Xcel Energy, along with the Wisconsin Office of Energy Independence, are providing funding for a study to determine the viability of using sustainably managed waste wood as a biomass fuel. The wood, which would consist of brush or of fast-growing trees that don’t provide high-quality wood, could be grown by agricultural coops, harvested sustainably, and used to power Xcel’s French Island plant.
In an article posted on TradingMarkets.com, David Donovan, Xcel’s manager of regulatory policy … Read the rest
The US government announced today that they’ll soon begin accepting applications for around $3 billion in government funds to spur development in renewable energy across the country. Previously, companies could file for a tax credit to cover a portion of development costs, but this provides an immediate infusion of cash to help meet the government’s goal of doubling renewable energy production over the next 3 years.
“This partnership between Treasury and Energy will enable both … Read the rest
There’s a new renewable energy stock on the market-China Bio Energy has been approved to trade on the Nasdaq as of today. The company distributes both traditional petroleum products and biodiesel made from inedible seeds and leftover restaurant oil and grease.
In a company press release, Mr. Xincheng Gao, Chief Executive Officer of China Bio Energy Holdings Group, commented on the news:
“We are very pleased to join the Nasdaq Capital Market alongside other … Read the rest
The Verenium (VRNM) and BP cellulosic ethanol, 50/50 joint venture, now has the government behind it if the due diligence process goes well. The companies announced today that their Highland project in Florida has been selected by the US Dept of Energy to enter into the due diligence phase of its loan guarantee program, which may provide guarantees for project debt covering up to 80% of costs. They are expected to break ground on the … Read the rest
BP and Verenium just announced that they have been selected by the Department of Energy to begin the next phase of negotiations for the DOE loan guarantee program. If BP and Verenium are approved, the government may guarantee up to 80% of loans needed to finance their jointly-owned cellulosic ethanol project, scheduled to start construction next year.
Specifications for synthetic jet fuel for commercial aviation use was passed by the aviation fuels subcommittee of ASTM International with final approval expected in the fall as long as the FAA is on board as well.
Greenhunter Biofuels just announced that it is putting its Houston biofuels refinery up for sale. They are also amending a credit agreement relating to the plant. Under the amended agreement, WestLB AG, the lender, has agreed to give Greenhunter Energy until November of 2009 to repay the loan before declaring them to be in default.
In a press release posted on Greenhunter’s website, President, chairman and CEO Gary Evans commented on the agreement:
Greenhunter Energy’s share price was up by 62% on Tuesday, and the New York Stock Exchange wants to know why. After Greenhunter shares hit their nadir with a record-low price of 91 cents on Tuesday, they surged to $1.86 on Thursday, with a record number of $1.6 million shares sold.
Greenhunter won’t comment on the surge, but Pavel Molchanov, an analyst from Raymond James speculated in the Wall Street Journal that it could be due … Read the rest
Gushan Environmental (GU) plunged about 20% this morning, but well off the lows and getting back above the 50 day moving average after the company announced it was temporarily suspending production at Fujian Gushan Biodiesel Energy Co because of a dispute with local government over consumption tax issues. Gushan claims that its biodiesel which is produced from used cooking, vegetable and jatropha oil should not be subject to biodiesel taxes implemented Jan 1st 2009. The … Read the rest
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