The following article is republished with permission from Cabot and written by Andy Obermueller of Government-Driven Investing.
The President’s health care initiative rests on a shelf with little talk in Congress about what’s next for the sweeping overhaul. At the same time, Mr. Obama has re-positioned the chessboard for his climate-control bill, suggesting at a town-hall meeting in Nashua, New Hampshire, last Tuesday that the legislation might need to be split: One bill would contain … 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
Verenium Corporation just announced that it has signed an agreement with Value Prior to Pulping (VPP), an organization that is a special project between the American Forest and Paper Association and Cleantech Partners, Inc. Under the agreement, the two organizations will work together to try out Verenium’s C5 technology to see how well it works for making ethanol from hemicelluloses created during the pulp and paper process.
If it works, an average kraft mill (producing … Read the rest
The joint venture between BP and Verenium (VRNM) to develop commercial scale cellulosic ethanol will be named Vercipia Biofuels and headquarters will be located to Highlands County, Florida the companies have announced. A second site is being developed in the Gulf Coast region.
“I continue to be pleased and enthusiastic with the progress our joint venture – Vercipia – has made in only a few short months, and I look forward to a highly productive … Read the rest
Verenium just announced a partnership with Add Food Service GmbH. Under the multi-product distribution agreement, Add Food Service GmbH will distribute two of Verenium’s specialty enzyme products, Fuelzyme and Veretase, in locations outside of the US, including Europe. These enzymes are used to liquefy starches for use in cellulosic ethanol as well as foods and beverages.
In a company press release, Janet Roemer, Verenium’s Executive Vice President, Specialty Enzymes Business, commented on the … Read the rest
The Verenium (VRNM) and BP cellulosic ethanol, 50/50 joint venture, now has the government behind it if the due diligence process goes well. The companies announced today that their Highland project in Florida has been selected by the US Dept of Energy to enter into the due diligence phase of its loan guarantee program, which may provide guarantees for project debt covering up to 80% of costs. They are expected to break ground on the … Read the rest
BP and Verenium just announced that they have been selected by the Department of Energy to begin the next phase of negotiations for the DOE loan guarantee program. If BP and Verenium are approved, the government may guarantee up to 80% of loans needed to finance their jointly-owned cellulosic ethanol project, scheduled to start construction next year.
“We must invest in a clean energy economy that will lead to new jobs, new businesses and reduce our dependence on foreign oil,” said President Obama. “The steps I am announcing today help bring us closer to that goal. If we are to … Read the rest
More bad news for ethanol…Aventine Renewable Energy Holdings, Inc, which produces ethanol from corn, just announced that it is having difficulty making payments to its creditors and that a Chapter 11 bankruptcy may be in the company’s near future, according to a story published by Reuters. According to Reuters, Aventine is taking a by-any-means necessary approach to raising capitol, "including seeking additional debt and equity financing and a potential sale of all or part of … Read the rest
Verenium and BP are moving forward on a joint venture to produce cellulosic ethanol. However, even with the $45 million investment dollars that Verenium gained as part of the deal, Earth2Tech reports that Verenium will still have to put its proposed cellulosic ethanol plant on hold. The company had originally expected to begin construction this year, but now expects to start work on the plant in 2010 instead.
Here are some of Earth2Tech’s comments on … Read the rest
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