Novozymes on Oct. 26 reported that third quarter sales for its bioenergy segment were up 21 percent when compared to the same quarter of last year. Bioenergy sales for the first nine months of 2023 were up 25 percent when compared to the same period of 2022.The company attributed the bioenergy segment’s strong performance to the continued penetration of its broad and innovative solution toolbox, allowing for higher yields, throughput, and byproduct value-capture for producers in a favorable market environment.&nbsp;In particular, Novozymes said the North American market has experienced strong developments supported by a favorable market environment and roughly a 1 percent increase in U.S. ethanol production during the first three quarters of the year. U.S. ethanol production for the third quarter alone was up approximately 6 percent when compared to the same period of 2022.Novozymes said performance was also strong outside of North America, driven by innovation as well as capacity expansion of corn-based ethanol production in Latin America. Growth was also supported by solutions for biodiesel production and sales of enzymes used in second-generation. Overall, growth was positively impacted by pricing, the company added.&nbsp;Bioenergy accounted for 24 percent of Novozymes total sales during the first nine months of 2023. The company’s household care; food, beverages and human health; grain and tech processing; and agriculture, animal health and nutrition segments, accounted for 29 percent, 22 percent, 13 percent and 12 percent of sales, respectively.&nbsp;For the full year, Novozymes currently predicts bioenergy sales will be up approximately 20 percent when compared to last year. That sales growth is expected to be supported by pricing, market penetration enabled by innovation, capacity expansion of corn-based ethanol production in Latin America, and market penetration with enzymatic solutions for biodiesel production. Growth is also expected to be supported to a degree by growing sales of solutions for second-generation ethanol production.&nbsp;Overall, Novozymes reported an 8 percent increase in sales for the third quarter of 2023, with sales for the first nine months of the year up 5 percent when compared to the same periods of 2022.

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Novozymes on Oct. 26 reported that Q3 sales for its bioenergy segment were up 21 percent when compared to the same quarter of last year. Bioenergy sales for the first nine months of 2023 were up 25 percent when compared to the same period of 2022.

Novozymes: Bioenergy sales up 21% in Q3

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