Alto Ingredients, Inc. Launches Improved Protein Project
Company Adopts Harvesting Technology’s CoPromax ™ Protein System Magic Valley plant to resume production
SACRAMENTO, Calif., September 13, 2021 (GLOBE NEWSWIRE) – Ingredients Alto, Inc. (NASDAQ: ALTO), a leading producer of specialty alcohols and essential ingredients, will install Harvesting Technology, LLC’s patented CoPromax ™ protein system at Alto Ingredients’ Magic Valley plant in Idaho.
“We are upgrading our Idaho plant with the installation of the CoPromax protein system as part of our strategy to expand and diversify our product offerings based on essential ingredients. This system will produce novel protein foods and concentrated food ingredients, ”said CEO Mike Kandris. “When completed, the CoPromax system will produce over 33,000 tonnes per year of food with a protein content of over 50%. It will also offer the added benefit of increasing corn oil yields by 50%, or nearly 9 million pounds per year. We cautiously anticipate that the combination will result in an annual increase of $ 7.8 million in gross margin and approximately $ 9.0 million in EBITDA. That’s about 15 cents a gallon and a return on investment of less than three years. We expect the growing demand for protein in the livestock, poultry, pork and aquaculture sectors to support the market for our improved and high-value protein product.
“Harvesting Technology is delighted to be working with Alto Ingredients on these protein and oil recovery projects,” said Jonathan Scarfpin, CEO of Harvesting Technology, LLC. “This protein and oil recovery system is the first step in a series of new technologies that Harvesting Technology is developing to help facilities increase profitability and efficiency. “
Mr. Kandris concluded: “We plan to resume operations at our Magic Valley plant, with an annual production capacity of 60 million gallons, and to put the new system into service in the first half of 2022. With the Successful completion of this facility, we plan to deploy CoPromax systems, with a similar savings in our three other dry mills totaling 190 million gallons of annual capacity as we build our capabilities to produce low carbon alcohols and essential ingredients until 2023 and beyond.
About Alto Ingredients, Inc.
Alto Ingredients, Inc. (ALTO), formerly known as Pacific Ethanol, Inc., is a leading producer of specialty alcohols and essential ingredients. The company focuses on products for four key markets: Health, Home and Beauty; Food and drinks; Essential ingredients; and renewable fuels. The company’s customers include large food and beverage companies and consumer products companies. For more information, please visit www.altoingredients.com.
About Harvesting Technology, LLC
Harvesting Technology, LLC, is a South Dakota company that develops innovative technologies to create sustainability in energy and agriculture. These innovative solutions manufacture renewable energy options, create high value-added power products and increase facility efficiency. Harvesting Technology, LLC, is committed to helping solve the world’s food and energy needs.
Safe Harbor Declaration under the Private Securities Litigation Reform Act 1995
The statements and information contained in this communication that refer to or include the estimated or anticipated future results of Alto Ingredients or other expressions of non-historical facts are forward-looking statements that reflect Alto Ingredients’ current outlook on trends and information. existing on the date of the communication. Forward-looking statements will generally be accompanied by words such as “anticipate”, “believe”, “plan”, “could”, “should”, “estimate”, “expect”, “expect”, “prospect”, “” intend to “,” may “,” could “,” will “,” possible “,” potential “,” predict “,” project “or other similar words, phrases or expressions. These forward-looking statements include, without limitation, statements regarding the timing, costs and expected benefits of Alto Ingredients for the installation and operation of the CoPromax protein system; Food production, returns and expected financial results of Alto Ingredients for the operation of the CoPromax protein system; and other plans, objectives, expectations and intentions of Alto Ingredients. It is important to note that Alto Ingredients’ plans, goals, expectations and intentions are not predictions of actual performance. Actual results may differ materially from Alto Ingredients ‘current expectations depending on a number of factors affecting Alto Ingredients’ business and its production facility improvement initiatives. These factors include, among others, the ability of Alto Ingredients to timely and efficiently restart its production facility in Magic Valley, Idaho, and complete the installation and operation of the CoPromax protein system; adverse economic and market conditions, including for specialty spirits and essential ingredients; export conditions and international demand for the company’s products; fluctuations in the price and demand of oil and gasoline; raw material costs, including the costs of production inputs, such as corn and natural gas; and the effects – both positive and negative – of the coronavirus pandemic and its resurgence or reduction. These factors also include, among others, the inherent uncertainty associated with financial and other projections; the anticipated size of markets and continued demand for Alto Ingredients’ products; the impact of competitive products and prices; the risks and uncertainties inherent in the specialty alcohol production and marketing industries; changes in generally accepted accounting principles; compliance with government regulations applicable to Alto Ingredients facilities, products and / or businesses; changes in laws, regulations and government policies; loss of senior management or key employees; and other events, factors and risks previously and from time to time disclosed in documents filed by Alto Ingredients with the Securities and Exchange Commission, including, in particular, the factors set out in the “Risk Factors” section contained in Alto Ingredients Quarterly Report on Form 10 -Q filed with the Securities and Exchange Commission on August 10, 2021.