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Rentech (RTK) Signs Multi Year Deal For RenDiesel With 8 Airlines At LAX
Rentech (RTK) is on a roll. The stock is up another 25% in premarket trading after announcing this morning that they have signed a multi year deal with eight airlines to supply up to 1.5 gallons/year of renewable synthetic diesel (RenDiesel) for ground service equipment operations at the LA Airport (LAX) beginning in about two years
D. Hunt Ramsbottom, CEO of Rentech, said, “This commercial purchase contract among Rentech, ASIG and the airlines validates the growing demand for synthetic fuels produced by the Rentech Process. The low-emissions profile and near-zero carbon footprint of our renewable RenDiesel will guarantee that the LAX ground service vehicles using this fuel will be among the cleanest and greenest of their kind.” Mr. Ramsbottom continued, “We expect this agreement to serve as a model for future supply relationships at other airports and for other fuels, including Rentech’s synthetic jet fuel, which was recently approved for commercial airline use.”
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