Business Briefs

By Staff | September 10, 2012

Renewable Energy Group Inc. announced its financial results for the quarter ending June 30. Revenue for the second quarter was $271.9 million, an increase of 39 percent compared to revenues of $196.3 million for the same period in 2011. Second quarter 2012 adjusted EBITDA was $26.5 million, an increase of 3 percent compared to $25.8 million for the same period in 2011. The balance sheet remained strong with cash of $87.1 million at the close of the quarter, compared to $75.2 million at March 31. REG produced 43 million gallons of biodiesel in the second quarter of 2012, compared to 33 million gallons in the same period in 2011. REG sold 54 million gallons of biodiesel in the second quarter, an increase of 63 percent compared to the same period in 2011, excluding tolled gallons. The year-over-year increase in gallons sold was primarily due to increased production capacity online and an increase in biodiesel demand compared to the same period in 2011.

BP announced that it is offering a BP biodiesel blend to Christchurch, New Zealand, retail customers at BP Connect Hoon Hay. The new product will be trialed for a six-month period with a potential rollout planned for other sites around the country, should it prove popular with customers. BP has partnered with local Christchurch company, Biodiesel New Zealand, to produce the BP biodiesel blend. The product is a blend of normal mineral diesel and up to 5 percent biodiesel, the maximum amount of biodiesel allowed in a blend under current New Zealand legislation. The biodiesel component is sourced from Biodiesel New Zealand and is produced from locally grown canola oilseed and premium used cooking oil. BP Connect Hoon Hay offers both BP biodiesel blend and petroleum diesel throughout the trial, both at the same price.

Ultra Green Energy Services held a ribbon-cutting ceremony and operational demonstration of its new transload facility at Brookhaven Rail Terminal in Long Island, N.Y. The terminal operations will make biodiesel more readily available across Long Island and supply fuel for the New York City Bioheat mandate that goes into effect in October. The company will receive railcar shipments of B100 and says it can store up to 250,000 gallons at the facility. UGES supplies biodiesel through the largest network of wholesale terminals in the metropolitan region. Its principals were among the first to market biodiesel in 1999 and have been blending Bioheat since 2001. The company now operates rail transload facilities and product supply terminals in New York and New Jersey, and has supply positions in Connecticut, Pennsylvania, Massachusetts, New Hampshire, Vermont and Maine.
International Procurement Tools LLC of Reno, Nev., and Incbio of Trofa, Portugal, signed of a memorandum of understanding to form a joint venture to cooperate in the sale, marketing, distribution design and installation of Incbio’s breakthrough ultrasonic cavitation technology worldwide. The new cavitation systems offer much more flexibility in the selection of oil-bearing feedstock from higher FFA greases to complex acceptance of the new algae that are starting to appear. The new facilities’ returns on investment promise to be shorter and production cycles simpler. The new systems are available for installation in any existing biodiesel facility that produces either ASTM or EN quality fuel. Pricing and quotes are available on signing of an NDA/NCA with either IncBio or IPT.

Neste Oil and Stora Enso have decided not to progress with their plans to build a renewable diesel plant, for which the two companies had applied for funding under the EU’s NER 300 program. The European Commission recently published a review on its website of projects that have applied for NER funding, and Neste Oil and Stora Enso’s project is not among those listed as scheduled to receive this funding. Executives say even if they did receive funding, the project would have been shelved. The trials carried out by Neste Oil and Stora Enso at a pilot plant in Varkaus between 2009 and 2011 on the entire chain needed for the planned plant—from wood biomass to biowax suitable for use as a raw material for producing renewable diesel—proved successful.

Aemetis Inc. signed a license agreement with Chevron Lummus Global for the inexpensive, rapid production of renewable jet and diesel fuel by the conversion of existing biofuels and petroleum refineries. The license agreement grants Aemetis Advanced Fuels Inc., a wholly owned subsidiary of Aemetis, the use of the Biofuels Isoconversion Process for the production of 100 percent drop-in renewable jet fuel and diesel in Aemetis biorefineries throughout North America. The process utilizes patented catalytic hydrothermolysis reactor technology, developed by Applied Research Associates, which utilizes water as a catalyst to quickly and inexpensively convert plant oils into stable intermediate oil products that are very similar to petroleum crude oil. The intermediate oils are processed with hydrogen using CLG’s Isoconversion catalysts to produce drop-in jet fuel and diesel. Unlike most other process technologies, the renewable fuels produced by this process are 100 percent replacements for petroleum-based jet and diesel fuel. CLG licenses refining hydroprocessing technologies and catalyst systems worldwide, and is a 50/50 joint venture between Chevron Products Co., a wholly owned subsidiary of Chevron Corp., and Lummus Technology Inc., a CBI Company.

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