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NEW YORK (AP) - Shares of ethanol producers gained traction Wednesday as oil prices spiked and the price of corn, used to make the alternative fuel, declined.
In midday trading, a barrel of light, sweet crude jumped $1.48 to $64.41 on the New York Mercantile Exchange.
Crude briefly topped $68 a barrel in electronic trading a day earlier amid concerns over tensions between the West and Iran, a major oil-producing nation. A government report on Wednesday showing an unexpected drop in crude oil inventories also bolstered prices.
Corn fell 4.4 cents to $3.88 a bushel on the Chicago Board of Trade.
Citigroup analyst David Driscoll projected an extended decline in corn prices, which have reached record heights in recent months on the back of rising demand for ethanol.
The U.S. Department of Agriculture reports spring plantings on Friday, and analysts largely expect to see a sharp increase in corn acreage compared with last year. More corn planted means more corn supply will likely reach the market, weather and all other influences being equal. That bodes for a decline in prices, Driscoll said.
Ethanol rose a penny to $2.31 a gallon on the Chicago Board of Trade.
Higher ethanol prices and lower corn costs can translate into wider margins for ethanol makers.
Shares of Archer Daniels Midland Co. jumped $1.23, or 3.4 percent, to $37.17 in midday trading on the New York Stock Exchange, while Verasun Energy Corp. shares picked up 48 cents, or 2.5 percent, at $19.55. Pacific Ethanol Inc. shares added 28 cents at $16.36 on the Nasdaq Stock Market.
Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistrib
techno when was ur conversation with frisco?
Xethanol Announces 2006 Financial Resultsadvertisement
Related information E-mail this article Print-friendly version Discuss this articleStocks mentioned in this articleXethanol Corporation (XNL) Stock Quote, Chart, NewsRelated topicsEarnings Reports
All BusinessWire NewsXethanol Corporation XNL, a renewable energy company producing ethanol and its co-products, today reported financial results for the year ended December 31, 2006.
Financial Results
Related newsStocks End Mixed After Trimming LossesDollar Down, Gold Mixed in EuropPremarket Movers: Osiris Therapeutics UpWall Street Awaits Home Sales, GDP Data
The company reported net sales of $11.0 million for 2006, a 159 percent increase from net sales of $4.3 million for the prior year. The increase in net sales was primarily due to a full year of ethanol sales and related products at the Xethanol BioFuels plant in Blairstown, Iowa, compared to only six months in 2005. During 2006, BioFuels sold 5.2 million gallons of ethanol at an average price of $1.99 per gallon and generated additional revenue of $663,572 from the sale of by-products.
For the year ended December 31, 2006, the company reported a net loss of $20.2 million, or ($0.93) per share as compared to an $11.4 million net loss, or ($0.84) per share for the prior year. The increase was primarily the result of an increase of general and administration and other expenses, research and development expenses as well as an impairment loss on fixed assets. Included in the net loss for the year ended December 31, 2006 were non-cash charges totaling $14.4 million. These non-cash charges included charges related to the issuance of stock options and warrants, impairment losses on investment and fixed assets, and depreciation and amortization. As of December 31, 2006, the company had cash of $24.2 million.
About Xethanol Corporation
Xethanol Corporation is a renewable energy company producing ethanol and its co-products. The company owns an ethanol plant in Iowa that is currently producing ethanol, using corn as its feedstock. The company's goal is to develop or acquire methods of converting waste biomass raw materials into ethanol. It is executing a two-pronged business strategy: a technology strategy in which it works with leading scientists affiliated with national research laboratories and universities to license, acquire and commercialize innovative technologies; and a production strategy in which it plans to develop operating facilities located at or near the source of waste biomass and in proximity to high demand ethanol markets. For more information about Xethanol, please visit its website at http://www.xethanol.com.
XETHANOL CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
Years Ended December 31,
---------------------------
2006 2005
------------- -------------
Net sales $ 11,028,671 $ 4,264,732
Cost of sales, including depreciation of
$450,536 and $263,651 for 2006 and 2005 10,090,727 4,878,152
------------- -------------
Gross profit (loss) 937,944 (613,420)
------------- -------------
Operating expenses:
General and administrative expenses, incl.
depreciation and amortization of $340,790
and $275,280 for 2006 and 2005 15,294,463 6,359,771
Research and development 851,830 133,420
Impairment loss - fixed assets 513,942 -
Write-off of net intangible assets and
goodwill - 3,635,416
------------- -------------
16,660,235 10,128,607
------------- -------------
Loss from operations before other income
(expense) (15,722,291) (10,742,027)
------------- -------------
Other income (expense):
Interest income 1,184,161 68,755
Organization expense - (300,000)
Loss on royalty note conversion (1,966,712) -
Interest expense (216,831) (659,030)
Impairment loss - investment in H2Diesel
Holdings, Inc. (2,321,514) -
Loss on equity of H2Diesel Holdings, Inc. (1,626,603) -
Other income 491,061 255,227
------------- -------------
Total other income (expense) (4,456,438) (635,048)
------------- -------------
Net loss $(20,178,729) $(11,377,075)
============= =============
Basic and diluted net loss per share (2005
Restated) $ (0.93) $ (0.84)
============= =============
Weighted average number of shares
outstanding (2005 Restated) 21,604,355 13,475,166
============= =============
XETHANOL CORPORATION
CONSOLIDATED BALANCE SHEETS
December 31, December 31,
2006 2005
------------- -------------
ASSETS
Current assets:
Cash and cash equivalents $ 24,183,165 $ 802,664
Receivables 581,762 565,041
Inventories 290,747 196,132
Other current assets 846,097 172,168
------------- -------------
Total current assets 25,901,771 1,736,005
Property and equipment, net 8,595,708 6,682,433
Property held for development 12,552,877 -
Investment in and advances to H2Diesel
Holdings, Inc. 1,963,481 -
Research and license agreements, net of
amortization of $136,291 895,359 -
Other assets 1,537,123 686,955
------------- -------------
TOTAL ASSETS $ 51,446,319 $ 9,105,393
============= =============
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued expenses $ 1,228,898 $ 1,065,249
Accounts payable - related parties 317,727 56,080
Mortgage payable - 1,125,000
------------- -------------
Total current liabilities 1,546,625 2,246,329
Senior secured notes payable - 6,600,000
Note payable 309,914 -
Minority interest 115,617 -
Capitalized lease obligation 22,557 30,388
------------- -------------
Total liabilities 1,994,713 8,876,717
------------- -------------
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.01 par value, 1,000,000
shares authorized; 0 shares issued and
outstanding - -
Common stock, $0.001 par value, 100,000,000
shares authorized; 28,497,648 and
15,011,219 shares issued and outstanding
in 2006 and 2005, respectively 28,497 15,011
Additional paid-in-capital 84,974,205 15,586,032
Accumulated deficit (35,551,096) (15,372,367)
------------- -------------
Total stockholders' equity 49,451,606 228,676
------------- -------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 51,446,319 $ 9,105,393
looks like they skipped over us?? how is that possible with the connections these guys have? do we have a real business??
just make sure you dont shoot the bottom of the barrel out
how is it posible a full year of updates with 3 plants being discussed and the big bear stearns in the on deck circle to help us out and the stock is back to where we were a year ago????? 76 cents again....frustrated here
Calif. ethanol firm raises $200-mln financing
Monday, September 11, 2006 4:55:54 PM (GMT-04:00)
Provided by: Reuters News
SAN FRANCISCO, Sept 11 (Reuters) - Ethanol production company Cilion Inc. said on Monday it raised more than $200 million in a second equity round of financing to build plants to produce the biofuel.
Cilion was formed in June with a partnership between Western Milling, one of California's largest grain milling companies, and the Khosla Ventures venture capital firm.
Virgin Group's [VA.UL] new Virgin Fuel business also joined the second round along with Yucaipa Companies and Advanced Equities Inc., Cilion said in a release.
British billionaire Richard Branson recently launched Virgin Fuels and plans to invest up to $400 million in renewable energy development over the next three years.
Cilion, based in Goshen, California, said it will operate 55-million-gallons-a-year ethanol plants using multiple feedstocks.
((Reporting by Leonard Anderson, editing by Braden Reddall; Reuters Messaging: leonard.anderson.reuters.com@reuters.net; 1 415 677 3923))
Keywords: ENERGY CILION ETHANOL
WHERE IS THE MONEY????
DJ Hawkeye Holdings Boosts IPO Size To $523M From $350M
Wednesday, August 09, 2006 7:13:45 AM (GMT-04:00)
Provided by: Dow Jones Capital Markets Report
WASHINGTON (Dow Jones)--Underwriters for Hawkeye Holdings Inc. on Wednesday increased the offering size of the company's pending initial public offering to $523 million from $350 million, according to an amended Form S-1 filed with the Securities and Exchange Commission.
The Iowa-based ethanol producer didn't disclose details about the number of shares to be offered or an estimated price range for the IPO.
The $523 million valuation for the IPO was estimated solely for calculating the registration fee, Hawkeye said in the filing.
Hawkeye Holdings said it intends to use approximately $200 million of the net proceeds from the IPO to redeem a portion of its 8% mandatorily redeemable preferred stock, $150 million to fund its growth strategy and $50 million to repay debt.
Any proceeds from the exercise of the underwriters' overallotment option to purchase additional shares will be used to pay a dividend to the company's stockholders of record prior to the IPO. Investors in the IPO won't receive any portion of the dividend, Wednesday's filing said..
Credit Suisse, Morgan Stanley, Banc of America Securities LLC, Goldman, Sachs & Co., Cowen and Co. and Jefferies & Co. were listed as underwriters for the offering.
For the six months ended June 30, Hawkeye Holdings reported net income of $1.5 million, swinging from a loss of $3.1 million in the 2005 comparable period. The company also said revenue for the latest six-month period jumped to $94.6 million, compared with $33.4 million in the 2005 six-month period.
The company said it intends to list its common stock on the New York Stock Exchange under the symbol HWY.
ADM expanding ethanol capacity
2006-05-10 11:16 (New York)
DECATUR, Ill., May 10 (UPI) -- Agricultural processing giant Archer Daniels
Midland Co. will build an ethanol plant in Cedar Rapids, Iowa.
ADM's dry corn milling plant will have an initial annual capacity of 275
million gallons adjacent to an existing corn processing plant, ADM said
Wednesday. Construction on the Cedar Rapids expansion is expected to be
complete in the second half of 2008.
This 275-million-gallon expansion follows the previously announced 275-million-
gallon expansion in Columbus, Neb.
Bodman Says U.S. Gasoline Supply Problems Have Eased (Update2)
2006-05-09 13:07 (New York)
(Adds discussion of Bush's proposal to lift ethanol tariff
in second and eighth to 14th paragraphs.)
By Jim Efstathiou Jr.
May 9 (Bloomberg) -- U.S. Energy Secretary Samuel Bodman
said the switch from MTBE to ethanol in U.S. gasoline is complete
and the supply disruptions related to the change should be over.
Refiners have phased out MTBE in favor of ethanol because of
changes in fuel rules in George W. Bush's energy bill, which
became law in August. Bodman, speaking in Alexandria, Virginia,
also said that a proposal Bush raised last week to drop a tariff
on ethanol from Brazil is still being studied.
The average U.S. gasoline pump price jumped about 17 percent
last moth, in part because of concern that the switch in fuel
additives would cause shortages. Ethanol is transported by truck,
barge and train to distribution points where it is mixed into
gasoline, while MTBE-blended fuel was shipped from refineries by
pipeline as a finished product.
``To my knowledge, MTBE has been phased out in its entirety,
and we are now operating with total dependence on ethanol,''
Bodman said. Logistical problems related to shipping ethanol have
been addressed, he said. ``To my knowledge, things have settled
down and the transportation system is now working pretty
smoothly.''
MTBE, or methyl tertiary butyl ether, that leaked from
underground storage tanks fouled drinking water and spawned
lawsuits against refiners and chemical makers. Refiners were
trying to complete the phase-out of MTBE by last week.
Running Dry
The changeover led to gasoline supply disruptions at dozens
of filling stations in Texas and in eastern states from Virginia
to New Jersey last month. The disruptions came partly because
tanker trucks that normally deliver gasoline to filling stations
were used to haul ethanol to regional terminals, according to
Valero Energy Corp., the biggest U.S. refiner.
Bodman said he had not heard recently of any shortages
affecting filling stations. ``They seem to be doing better.''
Bush on May 5 said dropping the 54-cent-a-gallon tariff on
ethanol imports might be appropriate to make more ethanol
available for the U.S. market. Senate Finance Committee Chairman
Charles Grassley, a Republican from Iowa, said dropping the
tariff won't lower gasoline prices because Brazil does not have
enough ethanol to export ``at significant levels.''
The energy department is evaluating ``what the impacts would
be on ethanol supplies,'' Bodman said. ``Would it aid near term?
Would it aid longer term?''
Ethanol Tariff
The U.S. imported about 130,000 gallons of ethanol in 2005,
which is less than half the amount that is allowed duty free
under existing rules, said Matt Hartwig, a spokesman for the
Renewable Fuels Association. Refiners used about 4 billion
gallons of ethanol last year.
``As a general matter, the President has expressed interest
in it and is prepared to work with Congress on it,'' Bodman said.
The tariff has produced ``significant benefits in terms of
generating good financial returns in the ethanol industry. That's
why we're seeing so many plants being built, so that's part of
what we are in the process of working on.''
Senator Dianne Feinstein, a California Democrat, and
Senators Jon Kyl of Arizona and John Sununu of New Hampshire,
both Republicans, introduced legislation yesterday that would
strike the ethanol tariff.
``We ought to leave the tariffs in place,'' Senator Ken
Salazar, a member of the Senate Energy & Natural Resources
Committee, said today in an interview in Washington.
``We need to give our infant industries a greater chance to
grow,'' said Salazar, a Colorado Democrat. Colorado now has about
a half-dozen ethanol plants operating or under construction,
Salazar said, up from a single plant a year ago.
N.Y. Governor Announces New Ethanol Plant By CAROLYN THOMPSON, Associated Press Writer
Tue May 9, 4:14 AM ET
SHELBY, N.Y. - Construction of New York's first dry mill ethanol plant is scheduled to begin this summer, with the state contributing nearly $6 million as part of a strategy to reduce dependence on foreign energy, Gov. George Pataki said.
ADVERTISEMENT
Western New York Energy's $87.4 million Orleans County facility is expected to produce about 50 million gallons of the fuel each year.
The clean-burning, corn-based product is combined with gasoline to produce a blended, higher octane fuel. The plant will buy an estimated 20 million bushels of corn each year, 6 million from western New York, opening a new market for the state's farms. It will employ 58 people.
The facility "will help us take advantage of this opportunity to reduce our dependence on unstable foreign energy supplies," Pataki said Monday near the 144-acre site of the future plant in Shelby, a town of about 5,400.
Pataki, the first northeast governor to join the Governors Ethanol Coalition, also announced a $20 million program to develop more efficient ethanol technology, known as cellulosic ethanol.
"Ethanol from corn is relatively inefficient. You might have to put a unit of energy in to get two units of energy out — 1.67 out," Pataki said. "But the next generation of technology, instead of just using the sugar in the corn, is going to be able to use the cellulose from the corn, from the corn stalk, from grasses, from trees, from lumber mills. And there the efficiency is as high as 20-to-1."
The facility also will produce two byproducts that will be marketed for sale: carbon dioxide, used for beverage carbonation and freeze drying, and distiller's dried grains, a high-protein livestock feed.
"It's an exciting day for those of us who produce the corn or are in the dairy industry and can take advantage of the .... grain," said New York Farm Bureau President John Lincoln.
The western New York plant, using a process that grinds the entire corn kernel into flour and converts the starch into ethanol via fermentation, is expected to begin production in January 2008.
The average price of unleaded gasoline in New York was $3.12 per gallon Monday, with the national average at $2.90, according to the motorists' club AAA.
The Shelby plant "is a great thing. Ethanol is not going to solve our gas problems, but every little bit helps when the price is so high," said Sen. Charles Schumer (news, bio, voting record), D-N.Y.
___
Nymex Gasoline Drops After Bush Suggests Reduced Ethanol Tariff
2006-05-08 15:45 (New York)
By Robert Tuttle
May 8 (Bloomberg) -- Gasoline futures fell for the first in
four days after U.S. President George W. Bush said he wants the
tariff on ethanol imported from Brazil dropped.
Eliminating the 54-cent-a-gallon tariff would boost ethanol
imports, increasing supplies, Bush said in a May 5 interview on
CNBC. Over the past several weeks, refiners have been phasing in
ethanol as the primary additive in reformulated gasoline. U.S.
ethanol production may not be sufficient to meet demand this
summer, the U.S. Energy Department has said.
Initially, the market ``will fall and then people will think
through how much supply it is going to add,'' said Andy Lipow,
president of Houston consulting company Lipow Oil Associates LLC.
Gasoline for June delivery fell 3.7 cents, or 1.8 percent,
to $2.0036 a gallon on the New York Mercantile Exchange. Earlier
in the session, prices fell to $1.965, the lowest since April 8.
Reformulated gasoline normally contains about 10 percent
ethanol. Imports currently account for as much as 10 percent of
ethanol consumed in the U.S., Lipow said. The wholesale price of
ethanol has risen 52 percent this year and was $2.7937 a gallon
on May 5, according to Bloomberg data.
Gasoline futures were also pushed lower by oil, which
accounted for 55 percent the retail price of gasoline in March,
according to the Energy Department. June oil futures in New York
fell 42 cents to $69.77 after Iran said it wants to ease tensions
with the U.S. over its nuclear program.
``There is speculation maybe the Iranian thing isn't quite
as bad as everyone perceived it was,'' said Bill Boeschenstein, a
broker at Dynoil Energy Inc in Cape Elizabeth, Maine. The
standoff with Iran ``has been one of the factors that's been
holding this whole market up for the last couple of weeks or
so.''
Inventory Increase
Gasoline futures have fallen about 8 percent since a
government report was released on May 3 that showed the first
rise in inventories in nine weeks. Inventories probably rose
again last week, according to a Bloomberg News survey of nine
analysts.
The Energy Department is scheduled to release its report on
last week's inventories at 10:30 a.m. in Washington on May 10.
The average U.S. pump price for regular gasoline fell to
$2.902 a gallon yesterday from $2.907 the day before, according
to the Web site of AAA, the nation's largest motoring club. Pump
prices were up 10 percent from a month ago.
June gasoline futures covering reformulated fuel to be
blended for use with ethanol, known as RBOB, fell 1.87 cents, or
0.8 percent, to $2.2486 a gallon in New York.
Heating oil futures for June delivery fell 0.16 cent to
$1.9545 a gallon in New York. Prices are 37 percent higher than a
year ago.
60 MINUTES LAST NIGHT, AT LEAST A HALF HOUR ON CNBC TODAY GREAT PUBLICITY FOR THE SECTOR.
wish i was that smart
NUCLEAR SOLUTIONS INC: CRESTVIEW CAPITAL PARTNERS FILES TO SELL
2006-04-26 22:19 (New York)
FORM 144 FILED AT THE SECURITIES AND EXCHANGE COMMISSION ON 04/24/06
APPROXIMATE DATE OF SALE: 04/17/06
CRESTVIEW CAPITAL PARTNERS, SHAREHOLDER,
OF 95 REVERE DR, NORTHBROOK, IL 60062,
HAS FILED TO SELL 200,000 SHARES OF NUCLEAR SOLUTIONS INC [NSOL]
THROUGH FIDELITY BROKERAGE SERVICES. ISSUER PHONE 202-787-1951
the ande train keeps rolling...up another 4 and change today and they claim they will have a plant up and running by the end of this year...
that peix has doubled in 2 months..ande has done a 3 bagger in the last 4months, and we havent heard a thing since a town hall meeting. These 2 have no news and they continue to scream north. getting antsy over here..
Fuel Waivers May Not Be Needed as Ethanol to Rise, Caruso Says
2006-05-02 13:43 (New York)
By Jim Kennett
May 2 (Bloomberg) -- U.S. states may not require waivers on
gasoline additives as supplies of ethanol are shifted from the
Midwest to other markets, the head of the Energy Information
Administration said.
A tight market for ethanol, which is replacing the use of
methyl tertiary butyl ether in gasoline, should ease as supplies
in the Midwest are moved to markets such as Houston, said Guy
Caruso, administrator of the statistical arm of the U.S. Energy
Department. Other sources of supplies should include new
production and an increase in imports, he said.
``We think the industry is going to make up what we think is
130,000 barrels of MTBE'' being phased out, Caruso told reporters
today at the Offshore Technology Conference in Houston. ``We're a
little optimistic that we may be over the hump, and may not
require waivers.''
Gasoline prices have soared and some service stations have
run out of fuel as ethanol supplies fail to meet demand before a
deadline to phase out MTBE. Pennsylvania, Maryland, Virginia and
Wisconsin asked for fuel waivers from the U.S. Environmental
Protection Agency amid some shortages at service stations in the
East and Texas.
crowd continues to grow, havent heard about these 2 new entries.
Proposed Ethanol Plant to be Largest in Southeast
2006-05-01 12:00 (New York)
JACKSON, Miss. and ST. LOUIS, May 1 /PRNewswire-FirstCall/ -- A
Mississippi-based energy company and one of the nation's leading agribusiness
firms are teaming up to build the largest ethanol plant in the southeastern
United States.
Ergon Ethanol, Inc. and Bunge North America, Inc. announced the signing of
a letter of intent to form a joint venture to build an ethanol plant with an
annual capacity of at least 60 million gallons in the State of Mississippi.
The state-of-the-art facility will provide a key link between Bunge's grain
handling facilities in Mississippi and Louisiana, and Ergon's petroleum
refining assets.
Producing this renewable, clean-burning fuel will require at least
21-million bushels of corn each year, creating new markets for regional corn
growers. This facility will also generate corn-based co-products which are
excellent feed ingredients for area poultry and livestock producers.
"This proposed joint venture leverages the strengths of both Ergon and
Bunge," said Don Davis, executive vice president of Ergon. "With fifty years
of experience in petroleum refining and marketing fuel, Ergon has the
expertise to operate a highly efficient ethanol refinery as well as to market
the ethanol produced by the facility. Ergon has been evaluating renewable
energy sources for several years and expects that this project will benefit
all of Mississippi -- its drivers and its farmers."
"Bunge is a leading grain originator in North America with a strong
domestic network of elevators on the Mississippi River and its tributaries,"
said Tim Gallagher, senior vice president of Bunge North America. "Our
relationships with farmers and our experience in grain origination and
merchandising will ensure that the new venture has a ready supply of corn.
Ethanol production will also bring new feed ingredient opportunities for our
poultry customers."
About Ergon Ethanol
Ergon Ethanol, Inc. is a wholly owned subsidiary of Ergon, Inc
(www.ergon.com) with headquarters in Jackson, Mississippi. Ergon, Inc.,
privately held, operates under six primary business segments: Refining &
Marketing, Asphalt & Emulsions, Transportation & Terminaling, Oil and Gas,
Embedded Computing and Real Estate. Ergon owns and operates three petroleum
refineries located in Mississippi, Arkansas and West Virginia, producing
gasoline, low sulfur diesel, lubricant and process base oils, asphalts and
other specialty products.
About Bunge North America
Bunge North America (www.bungenorthamerica.com), the North American
operating arm of Bunge Limited (NYSE: BG), is a vertically integrated food and
feed ingredient company, supplying raw and processed agricultural commodities
and specialized food ingredients to a wide range of customers in the
livestock, poultry, food processor, foodservice and bakery industries. With
headquarters in St. Louis, Missouri, Bunge North America and its subsidiaries
operate grain elevators, oilseed processing plants, edible oil refineries and
packaging facilities, and corn dry mills in the U.S., Canada and Mexico.
more money for the sector....
May 1, 2006
For Immediate Release
IOGEN GETS BOOST FROM GOLDMAN SACHS
Wall Street firm invests $30 million in cellulose ethanol leader
Ottawa – Iogen Corporation announced today that Goldman Sachs & Co. of New York has invested $30 Million (CDN) in its renewable cellulose ethanol technology.
“Goldman is the first major Wall Street firm to make a commitment to cellulose ethanol,” says Iogen CEO Brian Foody. “Renewable fuels like cellulose ethanol are one of the main options President Bush recently highlighted to reduce America’s dependence on foreign oil.
Goldman’s investment gives it a minority stake in Iogen, the only company to be operating a demonstration facility that converts agriculture materials like straw, corn stalks, and switchgrass to ethanol. Goldman joins the Royal Dutch/Shell Group as a major investor. The funds will be used to accelerate Iogen’s commercialization program.
Cellulose ethanol will allow a much greater expansion of U.S. domestic alternative fuel supply because there is a substantial untapped existing biomass resource.
A joint study by the U.S. Departments of Agriculture and Energy (USDA and DOE) has concluded that the land resources of the US could produce a sustainable supply of biomass sufficient to displace 30% (60 billion gallons of renewable fuel per year) of the country’s present gasoline consumption.
Cellulose ethanol is a fully renewable, advanced biofuel that can be used in today's cars. It is one of the most cost effective ways to reduce gasoline consumption and greenhouse gas emissions from automobiles.
About Iogen Corporation:
Iogen is a leading biotechnology firm specializing in cellulose ethanol – a fully renewable transportation fuel made from agricultural residue that can be used in today's cars. The Company also develops, manufactures and markets enzymes used to modify and improve the processing of natural fibres within the textile, animal feed, and pulp and paper industries. In operation since 1974, Iogen is a privately held company located in Ottawa, Canada. For more information, visit www.iogen.ca
About Goldman Sachs:
Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.
For more information, please contact:
Jeff Passmore, Executive V.P., Iogen Corporation
(613) 733-9830
jeffp@iogen.ca
www.iogen.ca
Michael Duvally,
Goldman Sachs,
(212) 902-2605
michael.duvally@gs.com
WE ALL READ THE NEWSPAPER ARTICLE THE FIRST TIME, MAYBE IF WE COPY AND POST 5 MORE TIMES THE STOCK WILL GO UP???
LEAR SOLUTIONS INC: CRESTVIEW CAPITAL PARTNERS FILES TO SELL
2006-04-26 22:19 (New York)
FORM 144 FILED AT THE SECURITIES AND EXCHANGE COMMISSION ON 04/24/06
APPROXIMATE DATE OF SALE: 04/17/06
CRESTVIEW CAPITAL PARTNERS, SHAREHOLDER,
OF 95 REVERE DR, NORTHBROOK, IL 60062,
HAS FILED TO SELL 200,000 SHARES OF NUCLEAR SOLUTIONS INC [NSOL]
THROUGH FIDELITY BROKERAGE SERVICES. ISSUER PHONE 202-787-1951
----------------------------------------------------------------------
The Washington Service reports Form 144 (Proposed Sale of Securities)
filings released by the S.E.C.
Additional Form 144 filing information is available to qualified
professional investors through our web site (www.washingtonservice.com).
Further information on our services may be obtained by calling
301-913-5100, e-mailing us at info@washingtonservice.com, or by typing {WSA
<GO>}.
the volume today is lower than 4 of the last 5 days what am i missing with the positives about the volume?
today 1792789
t 2267344
m 1758350
f 2625872
t 2454711
w 2705694
Ethanol co. reveals details of its Dover plan
Posted by the Ocean County Observer on 04/26/06
BY LAWRENCE MEEGAN
STAFF WRITER
TOMS RIVER — Representatives of the companies that plan to install a waste tire-to-ethanol manufacturing center met with three Dover Township Council members before last night's council meeting.
Council President Gregory P. McGuckin, Michael Fiure and Maurice Hill formed the subcommittee who met with the representatives.
"This is just an informational meeting," said Jack Young of Fuel Frontiers Inc. of Nevada before meeting with the three councilmen.
Young had said they would discuss the company's background, the safety of the company and the benefits of the product. Fuel Frontiers is a subsidiary of Nuclear Solutions Inc. of Washington, D.C.
"There are no pollutants," Young said, calling it a clean technology. "It's an entirely closed-loop system."
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here is a great PLUG for ethanol from the PRESIDENT...
..
George W. Bush Delivers Remarks On Energy, 9th Add
2006-04-25 10:50 (New York)
XXX for our consumers.
BUSH: I set a goal to replace oil from around the world. The
best way and the fastest way to do so is to expand the use of ethanol.
Advanced Energy Initiative is focused on three promising ways to
reduce gasoline consumption. One is increasing the use of ethanol.
Another is improving hybrid vehicles. And finally, one is developing
hydrogen technology.
All three go hand in hand. All three are an important part of
the strategy to help us diversify away from hydrocarbons.
Ethanol has got the largest potential for immediate growth. Most
people may not know this, but today most of ethanol produced in
America today is from corn. Most vehicles can use 10 percent ethanol
in their automobiles.
What's interesting that Americans don't realize, with a little
bit of expenditure, we can convert a standard automobile to what's
called a flex-fuel automobile. And that flex-fuel vehicle can use
fuel that is 85 percent ethanol.
Amazing, isn't it? Without much cost, your automobile can be
converted to be able to burn fuel with 85 percent ethanol or a product
made from corn grown right here in America.
Ethanol is a versatile fuel. And the benefits are easy to
recognize when you think about it.
One, the use of ethanol in automobiles is good for the
agricultural sector. I'm one of these people who believes when the
agricultural sector is strong, America is strong.
(APPLAUSE)
The way I like to put it would be -- it's a good thing when a
president can sit there and say, "Gosh, we've got a lot of corn. And
that means we're less dependent on foreign sources of oil."
(APPLAUSE)
Years back, they'd say, "Oh, gosh, we've got a lot of corn and
worried about the price."
MORE
they are showing ethanol related companies stock price right to the left of the presidents head during speech...we need nsol up there...they showed peix, ande and ormat so far.
PRESIDENT BUSH PRAISING THE FUTURE OF ETHANOL. GOOD FOR OUR ENVIRONMENT AS WELL AS OUR FUTURE ACCORDING TO GEORGE BUSH
good to know what the competition is up to, they are claiming they will have a plant up and running in the 4th qtr? Believe it when i see it. Also nice to see the free cash flow in the most recent quarter for nsol reached a 2 year high without the bond money.
NSOL US: Free Cash Flow Turns Negative for Nuclear Solutions
2006-04-21 21:40 (New York)
NUCLEAR SOLUTIONS INC ("NSOL-L")
- Free Cash Flow Turns Negative for Nuclear Solutions' Twelve Months
CashFlowNews.com reports that Free Cash Flow for Nuclear Solutions Inc
(OTC:NSOL) for its twelve months ended December 31, 2005 was a negative
$(100,899), compared with a positive Free Cash Flow of $24,069 for the
comparable year earlier twelve months.
For Nuclear Solutions' quarter ended
December 31, 2005 Free Cash Flow was $(59,641), compared with $(236,404), a 75%
improvement over the comparable year earlier quarter. Free Cash Flow for the
most recent quarter also reached a two year high.
The shares of Nuclear
Solutions were recently trading at $1.30.
Free Cash Flow defined by
CashFlowNews.com:
Free cash flow is defined as cash flow from operations or
operating cash flow plus or minus capital expenditures. "Capital Expenditures"
is a line item, which can be found in the Cash Flow From Investments section of
a company's Cash Flow Statement which is filed quarterly with the
SEC.
CashFlowNews.com is the primary "cash flow" news source for over 10,000
public companies, monitoring and reporting on EBITDA, Cash Flow from Operations
(CFFO) and Free Cash Flow (FCF).
CashFlowNews also features cash flow related
stories from other sources such as financial magazines, news letters and rating
services, etc. For more information on how to subscribe to CashFlowNews.com
e-mail cashflownews@baystreet.com.
Pacific Ethanol, Inc. Announces Changes to the Board of
2006-04-24 08:15 (New York)
Directors and the Resignation of its Chief Operating Officer
FRESNO, Calif., April 24 /PRNewswire-FirstCall/ -- Pacific Ethanol, Inc.
(Nasdaq: PEIX) announced today that concurrent with the closing of its
offering of preferred stock to Cascade Investment, L.L.C. on April 13, 2006,
Charles Bader and Kenneth Friedman resigned from the Board of Directors and
Douglas L. Kieta and Robert P. Thomas were appointed to fill the vacancies
created by these resignations. The Company also announced the resignation of
Ryan Turner as Chief Operating Officer and Secretary effective as of April 19,
2006.
From 1999 to April 2006, Mr. Kieta was employed at Calpine Corporation,
where he was most recently Senior Vice President of Construction and
Engineering. Calpine is a major North American power company providing
electricity to customers and communities in 21 states and three Canadian
provinces. Mr. Kieta has more than 38 years of profit center and project
operations experience in the domestic and international power industries.
Prior to joining Calpine, he served as President and CEO of Century
Contractors West, Inc. During his time there, the company constructed more
than 3,500 megawatts of new power generation projects. Mr. Kieta holds a
bachelor's degree in civil engineering from Clarkson University and a master's
degree in civil engineering from Cornell University.
Since 1999, Mr. Thomas has held various positions and is now a portfolio
manager with the William H. Gates III investment group which oversees Mr.
Gates' personal investments through Cascade Investment, L. L. C, and the
investment assets of the Bill and Melinda Gates Foundation. Mr. Thomas is a
graduate of Claremont McKenna College.
Mr. Turner resigned from the Company to pursue family business interests
unrelated to the ethanol industry. The Company's Chief Executive Officer, Neil
Koehler, will assume Mr. Turner's duties on an interim basis while a search is
undertaken to fill the Chief Executive Officer position.
Bill Jones, Chairman of the Board of Pacific Ethanol, stated, "Ryan has
provided very valuable effort, dedication and crucial involvement in the early
phases of the Company's development that were instrumental in bringing us to
where we are today. As we transition to intensive construction and operating
phases of our growth, the Board of Directors is initiating a search for a new
Chief Operating Officer with extensive construction and operating experience.
We also wish to thank the outgoing directors, Charles Bader and Kenneth
Friedman, for their outstanding efforts over the past year. We are happy to
add to our Board a wealth of development, operations and financial experience
and expertise in the additions of Doug Kieta and Robert Thomas. Their
perspective, input and advice will be of timely value to our management team
as we rapidly move forward in our plans to develop new plants and begin
ethanol production later in the year."
About Pacific Ethanol, Inc.
The primary goal of Pacific Ethanol, Inc. is to become the leader in the
development, production and marketing of renewable fuels in the Western United
States. Established in 2003, Pacific Ethanol is constructing its first large
scale ethanol production facility in Madera County, California, and is
developing four additional plants on the West Coast. Kinergy Marketing, LLC,
a wholly owned subsidiary of Pacific Ethanol, is the largest West Coast based
marketer of ethanol. In addition, Pacific Ethanol is working to identify and
develop other renewable fuel technologies such as cellulose-based ethanol
production and bio-diesel.
PEIX: Pacific Ethanol: Cascade Investment discloses 25.5% stake
2006-04-24 06:17 (New York)
[Live In Play]
PEIX: Pacific Ethanol: Cascade Investment discloses 25.5% stake; all shares
beneficially owned by William H. Gates III as the sole member of Cascade
(30.12)
From SC 13D filed after the close on Friday (4/21): "On April 13, 2006,
Cascade Investment, L.L.C. acquired 5,250,000 shares of the issuer's Series A
Cumulative Redeemable Convertible Preferred Stock at a price of $16.00 per
share. Each share of Series A Preferred Stock is convertible at any time at
Cascade's option into a number of shares of the issuer's common stock equal to
the quotient of (x) $16.00 divided by (y) the conversion price in effect at
the time of conversion. The conversion price per share of Series A Preferred
Stock is currently $8.00 and is subject to anti-dilution protection and other
adjustments as set forth in the Certificate of Designations, Powers,
Preferences and Rights of the Series A Cumulative Redeemable Convertible
Preferred Stock. Using the current conversion price, Cascade's 5,250,000
shares of Series A Preferred Stock are currently convertible into 10,500,000
shares of the issuer's Common Stock. All shares of Common Stock held by
Cascade may be deemed to be beneficially owned by William H. Gates III as the
sole member of Cascade.
Bodman Says Ethanol Switch Disrupting Gasoline Supply (Update1)
2006-04-21 15:49 (New York)
(Adds closing crude oil price in seventh paragraph.)
By Robert Tuttle and Jim Efstathiou Jr.
April 21 (Bloomberg) -- U.S. Energy Secretary Samuel Bodman
said the switch to ethanol in gasoline may cause supply
disruptions for several months.
At least six filling stations in Philadelphia and the
surrounding region were out of fuel yesterday because of the
switch, according to AAA, the nation's largest motorist
organization. Refiners are seeking to replace the additive MTBE
in gasoline by May because of changes in fuel requirements in the
energy bill that President George W. Bush signed in August.
``We're going to see some problems,'' he told reporters
after giving a speech at a conference in Washington. ``I do
believe over a period of time -- that is, a matter of months --
it will level out.''
Bodman said the country's supply of ethanol is adequate
overall. The logistics of shipping the additive by barge, rail
and truck may cause regional disruptions, he said. Rules that
lower the acceptable level of sulfur in diesel fuel and refinery
maintenance delayed by last year's hurricanes are also boosting
supply concerns, he said.
The U.S. average gasoline pump price is climbing toward $3 a
gallon, a level last seen in September after Hurricane Katrina,
partly because of concern about supply problems related to the
switch to ethanol.
The average U.S. pump price for regular gasoline has risen
14 percent this month to $2.855 a gallon as of yesterday, up from
$2.218 a year ago, according to AAA's Web site.
Record crude oil is also pushing pump prices toward their
all-time high. Crude oil for June delivery rose $1.48 to $75.17 a
barrel today on the New York Mercantile Exchange. Today was the
first time crude topped $75, and the fourth straight day setting
a record.
Scattered Problems
An analyst at the Energy Department and an industry
representatives today said the concern about the ethanol switch
is overdone.
``The problems are scattered, they are transitional, and
they will probably run their course over the next two weeks,''
said Mike Burdette, a senior analyst at the Energy Department's
Energy Information Administration in Washington. ``There are no
widespread outages.''
The filling stations that ran out were around Philadelphia
and Wilmington, Delaware, AAA spokesman Geoff Sundstrom said.
Service stations and fuel terminals can't move to ethanol-based
fuel until they empty and clean their tanks, a process that can
take as long as two days, he said.
``This is related to the conversion from MTBE to ethanol,''
said Jeff Lenard, spokesman for the National Association of
Convenience Stores, a trade organization representing more than
2,200 retail outlets. ``It is not necessarily the same thing as
supply outages.''
Replacing MTBE
As many as 60 Dallas-area service stations ran out of
gasoline in early April because tanker trucks that would normally
be available to re-supply them were used to haul ethanol,
according to Valero Energy Corp. spokeswoman Mary Rose Brown.
Most refineries will have phased out the gasoline additive
MTBE, or methyl tertiary butyl ether, by May and replaced it with
ethanol in reformulated gasoline. Refiners are wary of
liabilities for MTBE that leaks from underground storage tanks
and contaminates drinking water.
Unlike MTBE, which can be mixed with gasoline at the
refinery, ethanol must be shipped separately by rail, truck or
barge and blended with gasoline at local terminals.
Energy Bill
The U.S. Energy Department in February predicted tight
supplies and ``volatile'' prices in the East Coast and Texas
because of the switch to ethanol.
The switch came after last year's energy bill removed the
requirement that gasoline contain oxygenates, which aid
combustion and reduce pollution. Some refineries said the
oxygenate requirement shielded them from liability suits. That
provision of the energy bill takes effect May 6.
The move toward ethanol also comes at the time of year when
the gasoline market switches to summer-grades of fuel from winter
blends.
Lee Raymond, former chairman of Exxon Mobil Corp., the
world's largest oil company, said government regulations
regarding the composition of gasoline were partly to blame for
high prices.
The government was told that if the move away from MTBE came
during the switch to summer grades of gasoline, ``with the
limited capacity that every service station has, we are going to
end up having an apparent shortage of gasoline,'' Raymond said
at an energy forum at Columbia University in New York on April
19. ``And it's exactly what's happened.''
--With reporting by Matthew Leising in New York and Jim
Efstathiou in Washington. Editor: Banker (rsd).
Story illustration: For a chart showing gasoline futures prices,
see {HU1 <Cmdty> GP <GO>}. For news related to refining
disruptions, see {NI REFOUT BN <GO>}. For the DOE's weekly data
on U.S. pump prices, see {USRFRUSA <Index> GP <GO>}.
To contact the reporter on this story:
Robert Tuttle in New York at (1) (212) 617-3465 or
rtuttle@bloomberg.net;
Jim Efstathiou Jr. in Washington at (1) (202) 654 1224 or
jefstathiou@bloomberg.net.
To contact the editor responsible for this story:
Robert Dieterich at (1) (212) 617-4485 or
U.S. Ethanol Prices Rise as Peak Gasoline-Demand Season Nears
2006-04-21 12:35 (New York)
By Bruce Blythe
April 21 (Bloomberg) -- U.S. ethanol prices rose this week,
extending a rally since the end of March, as refiners and fuel
blenders prepared for increased gasoline demand in the summer.
Demand is up because the grain-based fuel is being phased in
as a component in reformulated gasoline sold in large U.S.
cities, while a rival additive, known as MTBE, or methyl tertiary
butyl ether, or MTBE, is being phased out by May.
There's concern over whether the East Coast will have
sufficient ethanol supplies by summer, said Sal Gilbertie, an
energy trader for Fimat USA in New York. At least six service
stations in the U.S. mid-Atlantic region were out of fuel
yesterday because of the shift to ethanol-blended gasoline,
according to the AAA, the nation's largest travel group.
``We're in buildup toward gasoline peak usage season, so
even people that seem to have a surplus of ethanol are still
withholding it in case they need it,'' Gilbertie said, referring
to refiners and blenders. ``The supply isn't exactly where people
need it.''
U.S. ethanol prices averaged $2.5348 a gallon today, up 3.8
percent from $2.4421 at the end of last week, according to
Bloomberg data. The average was up 6.4 percent from $2.3826 at
the end of March and more than double $1.2157 a year ago.
Corn-based ethanol is mostly produced in the Midwest and
shipped to the East Coast by barge or rail car. It can't be
shipped on petroleum pipelines because it binds with water, which
ruins gasoline. Instead, refiners and wholesalers mix the ethanol
with gasoline at terminals where the blended fuel is loaded onto
trucks bound for retail outlets.
``There's a lack of readily available transport to get the
ethanol from where it's produced to where it's actually needed,''
Gilbertie said. ``There's clearly a domestic transportation
disconnect.''
Philadelphia, Wilmington
The filling stations that ran dry yesterday were located in
the Philadelphia and Wilmington, Delaware, regions, AAA spokesman
Geoff Sundstrom said. Service stations and fuel terminals can't
move to ethanol-based fuel until they empty and clean their
tanks, a process that can take as long as two days, he said.
Ethanol can make gasoline burn more efficiently and is being
used to replace MTBE, which has been known to leak from
underground fuel tanks and contaminate water supplies. Ethanol
consumption is also being pushed by President George W. Bush, who
in August signed an energy bill requiring oil companies to put
7.5 billion gallons of ethanol into gasoline annually by 2012, up
from about 4 billion gallons in 2005.
U.S. refiners used ethanol in about 40 percent of the
gasoline produced the first week in April, up from 33 percent in
the same period last year, according to a report from the
American Petroleum Institute released earlier this week.
(
Ethanol Switch Causes Some Gasoline Pumps to Run Dry (Update2)
2006-04-21 12:04 (New York)
(Adds Energy Department analyst in third paragraph.)
By Robert Tuttle
April 21 (Bloomberg) -- At least six service stations in
the U.S. mid-Atlantic region were out of fuel yesterday because
of a region-wide changeover to ethanol-blended gasoline,
according to the AAA, the nation's largest motoring club.
The switchover is part of a nationwide phase-out by May of
the additive MTBE, or methyl tertiary butyl ether, in
reformulated gasoline.
``The problems are scattered, they are transitional and
they will probably run their course over the next two weeks,''
said Mike Burdette, a senior analyst at the U.S. Energy
Department's Energy Information Administration. ``There are no
widespread outages'' of ethanol-blend gasoline or ethanol, he
said.
The filling stations were located in the Philadelphia and
Wilmington, Delaware, regions, AAA spokesman Geoff Sundstrom
said. Service stations and fuel terminals can't move to ethanol-
based fuel until they empty and clean their tanks, a process
that can take as long as two days, he said.
``This is related to the conversion from MTBE to ethanol,''
said Jeff Lenard, spokesman for the National Association of
Convenience Stores, a trade organization representing more than
2,200 retail outlets. ``It is not necessarily the same thing as
supply outages.''
Dallas Service Stations
As many as 60 Dallas-area service stations ran out of
gasoline in early April because tanker trucks that would
normally be available to re-supply them were used to haul
ethanol, according to Valero Energy Corp. spokeswoman Mary Rose
Brown.
The rising price of crude oil and concern about the switch
to ethanol pushed gasoline futures to $2.2394 on the New York
Mercantile Exchange on April 19, the highest closing price in
more than six months.
The average U.S. pump price for regular gasoline has risen
14 percent this month to $2.855 a gallon as of yesterday, up
from $2.218 a year ago, according to AAA's Web site.
Most refineries will have phased out the gasoline additive
MTBE, or methyl tertiary butyl ether, by May and replaced it
with ethanol in reformulated gasoline. Unlike MTBE, which can be
mixed with gasoline at the refinery, ethanol must be shipped
separately by rail, truck or barge and blended with gasoline at
local terminals.
The U.S. Energy Department in February predicted tight
supplies and ``volatile'' prices in the East Coast and Texas
because of the switch to ethanol.
Energy Bill
The switch to ethanol from MTBE came after last year's
energy bill removed the requirement that gasoline contain
oxygenates, which aid combustion and reduce pollution. Some
refineries said the oxygenate requirement shielded them from
liability suits related to groundwater contamination caused by
MTBE. That provision of the energy bill takes effect May 6.
The move toward ethanol also comes at the time of year when
the gasoline market switches to summer-grades of fuel from
winter blends.
Lee Raymond, former chairman of Exxon Mobil Corp., the
world's largest oil company, said government regulations
regarding the composition of gasoline were partly to blame for
high prices.
The government was told that if the move away from MTBE
came during the switch to summer grades of gasoline, ``with the
limited capacity that every service station has, we are going to
end up having an apparent shortage of gasoline,'' Raymond said
at an energy forum at Columbia University in New York on April
19. ``And it's exactly what's happened.''
--With reporting by Matthew Leising in New York. Editor: Banker.
Story illustration: For a chart showing gasoline futures prices,
see {HU1 <Cmdty> GP <GO>}. For news related to gasoline, see {NI
GASOLINE <GO>}. For news related to refining disruptions, see
{NI REFOUT BN <GO>}.
144 HISTORY:LONG LANE CAPITAL INC (SH) FILES TO SELL NUCLEAR SO
2006-04-20 22:17 (New York)
-------------------------------------------------------------------------------
FILER REL FILED SHARES BROKER ISSUER PHONE
------------------------- --- -------- ----------- -------------- -------------
NUCLEAR SOLUTIONS INC - [NSOL]
*LONG LANE CAPITAL INC SH 04/19/06 49,054 PENNALUNA & CO 202-787-1951
*LONG LANE CAPITAL INC SH 04/19/06 258,000 PENNALUNA & CO 202-787-1951
(b) = Pursuant to Rule 10(b)5-1 (a) = Amended Filing
(*) = Most Recent Filing Copyright 2006 The Washington Service
TO RETRIEVE AN UPDATED INSIDER HISTORY ON ANY STOCK,
TYPE TICKER <EQUITY> CN WSA <GO> FOR ANY AVAILABLE NEWS ITEMS
FOR MORE INSIDER TRADING INFORMATION, TYPE WSA <GO> <PAGE FWD>
THE WASHINGTON SERVICE (301) 913-5100
Toyota Adding Ethanol-Fueled Cars in U.S. by 2008 (Update1)
2006-04-19 00:14 (New York)
(Adds details on Toyota's spending in fifth paragraph.)
By Alan Ohnsman and Kae Inoue
April 19 (Bloomberg) -- Toyota Motor Corp. plans to offer a
U.S. vehicle by 2008 that can run on a mix of ethanol and
gasoline, amid growing interest in so-called bio-fuels, the
Financial Times reported, citing an unnamed company executive.
Toyota, the largest seller of autos powered by a
combination of gasoline and electricity, wants to offer models
that can run on E85, a fuel that's 85 percent ethanol and 15
percent gasoline, to move into a segment currently dominated by
General Motors Corp. and Ford Motor Co., the report said.
Toyota wants to introduce a broader range of alternative
fuel vehicles than only hybrids, the report said. ``We will not
be outflanked,'' the newspaper said, citing the unnamed official.
Cindy Knight, a spokeswoman for Toyota's U.S. sales unit in
Torrance, California, told Bloomberg the company has studied
offering ethanol models. She couldn't confirm when or whether
such vehicles would be sold in the U.S.
Toyota President Katsuaki Watanabe spent a record 800
billion yen ($6.8 billion), up 5.9 percent, on research in the
year ended March 31. The automaker is developing technologies
for a range of alternative fuels, including ethanol, natural gas
and hydrogen. It ``wants to be ready when the market is ready,''
Watanabe said on March 16.
Toyota already sells vehicles that can run on ethanol in
Brazil, and converting a U.S. model to use the fuel isn't a
technical challenge, Knight said in an interview.
GM and Ford are also expanding the number of vehicles they
sell in the U.S. capable of running on E85. GM estimates there
are currently 4 million vehicles in the U.S. that can run on the
ethanol-based fuel.
Toyota shares, which have gained 73 percent in the payota Adding Ethanol-Fueled Cars in U.S. by 2008 (Update1)
2006-04-19 00:14 (New York)
(Adds details on Toyota's spending in fifth paragraph.)
By Alan Ohnsman and Kae Inoue
April 19 (Bloomberg) -- Toyota Motor Corp. plans to offer a
U.S. vehicle by 2008 that can run on a mix of ethanol and
gasoline, amid growing interest in so-called bio-fuels, the
Financial Times reported, citing an unnamed company executive.
Toyota, the largest seller of autos powered by a
combination of gasoline and electricity, wants to offer models
that can run on E85, a fuel that's 85 percent ethanol and 15
percent gasoline, to move into a segment currently dominated by
General Motors Corp. and Ford Motor Co., the report said.
Toyota wants to introduce a broader range of alternative
fuel vehicles than only hybrids, the report said. ``We will not
be outflanked,'' the newspaper said, citing the unnamed official.
Cindy Knight, a spokeswoman for Toyota's U.S. sales unit in
Torrance, California, told Bloomberg the company has studied
offering ethanol models. She couldn't confirm when or whether
such vehicles would be sold in the U.S.
Toyota President Katsuaki Watanabe spent a record 800
billion yen ($6.8 billion), up 5.9 percent, on research in the
year ended March 31. The automaker is developing technologies
for a range of alternative fuels, including ethanol, natural gas
and hydrogen. It ``wants to be ready when the market is ready,''
Watanabe said on March 16.
Toyota already sells vehicles that can run on ethanol in
Brazil, and converting a U.S. model to use the fuel isn't a
technical challenge, Knight said in an interview.
GM and Ford are also expanding the number of vehicles they
sell in the U.S. capable of running on E85. GM estimates there
are currently 4 million vehicles in the U.S. that can run on the
ethanol-based fuel.
Toyota shares, which have gained 73 percent in the past 12
months, rose as much as 0.8 percent to 6,730 yen in Tokyo.
Meijer to offer E85 fuel in Detroit
Louisville stores not part of push
By Robert Schoenberger
rschoenberger@courier-journal.com
The Courier-Journal
Midwestern retailer Meijer said it will start selling E85 ethanol at 20 stores near Detroit over the next several months. The company has no plans to sell the motor fuel at its six Louisville-area stores.
"It's been talked about, but we haven't gotten there yet," Meijer spokeswoman Judith Clark said. Meijer has four stores in Louisville and two in Southern Indiana.
E85 is 85 percent ethanol, an alcohol usually derived from corn, and 15 percent gasoline. It provides slightly more horsepower than gasoline with slightly lower fuel economy. The price is usually close to gasoline prices.
"With gas prices going up, we thought that E85 might not rise as quickly," Clark said.
In Michigan, Meijer is working with CleanFUEL USA, a Texas ethanol company to identify the locations.
General Motors is also working with the retailer to promote the fuel's use and to choose stations.
Clark said no Meijer stores in Louisville have pushed for the fuel, and no ethanol companies have offered to supply area outlets. If either of those conditions changes, she said Meijer could add E85 pumps.
Cecil's Service Center on Eighth Street in downtown is Louisville's only E85 station, according to www.e85fuel.com, an ethanol producers' Web site. Minnesota and Illinois are the only states with large numbers of ethanol stations.
The Web site also lists vehicles that can use E85. Ethanol is more corrosive than gasoline and can damage rubber engine seals and gaskets on vehicles.
Reporter Robert Schoenberger can be reached at (502) 582-4669.
MORE ETHANOL NEWS
Refiners Raise Output of Gasoline Blends With Ethanol, API Says
2006-04-19 10:00 (New York)
By Mark Shenk
April 19 (Bloomberg) -- U.S. refineries increased production
of gasoline blended with ethanol as they prepare for a new
government mandate, the American Petroleum Institute said.
Refiners used ethanol in about 40 percent of the gasoline
produced the first week in April, up from 33 percent in the same
period last year, a monthly report from the industry-funded group
showed. Ethanol blends accounted for 67 percent of the cleaner-
burning reformulated gasoline produced during the week, up from
57 percent a year earlier.
``Last year already a third of the gasoline we produced had
ethanol because of the switch over in New York and California,''
said Ron Planting, an analyst with the Washington-based
institute, who wrote the report. ``This year the replacement of
the oxygen mandate with the renewable fuels mandate is driving
the increase in output.''
California and New York began using ethanol in gasoline in
2004 after banning a rival additive MTBE because it contaminated
groundwater. Corn-based ethanol and methyl tertiary butyl ether,
or MTBE, make fuel burn more completely. An energy policy bill
signed into law last year eliminates a requirement that oil
companies meet a 2 percent oxygenate requirement in gasoline.
The legislation also calls on refiners to use 7.5 billion
gallons of the replacement additive ethanol by 2012.
Surging pump prices are crimping fuel consumption, according
to the report. Deliveries of gasoline, a measure of demand,
averaged 8.9 million barrels a day last month, down 0.6 percent
from March 2005, the report showed. Demand so far this year is up
0.5 percent from the same period in 2005.
Managing Travel
``Consumers are deciding to manage their travel more
efficiently because of the increased cost,'' Planting said.
Implied demand of distillate fuel, a category that includes
heating oil and diesel, averaged 4.1 million barrels in March, a
5.8 percent decline from a year earlier.
High-sulfur distillate fuel averaged 1.2 million barrels a
day last month, down 8.3 percent from March 2005. High-sulfur
distillate is mostly used as heating oil. Diesel demand averaged
2.9 million barrels a day in March, down 4.8 percent from a year
earlier, the report showed. Diesel is low-sulfur distillate fuel.
The U.S. pumped 5.2 million barrels a day of oil during
March, down 6 percent from a year earlier, according to the
institute. All production platforms in the Gulf of Mexico were
shut as companies prepared for Hurricane Rita. The storm made
landfall on Sept. 24. In September the U.S. pumped 3.95 million
barrels a day, the lowest monthly production rate since 1943.
``We are still missing production in the Gulf,'' Planting
said. ``Improvement has stalled for two months.''
Alaska output of 771,000 barrels a day was down 20 percent
from March 2005. It was only the third time since North Slope
production ramped up in 1977 that production had dipped below
800,000 barrels a day.
U.S. ethanol use rising
2006-04-19 10:01 (New York)
WASHINGTON, April 19 (UPI) -- U.S. refiners have boosted their use of ethanol
as a gasoline blend stock in preparation for a federal renewable fuels mandate.
The American Petroleum Institute also said Wednesday that by the first week of
April, some 40 percent of all gasoline produced in the United States was
blended with ethanol, up from 33 percent at the same time last year.
The API also noted that high fuel prices have led to decreased demand for
gasoline and other refined oil products.
Gasoline deliveries, a proxy for demand, averaged 8.946 million barrels per
day, down 0.6 percent from March 2005 levels. Distillate deliveries averaged
nearly 6 percent below year-ago levels while jet fuel deliveries were down 1.2
percent.
NPRA Responds to Comments by the Ethanol Industry on Gasoline
2006-04-18 16:25 (New York)
Prices
WASHINGTON--(BUSINESS WIRE)--April 18, 2006
NPRA, the National Petrochemical & Refiners Association,
today issued the following response to statements made by the ethanol
industry on gasoline prices:
NPRA President Bob Slaughter said: "The unit price of ethanol is
only part of the puzzle when it comes to determining the impact of an
ethanol mandate on gasoline prices. First, because of ethanol's
physical properties, such as volatility, increasing ethanol use
requires making substantial changes in the feedstocks with which the
ethanol is blended. These feedstock changes diminish supply. On the
other side of the ledger, removing MTBE takes away a clean source of
octane and sacrifices significant volume and octane. These factors and
the impact of the new ethanol mandate combine to create a bull market
for ethanol, the price of which in New York Harbor has increased from
the $1.45 range this time last year to $2.00 in December and $2.77
currently.
"Because of this rapid increase in ethanol prices, refiners must
buy high-priced ethanol to include in reformulated gasoline as well as
record-priced crude oil. Other complications with the use of ethanol,
such as the inability to use pipelines, place further stress on
gasoline price and supply. Experts in the field, like the DOE's Energy
Information Administration, have suggested that transition to ethanol
in the near-term will not be of any help to consumers. But as always,
refiners will continue to do their best to meet consumers'
expectations, even under difficult circumstances."
NPRA is a national trade association with more than 450 members,
including most U.S. refiners and petrochemical manufacturers.