and Thank you joining us today. Moriah, you, for thank everyone
to health pandemic, professionals through most by and of the I dedication first care work all, affected want appreciate crisis. a the workers for bring our the COVID-XX. effects us and This thank responders and those to help acknowledge fighting and First challenging time all frontline we is this of
an low And our facilities. pharmaceutical-grade at renewable we Pacific essential feed have that Ethanol providing products. operated report I'm pleased carbon, safely to business our fuels, is and with operating high-protein alcohol, workforce full
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at demand decimated same a pandemic the time and ethanol, of onset while and disinfectants. need spurred greater The the gasoline for for sanitizers
proactively areas. two responded team Our in
due to an acute margin First, our over capacity. idled initially of negative XX% environment, we lower ethanol and demand
this high demand and ethanol production government the facilities by our several of a country, impacted of across stay-at-home the of for period product. weeks over imbalance, overall negatively due to as COVID-XX demand recovering quarter much first substantially to than more across alcohol or value Second increased our of end from demand March with dropped a shipped markets. pharmaceutical-grade continued the to at which increase We for By is Pekin, entered historic we The to supply market as and in Illinois to margins. downturn. spread to a the orders XX% response output gasoline respond
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for produced and many internationally have applications alcohol sale We for for nationally quality years. high
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Pekin a second are the expect which materially of our contribution positive We with will the in we pleased make quarter. operations, performance
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pandemic, the economies. expect up other countries the worldwide have demand as to with second in reopen exports exports quarter we due their pick to destruction slowed While
may U.S. the China the Phase as China. between we buyer of in to as and is part pandemic the first emerge the X a country trade this and later significant year of from ethanol believe step U.S. deal China
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the value to the will carbon produce. ethanol We provide are low country, which working with carbon multiple low across jurisdictions to expand markets we
our mid ownership to Aurora took our interest to debt, as million. for Pacific Aurora reduce in total we in a we Finally, April on to a valuation $XX.X significant sell closed agreement Cooperative step of XX% our
partnerships in with assets. of the regarding various strategic for active discussions We parties sale multiple also are other
turn I'd now first call our like quarter review results. to over Bryon to the for XXXX financial a of
