Alto Ingredients pays down debt, plans to sell California ethanol plants

Sacramento-based renewable fuel and specialty alcohol company Alto Ingredients Inc. plans to sell its two California fuel ethanol plants and use the proceeds to eliminate its debt this year.

Mike Kandris, CEO of Alto Ingredients (Nasdaq: ALTO), which was formerly known as Pacific Ethanol Inc., announced the planned sale during a year-end financial call with analysts.

He also reported that the company narrowed its loss to $17.3 million in 2020 from a loss of $101.3 million the previous year.



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