The head of the world’s largest ethanol producing company was keynote speaker at 12th Annual Farm Journal Forum in Washington D.C. today. POET CEO Jeff Broin says his company is considering various options to purchase ethanol plants, although he would not specifically comment on rumors that they might buy the bankrupt VeraSun or any of its assets. “There are a …
Court Rules VeraSun Can Reject Corn Contracts
Corn growers were happy to have their day in U.S. Bankruptcy Court Tuesday for VeraSun Energy Corporation but the outcome was not favorable. As expected, bankruptcy law and the ruling will allow VeraSun to reject any contracts that are economically disadvantageous to VeraSun, including corn growers’ contracts. According to National Corn Growers Association (NCGA) Chairman Ron Litterer of Iowa, they …
Biofuels Part of Policy Summit
The Food and Agriculture Policy Summit, co-hosted by Farm Foundation and Farm Journal Media this week is focusing on the wide range of domestic and global issues facing the food system and agriculture today, including biofuels. The summit kicks off today with the Farm Journal Forum on “What Will Change Bring? Impacts of a New Congress and Administration in the …
Indy Ethanol Fallout
Several different groups are pressuring the Indy Racing League to rethink its decision to partner with Brazil for ethanol to fuel the Indy Car Series. Among them is a conservative, free market group called American Future Fund (AFF) which launched a radio ad which urging Hoosiers and others to call the IRL and tell them to continue using American ethanol …
Cellulosic Ethanol Company Changes Name
There is something new under the sun. Massachusettes-based SunEthanol has changed its name to Qteros, after its Q microbe technology, which may be a key to commercializing cellulosic ethanol. The company has raised $25 million from a diverse group of investors in a Series B round of financing. Among the investors are British Petroleum (BP) and a management group led …
Indy Defends Ethanol Choice
The Brazilian ethanol industry will remain the fuel sponsor of the Indy Racing League in 2009, but the ethanol will come from the United States – at least for the first year. That is a compromise of sorts announced by IRL after meeting with corn ethanol industry representatives. The multi-year partnership between the IndyCar Series and APEX-Brasil — a trade …
Corn Growers Unhappy With VeraSun Contracts
Thousands of corn growers from across the Midwest could potentially have their contracts with ethanol producer VeraSun rejected, including the chairman of the National Corn Growers Association (NCGA). NCGA chairman Ron Litterer of Iowa and others have filed a formal objection with the U.S. Bankruptcy Court in Delaware regarding the proposed disposition of corn contracts by VeraSun Energy Corporation, which …
POET Could Be Interested in VeraSun
The world’s largest ethanol producer could be getting even bigger soon. Speculation is that POET is behind a potential buyout of VeraSun Energy Corporation, which filed Chapter 11 less than a month ago. VeraSun announced this week that it received a “non-binding unsolicited indication of interest with respect to the purchase of substantially all of its assets.” Both POET and …
Ethanol Groups Join Together
The Ethanol Promotion and Information Council is joining with the newly-formed Growth Energy group. EPIC Executive Director Toni Nuernberg made the official announcement today that the organization’s board of directors is recommending a transition plan to the membership for the two groups to combine. “The mission of EPIC’s formation— growing ethanol awareness through public relations, marketing and promotions — will …
Ethanol Report from Cellulosic Summit
The third annual Cellulosic Ethanol Summit was held this week in Coral Gables, Florida and Renewable Fuels Association president and CEO Bob Dinneen was once again chairman of the summit. In this “Ethanol Report” podcast, Dinneen discusses a number of issues – including the race to commercialize cellulosic ethanol, the new administration, getting more flex fuel vehicles on the road, …