“You’ve always had the power my dear, you just had to learn it for yourself.” – Glinda
We are only halfway through May 2021 and the renewable diesel news coming in is astounding. It’s like Glinda the Good Witch from Wizard of Oz is flying all over waving her wand turning facilities into renewable diesel producers. Ok, so maybe it’s not magic, but Seaboard Energy, formerly known as High Plains Bioenergy, is building a renewable diesel plant in Hugoton, Kansas at the former Abengoa ethanol plant site that was purchased in February 2019. Using Haldor Topsoe’s HydroFlex tech, the plan is to make 6,500 barrels-per-day and is scheduled for operation by the end of this year. But they aren’t the only one.
PEKIN, Ill. (AP) Alto Ingredients, Inc. (ALTO) on Wednesday reported first-quarter net income of $4.7 million, after reporting a loss in the same period a year earlier. On a per-share basis, the Pekin, Illinois-based company said it had net income of 6 cents. Earnings, adjusted for asset impairment costs, came to 7 cents per […]
In California, Alto Ingredients, Inc., formerly Pacific Ethanol, has signed a definitive agreement with Seaboard Energy California, LLC to sell its fuel ethanol production facility in Madera, CA for total consideration of $28.3 million, comprised of $19.5 million in cash and $8.8 million in assumption of liabilities. The sale of the 40 million gallon per year facility is expected to close in the second quarter of 2021, subject to customary closing conditions. The majority of the cash proceeds will be used to retire company debt.
Image courtesy of Pixabay
Representative image The 40 million gal/yr facility will be acquired by Seaboard Energy California LLC before the end of this year.
Specialty alcohols and essential ingredients producer Alto Ingredients Inc. has entered into a definitive agreement to shed its Madera, CA ethanol plant to Seaboard Energy California LLC for a total consideration of $28.3 million, the company announced in a release Wednesday.
“We’ve further optimized our production footprint with the sale of the Madera facility, which will reduce the carrying cost associated with our idled plants,” said Michael Kandris, president and chief executive officer of Alto Ingredients, in a statement. “We are in discussions to sell our other idled California facility in Stockton and will announce those terms once and agreement is announced.”
Alto Ingredients Awarded Active Pharmaceutical Ingredient Certification
SACRAMENTO, Calif., Feb. 03, 2021 (GLOBE NEWSWIRE)
Alto Ingredients, Inc. (NASDAQ: ALTO), a leading producer of specialty alcohols and essential ingredients, announced its Illinois Corn Processing (ICP) facility is now ICH Q7 certified.
Mike Kandris, Alto Ingredients’ CEO, said, “Our commitment to provide our customers the absolute best quality products is reflected by this significant achievement. In October of 2020, we obtained our ISO 9001 certification, the world’s most widely recognized standard for quality management systems. Now with our internationally recognized ICH Q7 certification, our alcohol is certified for use as an active pharmaceutical ingredient. Markets for our alcohol include use in beauty and oral care products such as foundation and mouthwash, in addition to other uses within the pharmaceutical and personal care product industries. Our dedication to quality required to attain ICH