As Memorial Day approaches marking the beginning of summer driving season, gas prices have spiked. Last week, gas prices went up .19 cents per gallon in Iowa with ending average prices at $3.70 per gallon. Spikes were even higher in Minnesota/St. Paul with prices averaging $4.21 across the state while the national average is around $3.60 per gallon. In response …
Economist Says E85 Will Solve RINS Price Issue
A highly respected oil economist believes the solution to the current Renewable Identification Numbers (RINs) price issue is more sales of E85 (85% ethanol). Economist Phil Verleger has weighed in on the RINS situation in the latest edition of Notes at the Margin, his weekly email report about news impacting the petroleum industry. “The obvious solution to the RIN price …
New Ethanol Video Released
The Renewable Fuels Association (RFA) just released “40 Facts About Ethanol,” an animated video review of ethanols past, present and future. “This video proves once and for all that today’s ethanol is not your father’s ethanol. The ethanol industry has made impressive strides in the last 30 years in production volumes, foreign oil displacement, production efficiencies, co-products, job creation, and …
Chrysler’s Super Bowl Ad Garners Huge Response
People are still talking about Chrysler Group’s Super Bowl ad that highlighted the importance of America’s farmers, and today more than 100 Iowans have signed a letter urging Chrysler to recommend the use of E15 in its new vehicles. According to the Iowa Renewable Fuels Association (IRFA), higher blends of ethanol, such as E15, are necessary to maintain the farm …
First E85 Station Opens in Richmond, Virginia
The first E85 station has opened in Richmond, Virginia. In addition, MAPCO Express, has “re-branded” their retail stores under the “East Coast” brand and the three new E85 stations, two near Richmond and one near Washington, D.C. will be sold under this brand. Partners in the projects included Maryland Grain Producers Utilization Board, Protec Fuel, MAPCO Express and the Virginia, …
Pearson Fuels Recieves $1.35M for E85
Pearson Fuels (RTC Fuels, LLC) has been awarded $1.35 million for the installation of E85 dispensing equipment at 19 existing fueling stations throughout California. The monies were part of $3.27 million allocated by the California Energy Commission (CEC) for projects that will help the state reduce transportation sector emissions. CEC estimates the E85 fuel market in the state will eventually …
Propel Receives $21M in Investments
Propel Fuels has closed on the initial phase of its Series D round of funding with $11 million in equity capital from existing investors Nth Power, Craton Equity Partners, and @Ventures as well as a new investor, Gentry Venture Partners. In addition, the company has secured $10 million in debt financing from CapX Partners. With the additional funds, Propels plans …
New E85 Station Opens in Atlanta
Holiday travelers in Atlanta might be singing “I’ll Have a GREEN Christmas Without You” to their old petroleum-only based gas pumps this holiday season, as the newest E85 station has opened in the area. The E-Z Trip Chevron, Indore Oil Company and Protec Fuel joined forces to launch the 14th E85 station early last week in the metro at 3601 …
State Corn Groups Work For Consumer Choice
State corn associations across the country are working to bring more choice for consumers at the pump through the use of higher blends of ethanol, such as E15. Several programs are in place to help retailers install the infrastructure needed for consumers to take advantage of EPA’s decision to allow E15 to be used in vehicles 2001 and newer. In …
Propel 8th Fastest Growing Company in Silicon Valley
Propel Fuels was recognized as the 8th fastest growing company in Silicon Vally by the Silicon Valley/San Jose Business Journal as part of their Fast Private Awards. The award was based on a three-year growth rate in revenues of more than 400 percent. Today, Propel operates 28 fueling locations throughout California and Washington state with more than 200 locations planned …