Investments in bioenergy are smart investments for Allegro Biodiesel. Allegro is moving to diversify the bio-energy sector and acquire a biomass energy company in Colorado.
Allegro Biodiesel Corporation has announced that it has extended a $500,000 bridge loan to Littleton, Colorado-based Community Power Corporation as a first step in potentially acquiring the company.
Established in 1995, privately-held CPC is a leading developer of small modular bioenergy technology and products, which gasify a wide range of biomass residues for generation of power, heat, and synthetic fuels as a substitute for fossil fuels such as natural gas, propane and diesel. The company’s proprietary gasification system has successfully processed over 30 different biomass feedstocks including wood, nutshells, grasses, paper and plastics. The company has received more than $12 million in R&D funding and technical assistance from the U.S. Department of Energy, the U.S. Department of Agriculture, the U.S. Department of Defense, the California Energy Commission, and other organizations. Under these R&D projects, since 1998 CPC has built and shipped 24 modular biopower units to product development and demonstration sites in the U.S., the Philippines and El Salvador.
“Our agreement paves the way for Allegro to add biomass conversion to our core competency of biofuels production,” said Allegro Biodiesel Chief Executive Officer Bruce Comer. “CPC is a top player in this space with proven, environmentally-sound modular bio-energy technology.”
CPC develops automated, modular energy systems under the BioMax(R) trade name. These systems are designed for on-site conversion of biomass residues to clean energy for farms, schools, small manufacturing enterprises, communities, military encampments and other on-grid and off-grid applications.
CPC says the potential market for its modular biopower systems is more than $3 billion per year. Comer says Allegro will aim to drive CPC technology to the next level of commercialzation.
In urging Senators to block a vote on the bill, Sen. Pete Domenici of New Mexico, the ranking Republican on the Senate Energy and Natural Resources Committee, argued: “This is not a good bill, but it can be turned into a great bill.”
Hurt sees continual price rises in the corn, soybean and wheat markets through 2010 with a gradual settling leading up to that time and then a leveling off period.
The two biggest biodiesel producers in Wisconsin have combined forces to put the state’s second largest biodiesel plant online by the end of the year.
Commending those supporting this shift in energy policy direction in this country, Renewable Fuels Association President Bob Dinneen issued the following statement:
The upcoming National Biodiesel Board’s 2008 National Biodiesel Conference & Expo, February 3-6th at the Gaylord Palms Resort & Convention Center in Orlando, Florida, will be focusing on developing the feedstocks to make the green fuel.
The National Biodiesel Board has joined some key members of the House Agriculture Committee to rally for the expansion of the Renewable Fuels Standard (RFS).
The Energy Bill scheduled for consideration in the U.S. House contains a provision to use clean-burning, domestically produced renewable fuels to promote energy independence by expanding the existing RFS to 36 billion gallons by 2022. The proposal would also provide for a renewable requirement in diesel fuel. It would be met by biodiesel and other biomass-based diesel fuels. The legislation specifically requires that 500 million gallons of biodiesel and biomass-based diesel fuel be blended into the diesel pool in 2009, gradually ramping up to one billion gallons by 2012.