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2025-02-17
Green Earth Institute Co. Ltd. and Nippon Paper Industries Co. Ltd. and Sumitomo Corporation have reached an agreement to establish a joint venture company, Morisora Bio Refinery LLC, which will focus on the production and sale of bioethanol and biochemicals derived from woody biomass. Establishment of the joint venture is scheduled for March 2025. The joint venture will construct a semi-commercial plant at Nippon Paper's Iwanuma Mill in Miyagi Prefecture. Using sustainable forest resources from the Tohoku region, such as wood scraps from sawmills, GEI's proprietary low-carbon, cost-efficient bioethanol production process will be used to produce over 1,000kL of bioethanol annually starting in 2027. Subsequently, with the full-scale introduction and adoption of sustainable aviation fuel (SAF) in Japan anticipated around 2030, the joint venture is targeting the operation of a commercial plant capable of producing tens of thousands of kiloliters of bioeth ethanol and biochemicals per year. On February 3, 2023, Nippon Paper, Sumitomo Corporation and GEI announced a Memorandum of Understanding (MOU) on "Collaboration for the First Commercial Production of Cellulosic Bioethanol from Woody Biomass in Japan and Its Development into Bio-chemical Products." Based on this agreement, the three companies launched the "Morisora Project" with the slogan "Turning the Power of Forests into the Power of Flight®?." The project focuses on the promotion and expansion of SAF and is affiliated with the all-Japan initiative "ACT FOR SKY", aiming for widespread SAF production. Additionally, the project has been selected as a pilot project within the SAF Certification Task Group of the Public-Private Council to Promote the Introduction of Sustainable Aviation Fuel (SAF) (SAF). GEI and Nippon Paper are conducting a grant and commission project under the National Energy and Industrial Technology Development Organization (NEDO) titled "Development of the world's best-class low-carbon bioethanol production process using 100% domestic wood biorefinery" as part of the second call for the "Bio-manufacturing Revolution Promotion Project." The bioethanol produced by the project will be a low-carbon, non-food biomass-based ethanol (E2G) made from wood chips sourced from the Tohoku region. By using locally sourced wood chips, the project will reduce CO2 emissions during transportation. Further, the manufacturing process will utilize carbon-neutral energy derived from lignin, a component of wood biomass, significantly reducing fossil-derived CO2 emissions and contributing to the realization of a sustainable, decarbonized society. The bioethanol will be used for SAF as well as gasoline blending, fuel cells, cosmetics and chemical feedstock. Additionally, the project will actively explore the effective use of bio-generated CO2 and fermentation by-products. Moreover, beyond utilizing the power of forests, efforts will be made to enhance forest resources by promoting the distribution of elite tree seedlings in the Tohoku region, further contributing to decarbonization, local production for local consumption, and the sustainable circulation of domestic forest resources. Aiming to become a leading comprehensive biomass company, Nippon Paper will leverage its experience in papermaking and pulp manufacturing technology to quickly establish large-scale production and a robust supply system for woody biomass-derived bioethanol. This will accelerate the company's market entry into the biochemical sector and contribute to building a decarbonized society and working to prevent global warming. Sumitomo Corporation is developing businesses at the foundation of a sustainable energy cycle in society, aiming for carbon neutrality in its business activities by 2050. Through this project, Sumitomo Corporation plans to ensure the stable procurement of raw materials, promote the widespread adoption of domestically produced SAF and contribute to Japan's energy security. Additionally, it will apply knowledge gained from this project to the development of SAF manufacturing and sales businesses globally, and by participating in and promoting multiple projects with region-specific raw materials and production methods, work to decarbonize the aviation industry while ensuring a stable supply of low-carbon bioethanol. As ensuring a stable supply of high-carbon biofuels.
2025-01-17
Green Earth Institute Co., Ltd. announced that they will report Q2, 2025 results on May 15, 2025
2025-01-03
Green Earth Institute Co., Ltd. announced that they will report Q1, 2025 results on Feb 14, 2025
2024-11-14
Green Earth Institute Co., Ltd., Annual General Meeting, Dec 24, 2024.
2024-08-29
Green Earth Institute Co., Ltd. announced that they will report fiscal year 2024 results on Nov 14, 2024
2025Q1 | 2024Q4 | 2024Q3 | 2024Q2 | 2024Q1 | 2023Q4 | 2023Q3 | |
|---|---|---|---|---|---|---|---|
Total Revenues | 1,075 | 1,015 | 1,002 | 822 | 933 | 903 | 897 |
Pretax Income Excl.Unusual Items | -44 | -140 | -137 | -215 | -171 | -109 | -108 |
Total Assets | 2,892 | 2,619 | 2,736 | 3,185 | 3,550 | 3,354 | 2,672 |
Total Liabilities | 1,052 | 766 | 762 | 1,438 | 1,664 | 1,362 | 562 |
Cash & Cash Equivalents | 1,994 | 2,157 | 2,274 | 1,987 | 2,349 | 2,703 | 2,401 |
Total Common Equity | 1,840 | 1,853 | 1,974 | 1,747 | 1,886 | 1,992 | 2,110 |
Book Value Per Share (BVPS) | 162.96 | 164.11 | 174.94 | 154.85 | 167.23 | 176.63 | 187.09 |
Net Change in Cash | -354 | -126 | -557 | -339 | |||
Capital Expenditure | -149 | -80 | -55 | -13 |
In Q1-2025, Green Earth Institute reported 197M yen in total revenues, which represents an increase of 43.8% compared to the corresponding quarter last year. However, the company incurred again a net loss of 13M yen, as last year it incured a net loss of 108M yen. In terms of profitability, the company's gross margin was 73.6%, above the sector median of 29.8%. However, the net margin was -6.6%, below the sector median of 5.3%. Moreover, the company's Return on Capital Employed (ROCE) was -1.9% on a trailing twelve-month basis, versus -7.9% a year ago, yet still below the sector median of 8.3%. ROCE measures how effectively a company uses its capital to generate profit, which is crucial for capital-intensive energy companies.
Moving to the balance sheet, Green Earth Institute's balance sheet decreased by 18.5% and currently stands at 2.89B yen. From a liquidity perspective, Green Earth Institute's current ratio is 2.67, suggesting that the company is in a strong position to meet its short-term obligations comfortably. In terms of leverage, the company's total debt totals 148M yen, a 25.6% decrease year-over-year. Moreover, the company's debt-to-capital ratio is 7.4%, below the sector median of 30.6%. This metric is useful for assessing Green Earth Institute's financial leverage, especially in the energy sector which is known for its high capital expenditures and long-term project investments that typically require significant amounts of debt financing to sustain operations and growth.
From a valuation perspective, Green Earth Institute is currently trading at a Price-to-Earnings (P/E) ratio of 110.8x, marking a decrease of 261.3% compared to the same quarter last year. This suggests that investors are willing to pay less for every dollar of earnings generated by the company.