In California, Alto Ingredients, Inc. has received a $22.7 million cash grant from the USDA’s Biofuel Producer Program. The Program was created as part of the CARES Act, which provided $700 million to support biofuel producers who experienced market losses due to the COVID-19 pandemic.
Mike Kandris, Alto Ingredients’ CEO, said, “The grant we received from the Biofuels Producer Program will be used to support ongoing facility maintenance and improvements. Our strategic plan includes upgrading equipment and operating systems to increase efficiency and plant reliability, expanding our corn storage capacity, broadening our distribution, and installing high protein harvesting technology. In addition to fueling growth, these capital projects are expected to yield additional profitability.”
