Green Plains Renewable Energy just announced that it will break ground on the second phase of its Grower Harvester (TM) algae project within the next two weeks. During Phase II, Green Plains Renewable Energy, working in conjunction with BioProcess Algae LLC, its partner in the Grower Harvester project, will scale the technology to be 20 times greater than the first phase of the project.
In a press release, Todd Becker, President and Chief Executive … Read the rest
Shares of Verenium (VRNM) nearly doubled at the open this morning before giving much of it back after it was announced that BP would purchase their cellulosic biofuels business for $98 million which includes facilities in Jennings, LA and San Diego, California. Verenium retains its commercial enzyme business and retains the right to develop its own cellulosic enzyme program, select R&D capabilities and access to select biofuel technology developed by BP.
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Several analyst rating changes today. Analyst notes courtesy of Street Insider.
Upgrades
Ardour Capital upgraded Darling (DAR) from Hold to Accumulate and raised price target to $9.50. Shares up nearly 4% today but still trading below the 200 day moving average. Get a FREE Darling Intl Technical Analysis
Ardour Capital also upgraded Akeena Solar (AKNS) from Hold to Buy and has a $1.25 price target (about 50% higher than the current price) AKNS is … Read the rest
New Generation Biofuels (NGBF) announced it has filed a patent application for its new glycerin biofuel.
“This new patent pending technology offers another effective biofuel solution for our customers’ environmental and performance challenges,” added Chief Technology Officer Dr. Andrea Festuccia. “It is formulated, as are our other technologies, to reduce emissions while providing physical product properties that are desirable for many of our customers’ needs. The low viscosity and temperature characteristics such as an extremely … Read the rest
As expected, Converted Organics (COIN) reported another healthy increase in quarter over quarter revenue growth and continues to narrow its quarterly loss. The company reported an EPS loss .17 which is a big improvement over the .49 loss in the year ago quarter and the .27/share loss reported last quarter. Revenues surged 80% to 900K and considering this quarter is typically their strongest, they should be able to crack the $1 million in quarterly … Read the rest
Converted Organics (COIN) never misses an opportunity to issue a positive press release and they were at it again this morning saying that sales have increased 200% in the pro lawn care market vs the same period last year. Total company revenues were only $490K in the year ago quarter, so it wouldn’t take much to achieve 200% growth, but a decent milestone for a small company and just maybe they will crack the $1 … Read the rest
Verenium (VRNM) is another one of those green stocks that’s probably best left alone. No profits in sight and continuing to trade around all time lows. The company posted another big loss of $1.05 after the bell today which was much steeper than the .33/share loss analysts had expected. Revenues were also light coming in at $13 million vs the analyst estimate of $17.5 million. If there is one bright spot in the quarter, it’s … Read the rest
Converted Organics (COIN) popped a bit this morning with volume when it announced that Whole Foods (WFMI) has been carrying its organic fertilizer product in quite a few more stores this year over last year. COIN never misses a chance to get a positive press release out and they didn’t miss this opportunity either. Whole Foods carried the product in just 18 stores last year, but this year is carrying it in 84 stores.
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For the first time in history, a US commercial airline has hit the skies using synthetic jet fuel. A United Airlines validation flight was conducted today using Rentech’s (RTK) synthetic jet fuel derived from nat gas and converted to liquid fuel through a proprietary process. The airliner used Rentech fuel in one engine with a 40% mix.
Late last year, 13 airlines signed an MOU with Rentech for future supply of up to 250 … Read the rest
Converted Organics (COIN) is rocketing higher this morning with very heavy volume after announcing moments ago that same store sales increased 129%. COIN sells its organic fertilizers at Whole Foods, Walmart, Sam’s Club and Big Box retailers.
The company has been aggressive in its marketing campaign and credits the advertising with driving sales. The campaign has involved in store merchandising, direct mail, magazines, email, text messages, social media (youtube, twitter, facebook, linked in) as … Read the rest