The Air Force along with the Army, Navy and Marines have been increasingly interested in the use of plant fuel and waste oils to power their fuel hungry operations. The continued instability of the Middle East has accelerated the concern that skyrocketing oil prices is a major security concern. Hence the need to begin to look at alternatives such as oil waste and plant derived fuel. A variety of alternative could be used.
“We can … Read the rest
For the first time in history, a US commercial airline has hit the skies using synthetic jet fuel. A United Airlines validation flight was conducted today using Rentech’s (RTK) synthetic jet fuel derived from nat gas and converted to liquid fuel through a proprietary process. The airliner used Rentech fuel in one engine with a 40% mix.
Late last year, 13 airlines signed an MOU with Rentech for future supply of up to 250 … Read the rest
Rentech just announced that is has signed a non-binding memorandum of understanding with 13 different air carriers. Although the MOU is non-binding, its is expected to serve as the basis of a supply contract for the synthetic jet fuel that Rentech will produce at the Natchez Project, the fuel and power facility that Rentech plans to build in Mississippi.
If all goes well, the 13 airlines (Air Canada, AirTran Airways, American Airlines, Atlas Air, Delta … Read the rest
Rentech (RTK) has had a great few months on a flurry of good news, but tonight the good news streak comes to an end. The company reported a big plunge in revenues from the year ago quarter due to the weak economy and lower corn prices. The company reported just $24.7 million in revenues, representing a 75% plunge from the year ago quarter. The EPS loss matched the year ago quarter at -.03/share.
The … Read the rest
Rentech (RTK) is up in premarket trading about 7% on news that along with ClearFuels Technology will receive up to $23 million in government funds to construct a biomass gasifier at a Rentech facility in Denver. The 20 ton per day ClearFuels gasifier will produce synthetic fuel from sugar can, wood waste and other cellulosic feedstocks. Knowledge from this test project will help the companies develop commercial scale facilities in the future. ClearFuels (in which … Read the rest
Rentech (RTK) is announcing this morning that they have signed a non-binding memorandum of understanding (MOU) with Beach Petroleum today to explore the development of a commercial scale manufacturing facility using Rentech’s technology to produce synthetic fuels from synthesis gas derived from Beach Petroleum’s gas resources.
Rentech’s proprietary technology converts syngas from fossil and biomass resources into hydrocarbons that can be refined into cleaner, synthetic fuels. Beach Petroleums expansive reserves in the South Australian Copper … Read the rest
Rentech just announced that its synthetic diesel fuel, RenDiesel, will be used in a special demonstration military vehicle at Selfridge Air Show at Selfridge Air National Guard Base on August 22 and 23rd. According to this press release, Rentech’s fuel will be used in a LASSO all-terrain military vehicle to demonstrate the viability of using synthetic fuel produced from US coal and biomass for military use. … Read the rest
Rentech (RTK) is on a roll. The stock is up another 25% in premarket trading after announcing this morning that they have signed a multi year deal with eight airlines to supply up to 1.5 gallons/year of renewable synthetic diesel (RenDiesel) for ground service equipment operations at the LA Airport (LAX) beginning in about two years
D. Hunt Ramsbottom, CEO of Rentech, said, “This commercial purchase contract among Rentech, ASIG and the airlines validates the … Read the rest
Wow, what a week for Rentech (RTK). The company announced late last week that their synthetic fuel was approved for use in jet fuel and this morning they’re announcing record quarterly profits of .22/share on revenues that surged 50% over the year ago quarter to $91.4 million, sending the stock soaring again over 50%. The company is attributing the record quarter to higher product pricing and favorable weather conditions and now expects that EPS will … Read the rest
Over one month ago, I posted here that Rentech (RTK) was approaching final approval for use of its synthetic fuel in commercial aviation. It seemed at the time that the news would be enough to send the penny stock soaring, but it appears traders were waiting for final approval. Today, the stock was launched into orbit, doubling in price right at the open, but gave back much of the gains and closed up less than … Read the rest