Waste not, want not: Green Plains Renewable Energy just announced that they will begin extracting corn oil at its ethanol plants, a project the company expects to supplement its operating income with an additional $15 million to $19 million per year. Green Plains expects to have the technology in place at all of its plants by the first quarter of next year.
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In a press release… Read the rest
Pacific Ethanol just announced that its Chapter 11 bankruptcy plan has been approved and its plants will soon be out of bankruptcy protection. The restructuring plan gets rid of t $290 million in debt. The four plants that PEIX owns will be transferred to a holding company owned by its lenders, but PEIX will continue to run them.
For up to $30 million, the plan also gives PEIX the option to purchase 25 percent equity … 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
Green Plains Renewable Energy just announced that they will be acquiring agribusiness operations from the Tom Wade family and Farmers Grain of Trenton, LLC.
Under the terms of the agreement, Green Plans Renewable Energy will purchase 5 grain elevators located within a 50-mile radius of Green Plains’ Obion, Tennessee plant. The elevators can store 11.7 million bushels of grain, bringing the company’s total storage capacity to 30.3 million bushels. The company is also acquiring additional … Read the rest
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Pacific Ethanol (PEIX) is down more than 20% in premarket trading after it was announced that its subsidiaries filed a reorganization plan with the bankruptcy court in Delaware in cooperation with its lenders. The plan provides for up to $35 in new credit and restructures more than $400 million in debt. In return, the lenders will own the subsidiaries which will be combined under a new … Read the rest
Pacific Ethanol just announced that it will be partnering with Socius CG II, Ltd. to satisfy $34.7 million of outstanding debt with Lyles United LLC and its affiliate Lyles Mechanical Co. Under the agreement between the 3 companies, Lyle has agreed to sell the debt to Socius in $5 million segments.In exchange, Pacific Ethanol will provide Socius with free-trading shares of the Company’s common stock. These shares will be provided at a 20 percent discount … Read the rest
Green Plains Renewable Energy (GPRE) continues to get back in the black with a big splash. After reporting steep losses in 2007 and 2008, the company bounced back with a big surge in revenues and earnings last year as ethanol production increases along with prices. It’s safe to say that conditions for ethanol producers are quite a bit better now than they were a couple years ago and that’s certainly reflected in the stock prices … Read the rest
By Sam Hopkins of GreenChipStocks.com
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I’m in Washington, D.C. today for the American Council on Renewable Energy’s RETECH Expo, where I’m mining the showcases and speakers for new stock picks. Not every technology or company here will be a home-run investment. To tell the truth, many of them won’t even make it ten years without being bought out or folding…
Others will make headlines and drive market returns, … Read the rest
Prepare for a big move in biofuel plays, possibly today. Reuters reported yesterday that the EPA could issue new rules (or RFS2 – renewable fuels standard) as soon as today on measuring emissions from biofuels according to an anonymous source.
A 2007 proposal would require ethanol to emit less greenhouse gas than gasoline over the life cycle of the fuel while cellulosic fuels would be required to be even cleaner. Of course, the industry opposes … Read the rest
As reported by Agriculture.com’s Don Looker, Margo Oge, director of transportation and air quality at the EPA, did not attend this year’s Iowa Renewable Fuels Association summit because she was busy writing the second draft of the EPA’s new renewable fuel standards. The new standards are expected to be announced very soon, and the continued recovery of the American biofuels industry may hang in the balance.
Per the Energy Independence and Security Act of 2007, … Read the rest