China Integrated Energy (CBEH) has signed a non-binding letter of intent to acquire the assets of Hainan Lin Gao Chemical which includes the land and facilities to provide a place for CBEH to build a 300K ton biodiesel plant. The company is expected to close on the $9 million deal by the end of this quarter and begin production with an initial capacity of 100K tons within a year from the close. The facility will … Read the rest
Tag Archives: biodiesel
Archer Daniels Midland (ADM) Buys Oilseed Plant In Czech Republic
Archer Daniels Midland just announced that it has purchased an oilseed plant in the Czech Republic from ViaChem Group. The plant consists of facilities for crushing oilseeds, refining them and producing biodiesel. In addition to energy, the plant produces oil and meal for the food and feed markets.
In a press release, Brent Fenton, ADM Europe’s managing director, commented on the acquisition:
This acquisition will allow ADM to expand further its leadership position in agricultural … Read the rest
China Bio Energy (CBEH) Beats Estimates, Reaffirms 09 Outlook
China Bio Energy (CBEH) reported earnings today and the company beat on both EPS and revenues. EPS came in at .25/share vs the expectations of .19/share (matching the year ago quarter) on revenues of $65.2 million which was a 12% increase over the year ago quarter. After an initial pop in the stock this morning, it’s off the highs. Not too surprising considering the run it’s had over the past few weeks.
The increase in … Read the rest
Gushan Environmental (GU) Sinks After Temporary Plant Suspension
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
Gushan Environmental (GU) Reports Mixed Results, Off 16%
Gushan Environmental (GU), a leading China biodiesel producer announced mixed earnings results this morning, matching EPS estimates of .01/share which is a big drop from the .20/share it reported one year ago. Revenues came in about 10% lower than expectations at $40 million, nearly a 20% drop from the year ago period.
Looking ahead, the company expects its new plants in Chongqing and Hunan to begin production next quarter and increase production at the Shanghai … Read the rest
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
Darling International (DAR) And City Of San Francisco Partner On 10 Million Gallon Biodiesel Plant
The City of San Francisco has announced a plan to partner with Darling International to build a large biodiesel plant in the city. The new plant will utilize an existing building owned by Darling International, which will be retrofitted to produce fuel from tallow, restaurant grease and other waste fats. The plant is expected to generate 7.5-10 million gallons of biodiesel each year. In all likelihood, the fuel produced will be bought by the city … Read the rest
Gushan Environmental (GU) Tops Estimates
Gushan Environmental (GU), China’s largest producer of biodiesel topped estimates this morning with a non GAAP EPS of .23/share, edging out estimates of .22/share for an increase in 64% over the year ago period. Revenues came in ahead of estimates as well with 58.3 million in the quarter, a jump of about 35% over the year ago quarter.
“Gushan continued to deliver growth during the second quarter of 2008 as production ramped up at our … Read the rest
Brazilian Ethanol Plants to get $260M Loan
The Financial Times reported today that the board of the Inter-American Development Bank is set to approve a 15 year loan of $250M to three new ethanol plants. Despite the growing environmental concerns about biofuels this will be the biggest development ever by a multilateral intuition. The new ethanol project will cost over $1bn and will be built by Santa Elisa Vale Do Rosario, a Brazilian company, and US private equity groups.
"Steady rises in … Read the rest