Business Services Industry
Rentech Completes Purchase of Site for Commercial Scale Synthetic Fuels and Chemicals Facility
Business Wire, June 4, 2008
LOS ANGELES -- Rentech, Inc. (AMEX:RTK) today announced that it has completed the purchase of approximately 450 acres in Adams County, Mississippi near the city of Natchez. Rentech intends to build its Rentech Strategic Fuels and Chemicals Center at the site. The facility will produce Rentech's ultra-clean synthetic transportation fuels and specialty waxes and chemicals.
D. Hunt Ramsbottom, Rentech's President and Chief Executive Officer stated, "We are pleased to have completed the acquisition of this site for our commercial scale synthetic fuels and chemicals facility. The purchase of the site is another critical step in moving the project forward." Mr. Ramsbottom continued, "The site provides us with a competitive advantage because of its access to multiple feedstocks and several product distribution channels, including a CO2 pipeline that services enhanced oil recovery in the region."
Woody Allen, Chairman of Natchez-Adams County Development Authority, said, "The Natchez-Adams County Development Authority is excited about Rentech's purchase of the International Paper property and looks forward to continued positive working relations to develop a strategic fuels and chemicals center in Adams County."
Using the patented Rentech Process, the Rentech Strategic Fuels and Chemicals Center is expected to use primarily petroleum coke as gasification feedstock to produce ultra-clean synthetic fuels and specialty waxes and chemicals. The captured carbon dioxide produced at this facility is designated to be sold under an existing long-term agreement with Denbury Resources for enhanced oil recovery in the region. With the carbon capture and sequestration design, the carbon dioxide emissions from the production of fuels at the Natchez facility are expected to be lower than those generated in the production of traditional petroleum-derived fuels. The Company believes the fuels produced at this facility will be among the most greenhouse gas friendly fuels available in the country.
"Rentech is grateful for the local and state support received for this project, including the land purchase and the recent allocation approval of $175 million in tax-exempt GO ZONE bonds. These events are instrumental in the development of our commercial scale synthetic fuels and chemicals facility in Mississippi to help our nation's energy security needs in an environmentally sound manner," said Mr. Ramsbottom.
About Rentech, Inc.
Rentech, Inc. (www.rentechinc.com), incorporated in 1981, provides clean energy solutions. The Company has developed and patented the Rentech Process which transforms under-utilized domestic energy resources into valuable and clean alternative fuels, waxes and chemicals. These energy resources include natural gas, biomass, municipal solid waste, petroleum coke and coal. Rentech Energy Midwest Corporation manufactures and sells fertilizer products including ammonia, urea ammonia nitrate, urea granule and urea solution to the corn-belt region.
Safe Harbor
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995 about matters such as the Company's proposed clean synthetic fuels and chemicals complex in Adams County, Mississippi, including the funding for the project, the project design, and use of carbon dioxide generated from the project. 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 ability of Rentech to have the financial means to build the proposed project; the suitability of the proposed site for the project; and other 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 June 4, 2008, 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.
- 5 Rules for Immediate Annuities
- Death in the Family: 12 Things to Do Now
- Dumbest Things You Do With Your Money
- 6 Online Networking Mistakes to Avoid
- 401(k) Mistakes to Avoid
- 5 Economic Scenarios to Keep You Up at Night
- The Real ‘Best Places to Retire’
- Best Credit Cards for You
- 12 Tough Questions to Ask Your Parents
- The Real ‘Best Colleges’
- Home Buyer Tax Credit: How to Cash In
- Why You Shouldn't Bash Cash
- 8 Phony 'Bargains' and Better Alternatives
- Danger: 3 Debit Card Scams to Avoid
- 6 Myths About Gas Mileage
- 29 Fees We Hate Most
- Quick and Easy Ways to Boost Returns
- Best Stocks to Buy Now
- Lower Your Taxes: 10 Moves to Make Now
- New Jobs: 8 Lessons from Real-Life Career Switchers
- The New Job Market: Who Wins and Who Loses?
- Health Care Reform's Public Option: Everything You Need to Know
- Volunteer Work When Unemployed: Should You Work for Free?
- Whose Recovery Is This?
- Long-Term-Care Insurance: 4 Biggest Risks to Avoid
Content provided in partnership with
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Design a commission plan that drives sales - Sales Commissions
- Using object-oriented analysis and design over traditional structured analysis and design



