Pacific Ethanol reports that they have entered into a “definitive purchase agreement with a group of institutional investors to raise $8.0 million in a private placement transaction.” In addition, the company has signed purchase agreements to acquire an additional 7% interest in the Pacific Ethanol production facilities, according to a company news release. Of the net proceeds from the financing, …
Ethanol Exports Remain Strong
The latest government data on exports for October shows continued strong demand overseas for U.S. ethanol. According to the data, exports of denatured and undenatured ethanol which are not eligible for VEETC totaled 121.4 million gallons. That is just short of the record 127.4 million gallons of exports set in July 2011. On the Renewable Fuels Association E-xchange Blog, RFA’s …
GROWMARK Perspective on Energy Policy
2011 has been a challenging year for getting anything done in Washington DC, including as it relates to both agriculture and energy policy. “In agriculture, when it comes to energy, we want reliable, economically competitive sources,” says GROWMARK government affairs director Chuck Spencer. “As a country, what we are looking for is energy security and that’s going to come from …
Iowa Already Sets E85 All-Time Sales Record
Third quarter sales reports of E85 in Iowa indicate that 2011 sales have already exceeded total sales during 2010, according to the Iowa Renewable Fuels Association. As of September, Iowa retailers sold 9.8 million gallons of E85 during the first nine months of 2011, exceeding the 9.3 million total gallons sold last year. The Iowa Department of Revenue says sales …
US and Brazil Spar Over Ethanol Trade Policy
Brazilian and U.S. ethanol interests are challenging each other over ethanol trade policy. The U.S./Brazil Council and the U.S. Chamber of Commerce wrote a joint letter to Congress last week asking that the U.S. secondary tariff on imported ethanol be allowed to expire as scheduled at the end of the year, together with the Volumetric Ethanol Excise Tax Credit (VEETC). …
New Ethanol Production Record Set
Ethanol production hit an all time high last week, according to the latest figures from the Energy Information Administration. For the week ending December 2, ethanol production averaged 954,000 barrels per day (b/d) – or 40.068 million gallons daily, which is 24,000 barrels more than the previous week and a new record. Getting close to the end of the year …
Petroleum Equipment Group Joins E85 Coalition
The Petroleum Equipment Institute (PEI) has joined the Coalition for E85 – a group of retailers, producers, equipment manufacturers and other supporters of E85 fuel. PEI executive vice president Robert Renkes says the goal of the Coalition is to protect the investments of 2,500 small businesses and stop a multimillion-dollar tax hike on consumers. “Fuel marketers, equipment manufacturers and the …
Iowa Renewable Fuels Partners with Petroleum Marketers
The Iowa Renewable Fuels Association (IRFA) and the Petroleum Marketers and Convenience Stores of Iowa (PMCI) have formed the Renewable Fuels Partnership where representatives of both groups will serve in an advisory capacity to exchange ideas on advancing the availability and use of renewable fuels in Iowa. The goal of the partnership is to bring more renewable fuels to Iowa …
RFA Responds to Letter Sent to Senate Committee
The Renewable Fuels Association (RFA) has sent a letter to the Senate Environment and Public Works Committee leadership refuting statements that were made in a Nov. 30th letter sent to the committee by ethanol critics. According to RFA, the letter sent by ethanol critics misrepresented the findings of two recent papers on American biofuels and American biofuel policy — one …
Butamax Signs First ‘Early Adopter’ Agreement
Butamax Advanced Biofuels has entered into an agreement on commercialization principles with Highwater Ethanol, a leading ethanol producer based in Lamberton, Minn. Butamax, a leading global biobutanol technology development company, is working to offer current ethanal producers proprietary biobutanol technology to permit improved biofuels growth and plant profitability. “We are developing relationships with a group of early adopters. These facilities …