Alto Ingredients Idles Idaho Facility Amid Challenging Market Conditions

November 29, 2024 – 8:30 a.m

– The system is to be operated as a terminal –

PEKIN, Ill., Nov. 29, 2024 (GLOBE NEWSWIRE) — Alto Ingredients, Inc. (NASDAQ: ALTO)a leading manufacturer and distributor of specialty alcohols, renewable fuels and essential ingredients, has announced that the Company will decommission its Magic Valley, Idaho facility on December 31, 2024 and continue to provide terminal services at the facility.

“With first quarter 2025 forecasts of very low to negative processing margins in the West, it is prudent for tax purposes to idle the Magic Valley facility to minimize expected financial losses,” said Bryon McGregor, President and CEO of Alto Ingredients . “Consistent with our commitment to our customers, we will fulfill our remaining contractual obligations and then operate our Magic Valley facility as a terminal. We intend to resume operations at the facility when the economic environment improves sustainably. We believe these actions will have a positive impact on our overall financial results.”

About Alto Ingredients, Inc.
Alto Ingredients, Inc. (ALTO) is a leading manufacturer and distributor of specialty alcohols, renewable fuels and essential ingredients. The company focuses on products for four key markets: health, home and beauty; food and beverages; Essential Ingredients; and renewable fuels. The company’s customers include major food and beverage companies and consumer goods manufacturers. For more information, visit www.altoingredients.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements and information contained in this release that relate to or contain Alto Ingredients’ estimated or expected future results or other non-historical statements of fact are forward-looking statements that reflect Alto Ingredients’ current view of existing trends and information as of the date the communication. Forward-looking statements are generally accompanied by words such as “anticipate,” “believe,” “plan,” “could,” “should,” “estimate,” “expect,” “project,” “outlook,” “guidance.” “intend,” “may,” “could,” “will,” “possible,” “potential,” “predict,” “project,” or other similar words, phrases or expressions. These forward-looking statements include, but are not limited to, statements regarding Alto Ingredients’ projections of future crush margins; Alto Ingredients’ ability to meet deadlines with its customers; and the impact of the Magic Valley plant cold shutdown on Alto Ingredients. It is important to note that Alto Ingredients’ plans, objectives, expectations and intentions are not predictions of actual performance. Actual results may differ materially from Alto Ingredients’ current expectations depending on a number of factors affecting Alto Ingredients’ business and plans. These factors include, but are not limited to, economic and market conditions, including for specialty alcohols, renewable fuels and essential ingredients; export conditions and international demand for Alto Ingredients’ products; fluctuations in the price and demand for oil and gasoline; and raw material costs, including production input costs such as corn and natural gas. These factors include, but are not limited to, the inherent uncertainty associated with financial and other forecasts and events, factors and risks previously and from time to time disclosed in Alto Ingredients’ filings with the Securities and Exchange Commission, including without limitation those set forth in For the factors listed, see the section “Risk Factors” contained in Alto Ingredients’ Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 8, 2024.

Company IR contact:
Michael Kramer, Alto Ingredients, Inc., 916-403-2755, [email protected]

Contact the IR agency:
Kirsten Chapman, Alliance Advisors Investor Relations, 415-433-3777, [email protected]