15 November 2010 21:58 [Source: ICIS news]
HOUSTON (ICIS)--Pacific Ethanol will resume operations at its 60m gal/year (227m litre/year) Stockton facility in California in December amid enhanced environmental standards from the state’s government, the US firm said on Monday.
Pacific Ethanol announced in February 2009 that it was temporarily suspending operations at the facility because of extended unfavourable market conditions.
In its third-quarter earnings release on Monday, the company noted that production margins in the ethanol industry had improved throughout the quarter and looked even more positive heading toward 2011.
“With our supply portfolio, representing a majority of the low-carbon ethanol produced in California, we are now contracting sales of high-value low-carbon ethanol for 2011 in anticipation of the start of the California Low-Carbon Fuel Standard in January,” the company said.
Pacific Ethanol’s third-quarter net sales were $46m (€33.6m). Year-on-year comparisons were unavailable because of the company’s 2009 bankruptcy filing.
In May 2009, subsidiaries of Pacific – which controlled the company’s four ethanol plants – filed for US bankruptcy protection.
The ethanol units exited bankruptcy in June 2010.
Pacific owns four bio-refineries with a combined ethanol capacity of 220m gal/year.
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