Breaking News Alert: CLTH!
Market Wire, July, 2008
Wall Street Press Wire ( www.WallStreetPressWire.com ) is please to highlight its "stocks on the move" for Thursday. Our list includes: CleanTech Biofuels, Inc. (OTCBB: CLTH), SIRIUS Satellite Radio Inc. (NASDAQ: SIRI), GE (NYSE: GE) and Visa Inc. (NYSE: V).
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With additional breaking news just released, Wall Street Press Wire is continuing its in-depth coverage of CleanTech Biofuels, Inc. (OTCBB: CLTH), a development stage company with technology capable of converting municipal solid waste into ethanol.
Wednesday after the markets closed, the company issued an important press release announcing that Biomass Magazine, a leading industry publication, highlights the company's proposed commercial development in Chicago, Illinois, in an article released on the web earlier this week. The article will also appear in their magazine to be published in August. The full text of the article is available online: ( http://www.biomassmagazine.com/article.jsp?article_id=1810&q=hennessey ).
In other major breaking news this week, the company reported that it intends to use its proprietary technology at a commercial site in Chicago, Illinois, to produce cellulosic biomass as solid fuel for the production of electricity.
The press release states that beginning commercial production of biomass for electricity will allow CleanTech to develop significant revenue more quickly than originally anticipated! Tests on the feasibility of using the biomass from CleanTech's processes for electricity production indicated that the energy value (or Btu value) is approximately 75 percent that of coal. Testing also indicates that the biomass has substantially less pollutants in emissions from combustion than other refuse derived fuels and coal.
CleanTech believes that this approach will dramatically lower the cost of its first commercial ethanol plant. By using the infrastructure it constructs for electricity production to support cellulosic ethanol production at the same site in the future, CleanTech believes that it will be able to incrementally increase the amount of MSW processed at the site daily to support both operations.
"We look at the application of biomass co-fired with coal as the low hanging fruit that can be done commercially right now," CleanTech CEO, Ed Hennessey, said, "Coal prices have increased dramatically in recent years and that has increased the value of the energy content in our biomass." Hennessey further added, "We are looking to develop a plant in Chicago using the biomass as solid fuel to produce electricity with traditional debt and bond financing to fund a significant part of the development costs. When our cellulosic ethanol conversion technology is ready for commercial implementation, we hope to use the infrastructure at the existing plant to add a cellulosic conversion plant to the same site."
CleanTech Biofuels, Inc. is a development stage company with technology capable of converting municipal solid waste into ethanol. By using the existing infrastructure for municipal solid waste collection and disposal to collect biomass at negative feedstock cost, the Company expects to achieve profitability quickly relative to other ethanol producers who must develop their infrastructure to collect and transport more expensive feedstocks such as sugar cane, corn or even switch grass, wood waste, or corn stover.
Wall Street Press Wire's in-depth profile for CleanTech Biofuels is available at: http://www.wallstreetpresswire.com/page.php?BN_UID=66 .
The stock closed Wednesday at Ninety One a share.
SIRIUS Satellite Radio Inc. (NASDAQ: SIRI) up 4.4% on 156.7 million shares traded.
SIRIUS, "The Best Radio on Radio," delivers more than 130 channels of the best programming in all of radio. SIRIUS is the original and only home of 100% commercial free music channels in satellite radio, offering 69 music channels. SIRIUS also delivers 65 channels of sports, news, talk, entertainment, traffic, weather and data.
GE (NYSE: GE) up 2% on 55.4 million shares traded.
GE is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide.
Visa Inc. (NYSE: V) up 3.2% on 19 million shares traded.
Visa Inc. operates the world's largest retail electronic payments network providing processing services and payment product platforms. This includes consumer credit, debit, prepaid and commercial payments, which are offered under the Visa, Visa Electron, Interlink and PLUS brands.
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