The Andersons just reported their 4th quarter and full year results. Although the company reported net income of $32.9 million, or $1.79 per share, the full year results represent a 54% decrease in net income from 2007, then the company earned $68.8 million, or $3.75 per share.
Looking at just the 4th quarter, the company reported a loss of $33.4 million, or $1.85/share. In the 4th quarter of last year, the company reported net income … Read the rest
Green Plains Renewable Energy has acquired a majority interest in Blendstar, LLC, a biofuel terminal operator from Houston, Texas. Green Plains Renewable Energy paid $9.0 million to Bioverda U.S. Holdings LLC in exchange for a 51% stake in Blendstar. Blendstar already has terminals in several cities, including Oklahoma City, Little Rock, Nashville, Knoxville, Louisville and Birmingham, and plans to build more in the near future.
Todd Becker, Green Plains Renewable Energy’s CEO, commented on the … Read the rest
Are you in the market for an ethanol plant? VeraSun Energy Corporation just announced that it is auctioning off seven of its ethanol plants. The plants, which VeraSun acquired when it merged with US BioEnergy, are capable of producing 640 million gallons of ethanol per year. VeraSun will auction them off between March 16th and March 31st. … Read the rest
Green Plains Renewable Energy just announced a third-party marketing deal with Bushmill’s Ethanol, Inc. The company operates an ethanol plant in Atwater, Minnesota which produces about 55 million gallons of ethanol per year. According to TradingMarkets.com, Green Plains Renewable Energy also "claimed it plans to produce, market and/or distribute approximately 635 million gallons of ethanol annually, which is equivalent to approximately 6% of the US’ total ethanol demand."
Green Plains Renewable Energy just announced that it will work with several other companies to begin producing biodiesel and ethanol from algae. Other companies involved in the venture include Clarcor Inc, a filtration products manufacturer from Tennessee; BioProcessH20 LLC, a photobioreactor and filtration system developer that will license the advanced photobioreactor technology used in converting the algae to fuel and NTR PLC, a company based in Ireland.
According to Ethanol Producer Magazine, "The size, scope … Read the rest
More bad news for ethanol…VeraSun Energy has suspended production at 3 of its distilleries: Bloomingberg, Albion and Ohio. The plants stopped running in the latter part of December, with the company citing higher corn costs and less demand from ethanol as the reasons behind the closure.
Justice Sirikah over at HotStocked.com notes that this isn’t the first time this has happened:
… Read the restThis is the second time that VeraSun has taken such an extreme measure since
Pacific Ethanol announced on Friday that it will be suspending ethanol production at its Madera plant starting tomorrow, January 12th. The plant can produce up to 40 million gallons of ethanol per year, but there is no word on when production will resume.
According to the Sacramento Business Journal, Pacific Ethanol "said in a news release that “extended unfavorable market conditions for producing ethanol” prompted the suspension.… Read the rest
Firefighters in Delphi, Indiana were able to bring a fire at the Anderson’s facility under control after a week of work. An enormous pile of corncobs caught fire last week, requiring 46 fire departments from 13 counties to contain the blaze. The firefighters at the scene were released on January 4th, once the fire had been brought down to an "under watch, controlled burn."
How will this incident affect the already-struggling ethanol company? According … Read the rest
Verenium Corporation has been given a warning by NASDAQ. The company is in violation of Marketplace Rule 4450 (b)(1)(A), which states that
Companies affiliated with NASDAQ Global Market must maintain a minimum market capitalisation of $50 million. As an alternative, a company may maintain total assets and total revenues of $50 million each for the most recently completed year (In this case 2007) or for two of the three most recent fiscal years.
Verenium … Read the rest
Rumors of imminent consolidation in the ethanol industry gave some of the industry’s major players a stock market boost on Wednesday. Poet LLC, the biggest fish in the ethanol pond, announced this week that it was considering snapping up some its competitors. Poet isn’t naming any names, but bankrupt VeraSun announced it had received a takeover bid from another unnamed ethanol company.
From MSN MoneyCentral, here’s a brief rundown on how ethanol share prices … Read the rest