Danish enzymes maker Novozymes lowered its 2019 sales outlook on Wednesday after its bioenergy business was hit by weaker-than-expected U.S. ethanol production following floods in the Midwest, reports Reuters.
Novozymes’ enzymes and yeast are used in bioethanol production to break down and ferment sugar in crops such as corn, but the massive floods knocked out roughly 13% of the United States’ ethanol capacity.
