Sergio Flores | Bloomberg | Getty ImagesEthanol prices have collapsed as gasoline demand dropped by half due to COVID-19 shutdowns. That because ethanol —a biofuel derived from corn — makes up about 10% of the gas in your tank.
His company runs more than two dozen ethanol plants in the U.S., though currently three plants are closed, and 10% of his workforce is laid off.However, in two plants, POET is doing something new. It has re-engineered systems to make pharmaceutical grade hand sanitizer.The conversion from ethanol to hand sanitizer comes with "some pretty significant costs," he says.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
$DL - Ethanol's yield is at a recent low of -8.72, 84% of the time this led to a rally in price (last: 1.05) TOGGLEbot cnbc