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Alto Ingredients, Inc. Acquires CO2 Processing Plant Adjacent to Columbia Facility, Bolstering Economics and Increasing Asset Valuation
Monday, 6th January at 8:30 am
- Secures improved, long-term CO2 sales contract,
creating immediate bottom-line accretion and future financial upside -
PEKIN, Ill., Jan. 06, 2025 (GLOBE NEWSWIRE) -- Alto Ingredients, Inc. (NASDAQ: ALTO), a leading producer and distributor of specialty alcohols, renewable fuels, and essential ingredients, announced its wholly-owned subsidiary, Alto Carbonic, LLC, has acquired Kodiak Carbonic, LLC, a beverage-grade liquid carbon dioxide (CO2) processor, for $7.25 million in cash plus working capital on January 1, 2025. The transaction includes an improved, long-term contract for the sale of beverage-grade CO2, which will be immediately accretive to the bottom line, has a compelling payback timeline and provides potential expansion opportunities.
Alto Carbonic, co-located in Boardman, OR, utilizes CO2 gas produced from Alto Ingredients' Columbia plant to produce and sell liquid CO2 in the Northwestern region of the United States for applications in food and beverage processing, industrial cooling, and other industries. The facility, operational since 2015, has the capacity to process over 200 tons of liquid CO2 daily.
Monday, 6th January at 8:30 am
- Secures improved, long-term CO2 sales contract,
creating immediate bottom-line accretion and future financial upside -
PEKIN, Ill., Jan. 06, 2025 (GLOBE NEWSWIRE) -- Alto Ingredients, Inc. (NASDAQ: ALTO), a leading producer and distributor of specialty alcohols, renewable fuels, and essential ingredients, announced its wholly-owned subsidiary, Alto Carbonic, LLC, has acquired Kodiak Carbonic, LLC, a beverage-grade liquid carbon dioxide (CO2) processor, for $7.25 million in cash plus working capital on January 1, 2025. The transaction includes an improved, long-term contract for the sale of beverage-grade CO2, which will be immediately accretive to the bottom line, has a compelling payback timeline and provides potential expansion opportunities.
Alto Carbonic, co-located in Boardman, OR, utilizes CO2 gas produced from Alto Ingredients' Columbia plant to produce and sell liquid CO2 in the Northwestern region of the United States for applications in food and beverage processing, industrial cooling, and other industries. The facility, operational since 2015, has the capacity to process over 200 tons of liquid CO2 daily.
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