Syngenta provides update of Enogen activity in financial results

By Erin Voegele | July 27, 2016

Syngenta has released financial results for the first half of 2016, reporting sales of $7.1 billion, down 2 percent at constant exchange rates and 7 percent at actual rates. Net income was $1.06 billion, down 13 percent. EBITA was $1.77 billion, down 12 percent.

Within its financial results presentation, Syngenta reported that its Enogen trait corn, which is tailored for ethanol production, has been contracted for use at more than 20 ethanol plants. Together, these plants account for approximately 10 percent of U.S. ethanol production.

“Enogen produces significant savings for dry grind ethanol producers and we have now taken the technology a step further through the Cellerate partnership, which enables the production of cellulosic ethanol,” said John Ramsay, chief financial officer of Syngenta. “The combination of our genetics and the Cellerate engineering process is producing an increase in ethanol yield of over 20 percent while generating high protein DDGs for the feed industry.”