On Tuesday, Greenhunter Energy announced that they have received $30 million in tax-exempt Recovery Zone bonds to expand their Mesquite Lake biomass power facility near El Centro, California.
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By the time both phases of the expansion are completed, the facility will provide enough electricity to power 18,000 homes and will create about 642 jobs.
In a press release, Gary C. Evans, Chairman and Chief Executive … Read the rest
Greenhunter Energy just announced that it has sold 100% of its ownership interest in Guangdong MingYang Wind Power Technology Co., Ltd to DT Capital China Growth Fund L.P for a cool $9,110,000.
In a press release, Mr. Gary C. Evans, Chairman and CEO of GreenHunter Energy, Inc., explained why selling this investment makes sense and how it will impact the company:
“When we originally made this investment in late 2007, the primary purpose was … Read the rest
I’ve written about this so many times before and this is perhaps one of the worst examples of a misleading headline. Do a search for GRH and you’ll see one headline saying that GreenHunter Energy (GRH) turns to a profit. Perhaps (I haven’t located the benefit of the one time events the company refers to in its press release) but take a look at the revenue number. They reported $1.7 million in revenue which is … Read the rest
A lawsuit filed against Greenhunter Energy in Kansas has been dismissed. The lawsuit was filed by ethanol producer Orion Ethanol, Inc in June, 2008.
In a company press release, Gary C. Evans, Greenhunter’s Chairman, President and CEO, commented on the dismissal:
“Since this lawsuit was filed over a year ago against our companies and our largest institutional shareholder, we have vigorously denied all the allegations in the lawsuit and stated that this litigation was … Read the rest
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:
“By amending … Read the rest
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
According to Energy Current, GreenHunter Energy just announced the sale of its Telogia, Florida wood-powered biomass plant. The company bought the 14 MW plant in September of last year for $2.5 million. The plant was sold to Multitrade Telogia, LLC for $5.7 million in cash, including 1.7 million in debt.
Gary C. Evans, Greenhunter Energy’s Chairman and CEO, commented on the sale, saying
… Read the rest"The sale of this non cash flow-producing asset will allow our
Greenhunter Energy has completed an initial assessment of the damage Hurricane Ike caused to its Renewable Fuels Campus in Houston, Texas. Greenhunter’s Renewable Fuels Campus is home to their 105-MMGY biodiesel refinery, the largest in the country. Ike knocked out power and caused extensive flooding in the Houston area, and the campus sustained the following damage: