Bad news for Nova Biosource Fuels… the company received a notice from the New York Stock exchange yesterday, advising that it is not in compliance with Section 1003(a)(iv) of the NYSE Alternext US LLC Company Guide. Basically, the company has had so many losses that the Exchange is not sure whether it will be able to meet its obligations in the future. In order to remain on the NYSE, Nova must submit a plan for … Read the rest
Category Archives: Biofuels
GreenHunter Energy (GRH) Sells Telogia, Florida Biomass Plant
According to Energy Current, GreenHunter Energy just announced the sale of its Telogia, Florida wood-powered biomass plant. The company bought the 14 MW plant in September of last year for $2.5 million. The plant was sold to Multitrade Telogia, LLC for $5.7 million in cash, including 1.7 million in debt.
Gary C. Evans, Greenhunter Energy’s Chairman and CEO, commented on the sale, saying
… Read the rest"The sale of this non cash flow-producing asset will allow our
GreenHunter Biofuels (GRH) Biodiesel Approved By EPA
Greenhunter Biofuels, a subsidiary of Greenhunter Energy (GRH) announced its biodiesel has been approved by the EPA, allowing the company to sell to the US on road market. The approval greatly increases biodiesel distribution capabilities in the US from its 105 million gallon/year refinery in Houston, Texas, the largest biodiesel refinery in the country. Most of the biodiesel the company currently produces comes from animal fats but its jatropha plantations are expected to begin contributing … Read the rest
Nova Biosource Fuels, Inc (NBF) Reports That Their Fuels Have Passed Cold Soak Filtration Test
Nova Biosource Fuels has reported that their biodiesel is already compliant with new ASTM D6751-08 Standard Specifications for biodiesel fuel. The new standards state that biodiesel fuels must pass a cold soak filtration test, which evaluates the performance of the fuel during cold weather. Nova Biosource Fuels’ Biodiesel has passed this test for more than a year, ensuring that they will be able to meet increased demand caused by the 2009 biodeisel mandate.
According to … Read the rest
Green Plains Renewable Energy (GPRE) In Joint Venture for Algae Biofuel
Green Plains Renewable Energy (GPRE) has announced a joint venture with Clarcor (CLC), BioProcessH2O and NTR to form BioProcessAlgae LLC with an aim to commercialize algae biofuels. The join venture company expects to produce algae at Green Plains ethanol plant in Shenandoah, Iowa.
“Algae is potentially a by-product of ethanol that makes the process cleaner and greener through carbon sequestration,” said Wayne Hoovestol, Chief Executive Officer. “Algae production fits into Green Plains’ business model since … Read the rest
Gushan Environmental Energies Ltd (GU) Releases 3rd Quarter Results
Gushan Environmental Energies released its 3rd quarter results today. Revenues increased 82.9% compared to last year’s third quarter, coming in at $66 million. Also compared to last year, gross profit is up 47.8% to $24.0 million. Compared to last year, income from operations is up 36.6% to $19.9 million. Non-GAAP net income, however, decreased by 3.5% from last year, coming in at $12.7 million. Since this time last year, Gushan has increased their biodiesel capacity … Read the rest
Converted Organics (COIN) Partners With Gro Group For Wide Distribution
Converted Organics (COIN) is announcing this morning that their complete line of organic fertilizers will be available at hundreds of independent garden centers, nurseries and specialty stores across the country through a partnership with Gro Group who will distribute the fertilizers.
“Converted Organics’ partnership with Gro Group will be instrumental in satisfying the nationwide consumer demand for our organic fertilizer products for the spring 2009 growing season,” said Richard P. Aleo, Executive Vice President of … Read the rest
Archer Daniels Midland (ADM) Releases 1st Quarter Results
Archer Daniels Midland released its first quarter results today. They reported a jump in profits, with net income of $1.05 billion, or $1.63 per share, That’s a big jump from this time last year, when the company reported net income of $441 million, or 68 cents per share.
Due to price increases, net sales rose 65 percent to $21.16 billion, even as sales volumes remained steady. In addition to the increase in sales, ADM … Read the rest
Environmental Power (EPG) To Fund Renewable Energy Projects With Convertible Notes
Environmental Power (EPG) announced the offering of its 13% Convertible Notes due Jan 1, 2014 to fund the construction and operation of renewable energy projects developed by its subsidiary, Microgy. Microgy is a developer, owner and operator of renewable gas facilities which uses advanced anaerobic digestion technology to extract methane rich biogas from animal and food industry waste. … Read the rest
Converted Organics (COIN) Gets Home Depot Deal
Converted Organics (COIN) rocketed nearly 20% today on news that some Northeast Home Depot stores will carry its organic fertilizer for the spring 2009 season.
“The Home Depot® opportunity represents a tremendous chance to expand the availability of high-quality organic fertilizer to consumers,” said Edward J. Gildea, President of Converted Organics. “That The Home Depot® would agree to carry our Lawn and Turf fertilizer is a significant event for Converted Organics. We are completing the … Read the rest