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RTK Rentech, Inc.

0.20
0.00 (0.00%)
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Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
Rentech, Inc. NASDAQ:RTK NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.20 0.195 0.205 0 01:00:00

Rentech Completes Acquisition of Majority of ClearFuels Technology Inc.

17/05/2011 6:00pm

Business Wire


Rentech, Inc. (NASDAQ:RTK)
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Rentech, Inc. (NYSE AMEX: RTK) announced today that it has completed the acquisition of a substantial majority of the equity ownership of ClearFuels Technology Inc. (ClearFuels), with ClearFuels continuing as a Hawaiian company, and existing ClearFuels investors retaining a minority interest.

The acquisition, previously announced on April 19, 2011, enables Rentech to add the ClearFuels biomass gasifier to the Company’s suite of energy conversion technologies, which includes the Rentech-SilvaGas biomass gasifier and Rentech’s process to produce drop-in fuels from synthetic gas. Rentech can offer multiple integrated systems to convert a wide variety of cellulosic materials into renewable low-carbon fuels certified for commercial aviation and ground vehicles, which can help address compliance with the European Union’s Emissions Trading Scheme and other low carbon and renewable fuels standards.

About Rentech, Inc.

Rentech, Inc. (www.rentechinc.com), incorporated in 1981, provides clean energy solutions. The Company's Rentech-SilvaGas and Rentech-ClearFuels biomass gasification processes can convert multiple cellulosic biomass feedstocks into synthesis gas (syngas) for production of renewable fuels and power. Combining the gasification processes with Rentech's unique application of syngas conditioning and clean-up technology and the patented Rentech Process based on Fischer-Tropsch chemistry, Rentech offers an integrated solution for production of synthetic fuels from cellulosic biomass. The Rentech Process can also convert syngas from fossil resources into ultra-clean synthetic jet and diesel fuels, specialty waxes, and chemicals. Final product upgrading and acid gas removal technologies are provided under an alliance with UOP, a Honeywell company. Rentech develops projects and offers licenses for these technologies for application in synthetic fuels and power facilities worldwide. Rentech Energy Midwest Corporation, the Company's wholly-owned subsidiary, manufactures and sells nitrogen fertilizer products including ammonia, urea ammonia nitrate, urea granule, and urea solution in the corn-belt region of the central United States.

Safe Harbor Statement

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995 about matters such as the capabilities of the ClearFuels biomass gasification technology, the ability to integrate the gasification technology with Rentech technologies and the characteristics of the renewable fuels to be produced from the technologies. These statements are based on management's current expectations and actual results may differ materially as a result of various risks and uncertainties. Other factors that could cause actual results to differ from those reflected in the forward-looking statements include the financial means of Rentech to build proposed projects, fluctuations in commodities prices including the price of oil and the materials necessary to construct projects, the impact of changing government regulations on the project permitting process and the qualification of renewable power and fuels and factors set forth in the Company's press releases and periodic public filings with the Securities and Exchange Commission, which are available via Rentech's web site at www.rentechinc.com. The forward-looking statements in this press release are made as of the date of this release, and Rentech does not undertake to revise or update these forward-looking statements, except to the extent that it is required to do so under applicable law.

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