Wednesday, August 1, 2007

The Good, The Bad and the Biofuel

Biodiesel Plant in Minot Shelved
A plant to make biodiesel from canola has been shelved after an economic development group withdrew its offer to provide land. The decision comes after more than two years of planning and millions of dollars in design and engineering work....
From ForexTV

Panda Ethanol Withdraws Share Offering

Panda Ethanol Inc. announced July 10 that it has withdrawn its offer to issue $140 million aggregate principal amount of 6 percent convertible, redeemable senior notes.

Panda officials felt that current market conditions were not conducive to achieving a per-share valuation which reflects the long-term value of the common stock....
From GrainNet

Pacific Ethanol Director Sells Shares
Pacific Ethanol Inc. director Bill Jones has sold 50,000 shares of the renewable producer's stock, about $750,000 worth.
Jones, former California Secretary of State, sold the shares for $15 to $15.08, according to documents filed Monday with the Securities & Exchange Commission.
Jones, who helped found the company in Fresno, had detailed the stock sale as part of a prearranged trading plan.
From MSN

Company Seeking Investors for East Arkansas Biodiesel Plant
At least 36 people have already invested in planned soybean oil and biodiesel plant in east Arkansas.
The Natural Fuels plant is being planned for a 65-70 acre tract in the Corning Industrial Park. The plant is expected to cost up to $100 million and will provide a local market for soybeans. The plant will also extract oil, sell soybean meal and process biodiesel fuel.
Natural Fuels is seeking 200 investors to buy shares of $10,000 each
From KTHV (Little Rock)

Liberty Renewable Pitching Michigan Investors
A group working to build the state's largest ethanol plant is at the state Capitol today, pitching investment opportunities alongside an Indy race car that runs on the corn-based fuel.
The exhibit will be at the Capitol until 2 p.m.
Officials from Corunna-based Liberty Renewable Fuels LLC hope to raise $50 million to $100 million, largely from Michigan-based investors, to complete their $185.6 million ethanol plant under construction near Ithaca.
From the Lansing State Journal

Ethanol helps a small town bloom
These days, the smell of money is the slightly acrid scent of fermenting corn that occasionally wafts over town.
Here in Iowa, and across a growing swath of the U.S. Midwest, making ethanol has meant a second chance for a rural economy that lives and breathes corn.

"This town was dying a slow death," said Craig Brownlee, a third-generation corn farmer from Emmitsburg, located northwest of Des Moines. "We weren't making any money and we were living off crop subsidies. Now, people are spending money like they haven't in a long time. There's a buzz around town."
From the Globe and Mail via Scripps