Novozymes' H1 bioenergy sales grow 7% y/y

Ethanol plant in the US. Featured Image: Jim Parkin/Shutterstock.com

Aug 16 (Renewables Now) - Danish industrial enzymes producer Novozymes A/S (CPH:NZYM-B) saw its bioenergy sales reach DKK 1.31 billion (USD 206m/EUR 176m) in the first half of 2017, rising 7% organically and 9% in local currency.

In just the second quarter of 2017, sales in the division grew 8% organically and 10% in Danish krones (DKK).

The company said that sales for US conventional biofuels benefited from continued high production of ethanol, going up by an estimated 4% year-on-year in the second quarter. Novozymes noted that growth was recorded in other geographies as well, but added they represent a smaller part of the overall figure.

The company said further that US ethanol production was up around 4% on the year in the first half, and that it expects the full-year figure to be slightly higher than in 2016.

“We note relatively high US ethanol inventory levels and expect lower 2H y/y US ethanol production growth relative to what we have seen in 1H y/y,” the firm said.

Novozymes noted a significant progress it made in its biomass conversion business, moving its grain-milling and vegetable oil-processing programme from “Development” to the “Launch” stage.

(DKK 1.0 = USD 0.157/EUR 0.134)

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