On Tuesday, Greenhunter Energy announced that they have received $30 million in tax-exempt Recovery Zone bonds to expand their Mesquite Lake biomass power facility near El Centro, California.
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By the time both phases of the expansion are completed, the facility will provide enough electricity to power 18,000 homes and will create about 642 jobs.
In a press release, Gary C. Evans, Chairman and Chief Executive … Read the rest
Archer Daniels Midland announced the construction of a new Brazilian biofuel plant on Tuesday. The biodiesel plant, ADM’s second in Brazil, will be located in Joacaba, Santa Catarina next to an existing soybean plant and will increase ADM’s biodiesel capacity in Brazil by 50%.
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In a press release, Patricia Woertz, chairman, chief executive officer and president of ADM, commented on the news:
“We see exciting opportunities for … Read the rest
China Integrated Energy (CBEH) announced it’s closed on the acquisition of a 50,000 metric ton biodiesel production facility in Chongqing City, China and expects to ramp up production and distribution of biodiesel product from this facility immediately very soon. The plant adds to CBEH’s current 100K ton production facility along with another new 50K ton plant and will add to revenues right away. The company expects the plant to add $32 million in revenues and … Read the rest
In recent weeks the ethanol/biofuel stocks such Pacific Ethanol (PEIX), Verenium (VRNM), Green Plains Renewable Energy (GPRE) and Biofuel Energy (BIOF) are showing quite a bit of momentum. While big initial surges have already taken place, bullish digestion periods in these stocks may soon give way to more gains. Below I’ve provided a video walking through the charts of these stocks.
24/7 Wall St published their list of the 25 most important alternative energy companies a few days ago and broke it down by category. I thought I’d highlight the companies they consider to be the most important in each category (which I agree with) and add in some of my own thoughts. There is one glaring omission in 24/7 Wall St’s report and that is geothermal. Geothermal remains the red headed step child of the … Read the rest
A few bullish analyst calls to tell you about this morning.
Yesterday I posted about Verenium’s (VRNM) approval in China for Purifine which sent the stock soaring. The pull back today is offering a 2nd chance opportunity. Shares have pulled back to what is now support around the 200 day moving average.
Olympia Capital chimed in on the news and upgraded the stock from Neutral to Buy and raised the price target from $3 to … Read the rest
Pacific Ethanol (PEIX) is moving in pre-market trading on news the company plans to resume ethanol production at its Stockton, California facility and expects to begin in December. The move comes as a result of two big decisions – the approval in the California state budget to provide funding for the California Ethanol Producer Incentive Program which provides payments to ethanol producers during times when the margins are unfavorable (I’d sure love that in my … Read the rest
Verenium (VRNM) is breaking out with heavy volume today on news it has licensed a new enzyme for use in the production of edible oil products to Bunge Oils, a subsidiary of Bunge Limited (BG). The enzyme was developed as part of the R&D agreement with Bunge to develop edible oils such as cooking oil, shortening, margarines and other products derived from soybeans and corn.
====> Click Here For Your FREE Daily Verenium Technical Analysis… Read the rest
A couple more firms have come out with notes on Itron (ITRI) after it was rumored that Siliver Springs Networks will win the BG&E deal, not Itron. Hat tip to Street Insider for the analyst comments.
Wedbush is downgrading Itron from Outperform to Neutral and is also cutting the price target from $85 to $62. “The loss of BG&E to SSN suggests continued headwinds for Itron’s backlog growth, lowers Itron’s general credibility with existing … Read the rest
Green Plains Renewable (GPRE) reported mixed results after the bell today, but it still represented another quarter of big quarter over quarter growth. The company missed the EPS analyst estimate of .36, posting .27, but came in ahead of analyst estimates on the revenue side, posting $453 million vs the estimate of $426 million. If my math is correct that’s an 800% increase in earnings over the year ago quarter and a 60% surge in … Read the rest