year of co-products – on a dry matter basis – 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, based on historical volumes. Pacific
Ethanol markets and distributes fuel-grade ethanol, high-quality
alcohol products and co-products domestically and internationally.
Pacific Ethanol’s subsidiary, Kinergy Marketing LLC, markets all
ethanol and high-quality alcohol products for Pacific Ethanol’s
plants as well as for third parties. 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 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, statements about Pacific Ethanol’s anticipated
outcome of its strategic initiatives, including its diversification
strategy into high-quality alcohol; Pacific Ethanol’s expectations
about available production capacity for high quality alcohol; 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 and high-quality
alcohols; export conditions and international demand for ethanol
and co-products; fluctuations in the price of and demand for oil
and gasoline; raw material costs, including ethanol production
input costs, such as corn and natural gas; and the ability of
Pacific Ethanol to timely and successfully advance on its strategic
initiatives. 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; changes in generally accepted
accounting principles; successful compliance with governmental
regulations applicable to Pacific Ethanol’s facilities, products
and/or businesses; changes in laws, regulations and governmental
policies; the loss of key senior management or staff; 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 Pacific Ethanol’s
Form 10-Q filed with the Securities and Exchange Commission on May
14, 2020.
Company IR Contact: |
IR Agency Contact: |
Media Contact: |
Pacific Ethanol, Inc. |
Moriah Shilton |
Paul Koehler |
916-403-2755 |
LHA |
Pacific Ethanol, Inc. |
Investorrelations@pacificethanol.com |
415-433-3777 |
916-403-2790 |
|
paulk@pacificethanol.com |
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