Abstract: In a method of continuously producing ethanol from sugar-containing substrates by fermentation of sugars by means of a flocculating strain of Zymomonas mobilis under anaerobic conditions and at a pH of from 4.5 to 7 a substrate is led commonly with Zymomonas mobilis cells through at least three fermentation stages without preceding sterilization, a concentration of at least 4% by volume of ethanol is maintained in each fermentation stage, a residence time of the fermentation medium in the entire system of maximally 31/3 h corresponding to a dilution rate of the fermentation medium in the entire system of at least 0.3 h.sup.-1 is adjusted, the Zymomonas mobilis cells are separated by sedimentation after the final fermentation stage, the Zymomonas mobilis cells are recycled into the first fermentation stage, and the ethanol-containing substrate separated from the Zymomonas mobilis cells is drawn off.