Greenhunter Energy (Amex: GRH) Assesses Damage To Houston Plant From Ike

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08:32:21 am on September 16, 2008

Greenhunter Energy has completed an initial assessment of the damage Hurricane Ike caused to its Renewable Fuels Campus in Houston, Texas. Greenhunter’s Renewable Fuels Campus is home to their 105-MMGY biodiesel refinery, the largest in the country. Ike knocked out power and caused extensive flooding in the Houston area, and the campus sustained the following damage:

  • Damages to offices at the facility
  • Damage to piping between some of the reagent tanks
  • Foundations for some small and intermediate-sized tanks
  • 2 large storage tanks, one holding methanol and one holding canola oil. Some canola oil was released into the environment in the floods.

Right now, the facility is expected to remain shut down for the next 6-8 weeks. Commenting on the damage, Bruce Baughman, Senior Vice President of Technology and Engineering, said, "Given the sheer volume of water and the extreme flood levels that we faced, our initial assessment is that we sustained overall minor to moderate impact to the Renewable Fuels Campus from Hurricane Ike.”

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