Rentech Completes Acquisition of Majority of ClearFuels Technology Inc.
May 17 2011 - 12:00PM
Business Wire
Rentech, Inc. (NYSE AMEX: RTK) announced today that it has
completed the acquisition of a substantial majority of the equity
ownership of ClearFuels Technology Inc. (ClearFuels), with
ClearFuels continuing as a Hawaiian company, and existing
ClearFuels investors retaining a minority interest.
The acquisition, previously announced on April 19, 2011, enables
Rentech to add the ClearFuels biomass gasifier to the Company’s
suite of energy conversion technologies, which includes the
Rentech-SilvaGas biomass gasifier and Rentech’s process to produce
drop-in fuels from synthetic gas. Rentech can offer multiple
integrated systems to convert a wide variety of cellulosic
materials into renewable low-carbon fuels certified for commercial
aviation and ground vehicles, which can help address compliance
with the European Union’s Emissions Trading Scheme and other low
carbon and renewable fuels standards.
About Rentech, Inc.
Rentech, Inc. (www.rentechinc.com), incorporated in 1981,
provides clean energy solutions. The Company's Rentech-SilvaGas and
Rentech-ClearFuels biomass gasification processes can convert
multiple cellulosic biomass feedstocks into synthesis gas (syngas)
for production of renewable fuels and power. Combining the
gasification processes with Rentech's unique application of syngas
conditioning and clean-up technology and the patented Rentech
Process based on Fischer-Tropsch chemistry, Rentech offers an
integrated solution for production of synthetic fuels from
cellulosic biomass. The Rentech Process can also convert syngas
from fossil resources into ultra-clean synthetic jet and diesel
fuels, specialty waxes, and chemicals. Final product upgrading and
acid gas removal technologies are provided under an alliance with
UOP, a Honeywell company. Rentech develops projects and offers
licenses for these technologies for application in synthetic fuels
and power facilities worldwide. Rentech Energy Midwest Corporation,
the Company's wholly-owned subsidiary, manufactures and sells
nitrogen fertilizer products including ammonia, urea ammonia
nitrate, urea granule, and urea solution in the corn-belt region of
the central United States.
Safe Harbor Statement
This press release contains forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995
about matters such as the capabilities of the ClearFuels biomass
gasification technology, the ability to integrate the gasification
technology with Rentech technologies and the characteristics of the
renewable fuels to be produced from the technologies. These
statements are based on management's current expectations and
actual results may differ materially as a result of various risks
and uncertainties. Other factors that could cause actual results to
differ from those reflected in the forward-looking statements
include the financial means of Rentech to build proposed projects,
fluctuations in commodities prices including the price of oil and
the materials necessary to construct projects, the impact of
changing government regulations on the project permitting process
and the qualification of renewable power and fuels and factors set
forth in the Company's press releases and periodic public filings
with the Securities and Exchange Commission, which are available
via Rentech's web site at www.rentechinc.com. The forward-looking statements
in this press release are made as of the date of this release, and
Rentech does not undertake to revise or update these
forward-looking statements, except to the extent that it is
required to do so under applicable law.
Rentech, Inc. (NASDAQ:RTK)
Historical Stock Chart
From Jun 2024 to Jul 2024
Rentech, Inc. (NASDAQ:RTK)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Rentech, Inc. (NASDAQ): 0 recent articles
More Rentech, Inc. News Articles