October 27, 2021
BY Erin Krueger
Novozymes released third quarter financial results on Oct. 26, reporting sales for the company’s bioenergy segment were up 5 percent for the quarter and 12 percent for the first nine months of 2021.
Novozymes said sales growth for the bioenergy segment was driven by a recovery of U.S. ethanol production volumes following last year’s severe COVID-19 related disruption, along with the continued expansion of starch-based ethanol production capacity in Latin America. Sales solutions used for biodiesel production also grew strongly, according to the company, although from a relatively low absolute level.
Moving forward, Novozymes aid organic sales growth for the bioenergy sector is expected to be driven by a gradual recovery of U.S. ethanol production as COVID-19 restrictions are lifted, continued capacity expansion of corn-based ethanol production in Latin America, and market penetration supported by innovation. Biodiesel is expected to do well and grow by double digits. For the full year, Novozymes expects bioenergy sales to be in the high single digits.
Bioenergy sales accounted for approximately 17 percent of Novozyme’s total sales for the first nine months of 2021. Household care; food, beverages and human health; grain and tech processing; and agriculture, animal health and nutrition accounted for 32 percent, 24 percent, 15 percent, and 12 percent, respectively.
Advertisement
Advertisement
Overall, Novozymes reported a 7 percent sales growth for the third quarter and a 6 percent sales growth for the first nine months of the year. The company expects sales growth to be at 5-6 percent for the full year.
Advertisement
Advertisement
Iowa farmers have a new market opportunity for their 2025 soybean crop. Landus is expanding its Clean Fuel Regulation initiative, made possible by recent policy changes expected to increase Canada's demand for liquid biofuel.
Topsoe, a leading global provider of advanced technology and solutions for the energy transition, has been selected as the renewable diesel technology partner for CountryMark’s Mount Vernon, Indiana refinery.
The U.S. exported 35,953.6 metric tons biodiesel and biodiesel blends of B30 or greater, according to data released by the USDA Foreign Agricultural Service on Aug. 5. Biodiesel imports were at 2,148.9 metric tons for the month.
XCF Global Inc. on Aug. 5announced it leverages Alfa Laval Inc. pretreatment technology at its New Rise Reno biorefinery, a sustainable aviation fuel (SAF) plant located in Nevada. The pretreatment technology enhances feedstock flexibility at the plant.
U.S. Secretary of Agriculture Brooke L. Rollins on Aug. 1 announced the opening of a 30-day public comment period for stakeholders to provide feedback on the department’s reorganization plan, as outlined in the memorandum released July 24.