U.S. Ethanol Maker Eyes Low-Carbon Sugar as Its ‘Moonshot’
by Kim Chipman (Bloomberg Green) …Shares of Green Plains Inc. rebounded to a seven-week high after the U.S. ethanol maker touted progress in its attempt to transform into a powerhouse of high-value ingredients made from corn.
At the top of the list is so-called clean sugar technology, which involves making dextrose and glucose used to produce an array of products, including in the growing renewable chemicals industry. Chief Executive Officer Todd Becker says the push could be the company’s “moonshot.”
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The CEO has been working to sharply reduce Green Plains’ reliance on ethanol, with an aim of fully remaking the company into a low-carbon manufacturer of clean sugar and high-protein ingredients for use in products ranging from pet food to candy, with biofuel merely a byproduct.
Non-food grade corn oil, which can be used to make renewable diesel, as well as capturing and storing ethanol-related carbon emissions are also key areas of future growth, according to Becker’s plan. READ MORE
Ethanol Maker Green Plains Shares Plunge After Surprise Loss (Bloomberg)
Green Plains to break ground on clean sugar project in August (Ethanol Producer Magazine)
Excerpt from Bloomberg: “Results were surprisingly weaker than expected,” Stephens Inc. analyst Ben Bienvenu, who has an “overweight” rating on the stock, said in a note. “However, the story continues to be about transformation.”
Shares are likely to remain volatile until the second half of the year, when the “rubber meets the road” in the company’s overhaul plans, Bienvenu said. READ MORE