The country’s largest biodiesel producer, Renewable Energy Group (REG), has paid off its long-term debt obligations of its operating biorefinery subsidiary in Seneca, Illinois. REG Seneca, LLC retired its outstanding long-term debt obligation of $34.5 million on December 21 with cash generated from operations since April 2010. This amended and restated credit agreement went into effect April 2010 with Portigon …
Ethanol Industry Pleased With Tax Extensions
Very early this morning the American Taxpayer Relief Act of 2012 was passed that included several one-year biofuel tax extensions including the Cellulosic Producer Tax Credit. While the ethanol industry was pleased with the bill, they remain outspoken that the biofuel industry needs a long-term federal commitment – not just one year. Brooke Coleman, Executive Director of Advanced Ethanol Council …
Fiscal Cliff Aversion Benefits Biodiesel
The U.S. House of Representatives burned the midnight oil of the first day in the New Year and signed the Senate’s “fiscal cliff” bill. The package includes several tax extenders items, including the reinstatement of the 2013 biodiesel blenders tax credit as well as retroactive credit for 2012. Shortly after the vote, the biodiesel industry reacted including the Renewable Energy …
Ag Secretary Reacts to EPA Administrator Resignation
Agriculture Secretary Tom Vilsack has had a good working relationship with EPA Administrator Lisa Jackson on various issues important to farmers, ranchers and renewable energy and he is sorry to hear about her resignation from the Obama cabinet. “Lisa Jackson has served our country well as she balanced improving the environment and the health of the American people – while …
REG Newton Extends Loan Agreement
Renewable Energy Group (REG) has announced that its REG Newton, LLC loan with AgStar Financial Service, PCA was extended for one additional year. The biodiesel facility entered into this debt agreement with AgStar in conjunction with the related March 2010 acquisition of the assets of Central Iowa Energy, LLC. “We’re pleased that the lender syndicate saw fit to extend this …
Free Biodiesel Chemistry Kits for Teachers
The Indiana Soybean Alliance is offering high school teachers free Soy Biodiesel Chemistry Kits. The kits were developed by Purdue University researchers in partnership with education professionals with funding from ISA and the Indiana soybean checkoff organization. Indiana science teachers can receive the kit free as part of ISA’s program. The kit was first released in 2005 and is now …
Congress Stands Behind Military
The House and Senate Armed Services Committees finalized the National Defense Authorization Act of 2013 (NDAA) yesterday and today Congress stood behind the military by passing the Act without including controversial proposals that would have banned the Department of Defense from expanding its use of advanced biofuels. In response to the passage, Jim Greenwood, CEO and president of the Biotechnology …
Ethanol Year in Review – 2012
In this Ethanol Report, Renewable Fuels Association (RFA) president and CEO Bob Dinneen provides his naughty and nice list for Santa, talks about a new progress report on cellulosic biofuels, and promises 2013 will bring one of the biggest fights for the future of energy policy. Dinneen says those who deserve coal include industries that have continued to relentlessly attack …
Cellulosic Biofuels Progress Report
The Advanced Ethanol Council has just released a detailed look at the progress made towards the commercial deployment of advanced cellulosic biofuels. The Cellulosic Biofuels Industry Progress Report profiles production facilities and projects across the country and producing nations around the world. According to the report, all countries that were profiled are working toward developing production capacity in the U.S. …
USDA Supports Sustainable Bioenergy Production
The United States Department of Agriculture (USDA) has awarded $10 million in research grants to help develop production of bioenergy and biobased products. Ag Secretary Tom Vilsack made the announcement while visiting Michigan State University, one of the grant winners. While there, Vilsack mentioned the growth potential of biobased products as detailed in a recent study by Iowa State University …