Renewal Fuels, Inc (RNWF)

[saveapenny]

Here is the description of RNWF company found on Reuters. Link given below.

Full DescriptionRenewal Fuels, Inc. (Renewal Fuels), formerly Tech Laboratories, Inc., incorporated in 1947, is engaged in the business of designing, developing, manufacturing and marketing bodies processing equipment and accessories to convert used and fresh vegetable oil into clean-burning bodies. The Company’s products allow customers to make biodiesel fuel, which is capable of powering all diesel fuel engines, at either personal or commercial production scales. It has developed a network of dealers in the United States for sale and distribution of its products. Renewal Fuels’ manufacturing facilities are located in Sparks, Nevada.


On July 2, 2007, it acquired Biodiesel Solutions Inc. (BSI). BSI manufactures the BiodieselMaster, a factory-built biodiesel processing plant that is suitable for a variety of customers, including small communities, farms, farm co-operatives and trucking fleets. On July 2, 2007, the Company and its wholly owned subsidiary BSI Acquisitions, Inc. (BSI Acquisitions) entered into a merger agreement with BSI. Pursuant to the BSI Merger Agreement, BSI Acquisitions was merged with and into BSI. In April 2007, the Company acquired Renewal Fuels, Inc., owner of the FuelMeister product division of Biodiesel Solutions Inc.


In September 2007, the Company purchased two greenhouses in Kansas, which were later transferred to its Renewal Plantations, Inc. subsidiary (RPI). RPI is engaged in the growth of cellulosic feedstock for the biofuels industry. Through a service agreement with another party, the Company is establishing nurseries for the growth of high-density, short-rotation trees, which are designed to provide a high concentration of biomass per acre. RPI was formed on February 11, 2008, and as of December 31, 2007, had not produced revenue from operations. As of December 31, 2007, the Company was completing installation of the nurseries and establishing customers for the products to be produced by RPI.


Renewal Fuels manufactures and markets the FuelMeister line of personal biodiesel processors from its facility in Sparks, Nevada. The FuelMeister allows a user to make biodiesel from waste vegetable oil, for personal use. The FuelMeister line of biodiesel processors are produced from industrial-grade materials. In general, it takes approximately half hour hands-on time per batch of biodiesel fuel production. The products offered are not do-it-yourself kits, but complete systems with all key components needed to make biodiesel at home.


BSI manufactures a complementary product to FuelMeister called BiodieselMaster. This product is a factory-built biodiesel processing plant that is appropriately scaled for a variety of customers, including small communities, farms, farm co-ops and trucking fleets. The BiodieselMaster is a community-scale biodiesel processing unit that is designed to produce 350,000 gallons of biodiesel per year.


The Company competes with Extreme Biodiesel, EZ Biodiesel and Biodiesel Works.

http://www.reuters.com/finance/stocks/companyProfile?symbol=RNWF.PK