Novozymes on Oct. 26 reported that third quarter gross sales for its bioenergy phase have been up 21 % when in comparison with the identical quarter of final 12 months. Bioenergy gross sales for the primary 9 months of 2023 have been up 25 % when in comparison with the identical interval of 2022.
The corporate attributed the bioenergy phase’s robust efficiency to the continued penetration of its broad and progressive answer toolbox, permitting for increased yields, throughput, and byproduct value-capture for producers in a positive market atmosphere.
Particularly, Novozymes mentioned the North American market has skilled robust developments supported by a positive market atmosphere and roughly a 1 % enhance in U.S. ethanol manufacturing in the course of the first three quarters of the 12 months. U.S. ethanol manufacturing for the third quarter alone was up roughly 6 % when in comparison with the identical interval of 2022.
Novozymes mentioned efficiency was additionally robust exterior of North America, pushed by innovation in addition to capability enlargement of corn-based ethanol manufacturing in Latin America. Progress was additionally supported by options for biodiesel manufacturing and gross sales of enzymes utilized in second-generation. General, progress was positively impacted by pricing, the corporate added.
Bioenergy accounted for twenty-four % of Novozymes whole gross sales in the course of the first 9 months of 2023. The corporate’s family care; meals, drinks and human well being; grain and tech processing; and agriculture, animal well being and diet segments, accounted for 29 %, 22 %, 13 % and 12 % of gross sales, respectively.
For the total 12 months, Novozymes presently predicts bioenergy gross sales will probably be up roughly 20 % when in comparison with final 12 months. That gross sales progress is predicted to be supported by pricing, market penetration enabled by innovation, capability enlargement of corn-based ethanol manufacturing in Latin America, and market penetration with enzymatic options for biodiesel manufacturing. Progress can be anticipated to be supported to a level by rising gross sales of options for second-generation ethanol manufacturing.
General, Novozymes reported an 8 % enhance in gross sales for the third quarter of 2023, with gross sales for the primary 9 months of the 12 months up 5 % when in comparison with the identical intervals of 2022.
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