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Date: 2013-02-20
Chromatin, Inc., a provider of innovative crop breeding technology, sorghum seed products and feedstocks, and Pacific Ethanol, Inc. have entered into a multi-year agreement to produce, deliver and use locally grown sorghum in the production of ethanol. The agreement covers up to 30,000 acres of Chromatin sorghum to be grown over multiple years and supplied to Pacific Ethanol.
California ethanol producers have been seeking locally grown alternative crops to corn to reduce feedstock costs and to improve their carbon footprint. California-grown sorghum has proven to be a cost effective and energy efficient alternative. Using sorghum grain also enables ethanol producers to qualify as Advanced Bio-fuel Producers . (Source: Chromatin, PR, Feb. 18, 2013) Contact: Chromatin Inc., David Jessen, CEO, (312) 235-3610, www.chromatininc.com; Pacific Ethanol, Paul Koehler, Pres, (503) 235-8241, [email protected], www.pacificethanol.net
Tags Sorghum news, Pacific Ethanol news, Chromatin news, Ethanol news,
Date: 2013-01-21
Pacific Ethanol Inc. has closed agreements to increase its ownership interest in the Pacific Ethanol plants and improve its debt position. Sacramento-based Pacific Ethanol purchased $21.54 million of secured term debt in the Pacific Ethanol plants and extended the maturity date of that debt from June, 2013 to June, 2016. This transaction also extended maturity of Pacific Ethanol's $10 million secured revolving line of credit from June, 2013 to June, 2015. The company also purchased an additional 13 percent ownership in New PE Holdco LLC -- the entity that owns Pacific Ethanol's plants -- for $1.3 million. These actions increase Pacific Ethanol's ownership to 80 percent. The company issued $22.2 million of senior unsecured notes, and five-year warrants to purchase an aggregate of 25.6 million shares of the company's common stock to fund these transactions. (Source: Pacific Ethanol, Sacramento Bus. Journal, Jan. 18, 2013) Contact: Pacific Ethanol, Paul Koehler, Pres, (503) 235-8241, [email protected], www.pacificethanol.net
Tags Pacific Ethanol news, Ethanol news,
Date: 2013-01-14
Biomaterials and sustainable fuels company Edeniq reports that Pacific Ethanol Stockton LLC will install Edeniq's proprietary Cellunators™ technology at the company's ethanol plant in Stockton, California. Pacific Ethanol will also deploy Edeniq's patented OilPlus™ corn oil extraction process to increase corn oil recovery.
Edeniq's Cellunator™ technology mills corn and other plant materials into 'right-sized' particles of feedstock that can be more efficiently converted into the plant sugars needed to produce biofuels. Edin1q's OilPlus™ combines thermal, mechanical, and chemical treatments to improve the recovery of corn oil, a valuable co-product that can be used for feed and other bio-industrial products.
Paccific Ethanol has four ethanol plants in the Western U.S. including California, Oregon and Idaho, with a combined ethanol production capacity of 200 million gpy.
Edeniq currently has technology agreements with six ethanol producers across the U.S. Pacific Ethanol will be the company's second plant partner in California. In addition, Edeniq owns and operates a demonstration-scale production facility in Visalia, California, which is currently converting a range of cellulosic feedstock into low-cost cellulosic sugars and cellulosic ethanol.
(Source: Edeniq, Inc., PR, Jan. 11, 2013) Contact: Pacific Ethanol, Paul Koehler, Pres, (503) 235-8241, [email protected], www.pacificethanol.net; EdeniQ, Daniel Lane, (559) 302-1777, www.edeniq.com
Tags Pacific Ethanol news, Edeniq news, Corn Ethanol news,
Tags Biofuel Feedstocks news, Corn Ethanol news, Pacific Ethanol news, Edeniq news,
Date: 2012-12-07
Following on oir June 7 coverage, Nasdaq has granted Sacramento-based Pacific Ethanol Inc. a 180-day extension to avoid delisting due to the company's non-compliance with the rule requiring listed securities to maintain a minimum $1 per share closing bid price for 10 consecutive trading days. That was Pacific's second delisting warning in a year and the third since September 2009. With this new warning, Pacific now has until June 3, 2013 to comply. (Source: NASDAQ, Pacific Ethanol, Sacramento Bee, 5 Dec. 2012) Contact: Pacific Ethanol, Paul Koehler, Pres, (503) 235-8241, [email protected], www.pacificethanol.net
Tags Pacific Ethanol news,
Date: 2012-12-07
Chicago-based Chromatin Inc. reports that it's seeds have generated the first crop of sorghum grown by L&R Mussi Farms of Stockton, California. The crop was grown specifically for, and used for ethanol production by, Pacific Ethanol, Inc.
Ethanol producers in California and elsewhere have been seeking an alternative to corn to reduce feedstock costs, improve their carbon footprint, and to source feedstock from locally grown energy-efficient crops. By using sorghum grain, ethanol producers may qualify as advanced biofuel producers and qualify for financial incentives.
According to Pacific Ethanol president Neil Koehler, Pacific Ethanol used sorghum for approximately 30% of the feedstock at our Stockton plant during the third quarter.
(Source: Chromatin, Pacific Ethanol, Biofuels Bus. Quarterly, 5 Dec., 2012) Contact: Chromatin Inc.,
Contact: Chromatin Inc., David Jessen, CEO, (312) 235-3610, www.chromatininc.com; Pacific Ethanol, Paul Koehler, Pres, (503) 235-8241, [email protected], www.pacificethanol.net
Tags Chromatin Inc news, Pacific EThanol news, Sorghum news, Biofuel news,
Date: 2012-11-09
Sacrament-based Pacific Ethanol, Inc. reports that it will utilize EdeniQ's patented OilPlus™ corn oil separation technology at its Stockton, California plant -- the second Pacific Ethanol plant to utilize the technology. In June 2012, the company also announced the implementation of corn oil separation technology at its Magic Valley plant. Corn oil is a high value co-product for the Pacific Ethanol plants. (Source: Pacific Ethanol, Nov. 5, 2012) CONTACT: Pacific Ethanol, Paul Koehler, Pres, (503) 235-8241, [email protected], www.pacificethanol.net; EdeniQ, Daniel Lane, (559) 302-1777, www.edeniq.com
Tags Pacific Ethanol news, Edeniq news, Corn Ethanol news,
Date: 2012-09-28
Sacramento, California-based Pacific Ethanol Inc has priced an underwritten public offering of 27.5 million units at $0.40 a unit, for gross offering proceeds of $11 million. The net proceeds from the offering will be used to repay $10 million in senior unsecured notes that are due in April 2013, with the balance going toward general corporate purposes. Each unit consists of one share of common stock and one deserve to buy one share of common stock (warrant). The shares of common stock and warrants are immediately separable and will be issued un-connectedly. The Warrants are exercisable upon issuance, have a 3-year term and an exercise price of $0.59 a share. (Source: Pacific Ethanol, Money & Finance, Sept, 24, 2012) Contact: Neil Koehler, President and CEO, Pacific Ethanol, (916) 403-2123, www.pacificethanol.net
Tags Pacific Ethanol news,
Date: 2012-07-30
Engulfed by the worst nationwide drought in decades, the U.S. ethanol industry is struggling with soaring corn prices that show little sign of retreat. Since mid-June, corn prices have jumped over 60 percent, while ethanol prices have increased approximately 33 percent over the same period and some companies are losing 35 cents on each gallon of ethanol produced.
Five Star Equities examines the outlook for companies in the Ethanol Industry and provides equity research on BioFuel Energy Corp. Access to the full company reports can be found at: www.FiveStarEquities.com/BIOF www.FiveStarEquities.com/PEIX
Five Star Equities has not been compensated by any of the above-mentioned companies. We act as an independent research portal and are aware that all investment entails inherent risks. Source: Five Star Equities, 27 July, 2012) Five Star Equities, Please view the full disclaimer at: www.FiveStarEquities.com/disclaimer
Tags BioFuel Energy news, Pacific Ethanol news,
Date: 2012-05-11
Sacramento, California-based Pacific Ethanol Inc. reports a net loss of more than $5.2 million or 6 cents per share in the first quarter on revenue of more than $197.7 million. That compares to a net loss available to common stockholders of $294,000, or 2 cents per share on revenue of $173.1 million , for the same quarter a year earlier. Total gallons sold were 114.8 million for the first quarter of 2012, an increase of 36 percent over the 84.6 million gallons sold in the first quarter of 2011. The net sales growth was primarily driven by an increase in third party gallons sold. Gross loss was $7.5 million for the first quarter of 2012, compared to gross profit of $2.6 million in the first quarter of 2011. The decrease in gross profit was attributable to unfavorable margins from the Pacific Ethanol plants, the company says. Operating loss for the first quarter of 2012 was $10.9 million compared to an operating loss of $1.6 million for the same period in 2011, primarily due to additional losses attributable to the Pacific Ethanol plants, it says.
Pacific Ethanol operates and manages ethanol production facilities with a combined annual production capacity of 200 million gallons. (Source: Pacific Ethanol, Central Valley Business Times. 10 May, 2012) Contact: Neil Koehler, President and CEO, Pacific Ethanol,(916) 403-2123, www.pacificethanol.net
Tags Pacific Ethanol news,
Date: 2012-04-02
Mascoma Corporation and Lallemand Ethanol Technology, a supplier of fermentation ingredients to fuel ethanol producers, have entered into a commercial agreement with Pacific Ethanol Columbia, LLC, the owner of the ethanol production facility located in Boardman, Oregon and operated by Pacific Ethanol, Inc., a leading marketer and producer of low-carbon renewable fuels in the Western U.S.
The agreement provides terms and pricing for any purchases of the Mascoma Grain Technology, or MGT™, yeast product for use at Pacific Ethanol Columbia's 40 million gpy facility and also provides for the extension of these terms and pricing to three additional plants operated by Pacific Ethanol. The four Pacific Ethanol plants have a combined annual production capacity of approximately 200 million gpy. The MGT product, which is the first commercial application of Mascoma's proprietary consolidated bioprocessing (CBP) technology platform, is a bioengineered drop-in substitute for conventional fermenting yeast that lowers costs for corn ethanol producers by alleviating the need to purchase most of the expensive enzymes currently used in corn ethanol production.
The MGT product is manufactured and distributed by Lallemand and jointly marketed and sold by Mascoma and Lallemand through a partnership to commercialize MGT in North America. The MGT product is sold to corn ethanol producers under commercial arrangements that provide Mascoma with a portion of the incremental margin generated by the product. Mascoma expects that it will begin recognizing revenues from its MGT product in the first quarter of 2012. (Source: Mascoma, March 29, 2012) Contact: Neil Koehler, President and CEO, Pacific Ethanol,(916) 403-2123, www.pacificethanol.net; Bill Nankervis, General Manager, Lallemand Ethanol Technology, (800) 583-6484, [email protected], www.ethanoltech.com; Bill Brady, CEO , Mascoma, (603) 676-3320, www.mascoma.com
Tags Pacific Ethanol news, Lallemand Ethanol news, Mascoma news,
Date: 2012-03-22
Sacramento, California-based Pacific Ethanol has issued 7.6 million shares of common stock at a price of $1.05 to the investors from 11 private equity funds who participated in an $8 million private offering in December. The deal at the time was based on a $1.5 per share strike price for five-year warrants. (Source: Pacific Ethanol, March 20, 2012) Contact: Neil Koehler, President and CEO, Pacific Ethanol,(916) 403-2123, www.pacificethanol.net
Tags Pacific Ethanol news,
Date: 2012-03-16
Pacific Ethanol Inc. (NASDAQ: PEIX) filed a registration statement Wednesday cleaning up the paperwork from its successful $8 million private offering in December. The Sacramento, California-based marketer and producer of low-carbon renewable fuels issued 7.6 million shares of common stock at a price of $1.05. Investors in December acquired five-year warrants at a strike price of $1.50. Those investors are 11 private equity funds. With the registration, they can now at their discretion convert warrants to shares of the company.
In December, Pacific Ethanol signed purchase agreements to acquire an additional 7 percent in the four ethanol plants it operates. The purchase will give Pacific Ethanol 34 percent ownership in its plants.
The company's four ethanol plants in three states have a combined annual production capacity of 200 million gallons.
The company began construction of its first ethanol plant in 2006, and it completed the fourth plant in 2008. It has ethanol plants in Stockton and Madera in California, Burley, Idaho and Boardman, Ore. (Source: Pacific Ethanol Inc., March 14, 2012) Contact: Neil Koehler, President and CEO, Pacific Ethanol,(916) 403-2123, www.pacificethanol.net
Tags Pacific Ethanol news,
Date: 2012-01-26
The U.S. continues to devote a growing percentage of its corn crop to ethanol production despite recent U.N. data showing that global food inflation hit an all-time high in December, 2011. An article from Investing Daily earlier this month argues that next year's USDA data could reveal that half of the corn grown in the US went to ethanol production. Sugarcane producers in Brazil could soon play a larger role in ethanol production, however, taking some of the burden away from U.S. corn producers. Five Star Equities examines the outlook for companies in the ethanol industry and provides equity research on Pacific Ethanol Inc. and Cosan Limited .
Jose Graziano da Silva, the new director general of the United Nations' Food and Agriculture Organization (FAO), recently argued that the use of corn to make ethanol in the U.S. is playing a noticeable factor in raising grain prices worldwide. "We have been looking into the details of the price, and nowadays there is no doubt that the use of maize in the U.S. for biofuels affects the prices of maize all over the world," Graziano da Silva said. Graziano da Silva argues that "food security comes first, that is the rule." The FAO head says the organization's current position is that cereals should not be used for biofuel production. Ethanol production from sugar cane in Brazil accounts for only 3 % of land use, and does not currently affect the price of sugar on international markets, according to the director general of the FAO.
The Brazilian Development Bank announced earlier this month a program to finance low cost loans for farmers of sugarcane and producers of ethanol. The country is seeking to boost biofuel production in the wake of ethanol tariffs and subsidies expiring in the US. The timing of the announcement -- which came briskly after the expiration of the US ethanol tariff and blending tax credit -- is purely a "coincidence," said Eduardo Leao de Sousa, Executive Director at UNICA, an industry association.
Access to the full company reports can be found at www.fivestarequities.com/PEIX, and www.fivestarequities.com/CZZ(Source: Five Star Equities, January 24, 2012)
Tags Corn Ethanol news, Sugarcane Ethanol news,
Date: 2012-01-03
In what could be construed as a victory for out-of-state ethanol producers and refiners vowing to appeal California's signature attempts to lower greenhouse gas emissions, U.S. District Judge Lawrence O'Neill in Fresno on Thursday issued a preliminary injunction against a regulation adopted by the California Air Resources Board (CARB) in 2010. The rules are aimed at rewarding biofuels producers that consume less energy in their businesses, including transportation to customers. Out-of-state producers having to ship their fuels over long distances would be at a disadvantage to California refiners.
The regulation unconstitutionally discriminates against out-of-state producers, O'Neill found. Sue Reid, vice president at the Conservation Law Foundation, said O'Neill's injunction is "surprising" in terms of its scope.
Dave Clegern, a spokesman for the board, said it plans to ask O'Neill next week to put his ruling on hold, pending an appeal to the 9th U.S. Circuit Court of Appeals. Shares of Pacific Ethanol Inc, which produces and markets renewable fuels on the West Coast, fell 7 percent on Friday following the judge's ruling.
The regulation was intended to force producers and refiners by 2020 to reduce their fuel's carbon footprint by 10 percent as part of a state effort to reduce greenhouse gas emissions to 1990 levels. It was adopted in the wake of a related 2007 executive order by Arnold Schwarzenegger, then the state's governor. While Congress has constitutional power to regulate interstate commerce, state interference with such commerce is also limited under so-called dormant Commerce Clause interpretations of the U.S. Constitution.
Industry participants applauded the decision, including Bob Dinneen, chief executive of the Renewable Fuels Association, and Tom Buis, chief executive of trade group Growth Energy. Those entities are plaintiffs in the case.
Environmentalists, meanwhile, are hoping for a better result on appeal.
The case is Rocky Mountain Farmers Union et al v. Goldstene et al, U.S. District Court, Eastern District of California, No. 09-02234.(Source: Scientific American)Contact: CARB, Robert DuVall, (916) 324-5930, [email protected], www.arb.ca.gov
Tags California Air Resources Board news, CARB news,
Date: 2011-12-12
Sacramento, California-based Pacific Ethanol Inc. reports that it raised $8 million in new capital from unidentified investors and will use much of the money to increase its ownership stake in its production plants. The company will issue over 7.6 million shares of new stock to the investors in a private placement at $1.05 a share. The investors also have the right to purchase additional shares at $1.50. The company will use better than half of the proceeds from the private stock sale to increase its stake in its four plants by 7 percentage points. When that deal closes, it will own 34 percent of the plants.
Pacific Ethanol lost the four plants to creditors in bankruptcy, but has been managing the facilities while gradually buying back ownership of the facilities. (Source: Pacific Ethanol, December, 9, 2011) Contact: Neil Koehler, President and CEO, Pacific Ethanol,(916) 403-2123, www.pacificethanol.net
Tags Pacific Ethanol news,
Date: 2011-12-07
A month after announcing record net sales in the third quarter, Pacific Ethanol Inc. made two more positive announcements; the company said it is back in compliance with NASDAQ listing requirements and it has purchased an additional 7 percent ownership interest in New PE Holdco LLC, which owns the four Pacific Ethanol plants.
Pacific Ethanol beat a March 12, 2012, deadline to regain compliance with a NASDAQ Stock Market listing rule that requires a minimum closing bid of $1 per share. NASDAQ contacted Pacific Ethanol Nov. 29 by letter, confirming that the company qualified for continued listing by maintaining a closing bid price of at least $1 per share for 10 consecutive trading days.
On Dec. 1 Pacific Ethanol announced that it paid $4.5 million in cash for 7 percent additional interest in the company that owns the four ethanol plants that bear the Pacific Ethanol name. The company now owns a 27 percent ownership interest in New PE Holdco. The company first paid $23.3 million in cash on Oct. 6, 2010, for the initial 20 percent of New PE Holdco.
Pacific Ethanol's four ethanol plants include a 60 MMgy plant in Burley, Idaho, a 40 MMgy plant in Boardman, Ore., and a 60 MMgy plant in Stockton, Calif. A 40 MMgy plant in Madera, Calif., will be restarted when market conditions improve. (Source: Pacific Ethanol Inc., December, 6, 2011) Contact: Neil Koehler, President and CEO, Pacific Ethanol,(916) 403-2123, www.pacificethanol.net
Tags Pacific Ethanol news,
Date: 2011-11-17
Pacific Ethanol, Inc. , a leading marketer and producer of low-carbon renewable fuels in the Western United States, reports that it retired in full its $35.0 million senior convertible notes on November 15, 2011, with its final payment in shares of its common stock. As of November 15, 2011, Pacific Ethanol had approximately 77.5 million common shares outstanding.(Source: Pacific Ethanol, Inc, November, 16, 2011)Contact: Neil Koehler, President and CEO, Pacific Ethanol,(916) 403-2123, www.pacificethanol.net
Tags Pacific Ethanol news,
Date: 2011-10-21
Pacific Ethanol, Inc. has entered into an agreement with its wholly owned subsidiary Pacific Ethanol Management Services Corp, and ZeaChem Inc. to provide operations, maintenance and accounting (OMA)services for ZeaChem's 250,000 gpy cellulosic integrated biorefinery in Boardman, Oregon. ZeaChem is a developer of biorefineries for the conversion of renewable biomass into sustainable fuels and chemicals.
Under the terms of the agreement, Pacific Services will provide operating services starting in the fourth quarter of 2011. (Source: Pacific Ethanol, Inc., October, 20, 2011)
Contact: Neil Koehler, President and CEO, Pacific Ethanol,(916) 403-2123, www.pacificethanol.net; Jim Imbler, President & CEO, ZeaChem Inc, (303) 279-7045, [email protected], www.zeachem.com
More Energy Overviews Pacific Ethanol news, Zeachem news,
Date: 2011-09-09
Pacific Ethanol, Inc. , a western U.S. renewable fuels producer and marketer, reports that its subsidiary, Kinergy Marketing LLC, has entered into a two-year extension of its exclusive ethanol marketing arrangement with AE Advanced Fuels Keyes, Inc. AE Keyes is a wholly-owned subsidiary of AE Biofuels, Inc.
As previously announced, on November 11, 2010, Kinergy entered into an exclusive ethanol marketing arrangement with AE Keyes to sell all the ethanol produced by its 55 million gpy ethanol production facility located in Keyes, California. The AE Keyes facility became operational in the second quarter of 2011, and on September 7, 2011, Kinergy and AE Keyes signed an amendment to the marketing agreement which extended the term through August 31, 2013. (Source: Pacific Ethanol, September, 8, 2011)
Contact: Neil Koehler, PEI's President and CEO,(916) 403-2123, www.pacificethanol.net; Andy Foster, EVP, AE Biofuels, (408) 213-0928, [email protected], www.aebiofuels.com
More Energy Overviews Pacific Ethanol news, AE Biofuels news,
Date: 2011-07-07
Pacific Ethanol, Inc. (Nasdaq:PEIXD),the leading marketer and producer of low-carbon renewable fuels in the Western United States, has amended its marketing and asset management agreements for the four ethanol production facilities the company operates and whose ethanol the company markets. Pacific Ethanol is a 20% owner of New PE Holder LLC, the holding company of the four plant owners. The amendments renew the agreements for an additional year and implement other changes to reflect current market conditions. The amended agreements are effective June 30, 2011.
Additional terms and details of the amendments are more particularly described in a Current Report on Form 8-K to be filed today with the SEC. (Source: Pacific Ethanol, July, 6, 2011)
Contact: Neil Koehler, PEI's president and CEO,(916) 403-2123, www.pacificethanol.net
More Energy Overviews Pacific Ethanol news,
Date: 2011-06-14
Pacific Ethanol, Inc., a leading marketer and producer of low-carbon renewable fuels in the Western U.S., has increased its subsidiary, Kinergy Marketing's credit facility with Wells Fargo Capital Finance, from $20 million to $30 million, subject to certain conditions.
According to Pacific president and CEO Neil Koehler, "Our total gallons sold have increased rapidly and consistently over the last seven quarters at an annualized compound growth rate of 66%. This growth continues as our unique distribution business enables us to increase our market share in the Western United States. Our expanded credit facility lowers our cost of capital and clearly demonstrates our lender's confidence in our growth strategy."
(Source: PEI, June, 13, 2011)
Contact: Paul Koehler, Investor Relations, Pacific Ethanol, (503) 235-8241, [email protected], www.pacificethanol.net
More Energy Overviews Pacific Ethanol news, Kinergy news,
Date: 2011-03-28
Pursuit Dynamics (PDX), a multinational with offices in Britain, Switzerland and the U.S., has agreed to terms with Pacific Ethanol Columbia for the commercial operation of a a PDX ethanol reactor system intended to increase yields and reduce costs at Pacific Ethanol's Boardman plant. The agreement ensures that PDX shares in the full range of benefits that accrue to Pacific Ethanol Columbia through operating the system.
PDX says the system technology improves cycle times, enhances corn ethanol yields, and optimizes the overall production plant performance. (Source: Pursuit Dynamics, March 27, 2011) Contact: Pursuit Dynamics, (203) 286-0600, [email protected], www.pursuitdynamics.com; Paul Koehler, Investor Relations, Pacific Ethanol, (503) 235-8241, [email protected], www.pacificethanol.net
More Energy Overviews Pursuit Dynamics news, Pacific Ethanol Columbia news,
Date: 2011-01-18
In Oregon, Pursuit Dynamics' ERS system installed at the Pacific Ethanol Columbia Plant is working to design specifications and, after result analysis, delivering previously forecast cost savings and yield improvements.
Pursuit expects the plant at Boardman to be in full production by February 2011. The second and third installations at MABE and Marquis are on schedule to go into their operational verification shortly, with the remaining four plants expected to enter operational verification over the course of the year. (Source: Pursuit Dynamics PLC)
Contact: Pursuit Dynamics PLC, ( 203) 286-0600 , http://pdx.biz;
Paul Koehler, Investor Relations, Pacific Ethanol, (503) 235-8241, [email protected], www.pacificethanol.net
More Energy Overviews Pursuit Dynamics news, Pacific Ethanol news,
Date: 2010-10-19
In California, Pacific Ethanol plans to re-open it 60 million gpy ethanol plant in Stockton, reaching full production by December 2010. "Resuming production at the Stockton facility allows us to help meet the growing demand for high-value California-produced ethanol," said Neil Koehler, President and CEO. "As market conditions continue to improve, we also aim to resume operations at the 40 million gallon per year facility in Madera, California." (Source: Pacific Ethanol, October 18, 2010) Contact: Paul Koehler, Investor Relations, Pacific Ethanol, (503) 235-8241, [email protected], www.pacificethanol.net
More Energy Overviews Pacific Ethanol news,
Date: 2010-09-29
Pacific Ethanol, Inc. is embarking on several transactions intended to further improve the company's balance sheet and position the company for continued growth in the ethanol industry. Pacific Ethanol is issuing senior notes to raise $35 million. The company also is selling its minority ownership interest in Front Range Energy, LLC for $18.5 million in cash, bringing the total raised to $53.5 million.
In addition, Pacific Ethanol has also entered into $23.3 million agreement for the purchase of a 20% ownership interest in New PE Holdco LLC, the owner of four ethanol production facilities previously owned by Pacific Ethanol. The company plans to retire $17 million in corporate debt, accrued interest, and fees that are owed to Lyles United LLC and Lyles Mechanica. (Source: Pacific Ethanol, September 28, 2010 )
Contact: Paul Koehler, Investor Relations, Pacific Ethanol, (503) 235-8241, [email protected], www.pacificethanol.net
More Energy Overviews Pacific Ethanol news,
Date: 2010-08-12
Pacific Ethanol, Inc. subsidiaries, Pacific Ethanol Madera LLC and Pacific Ethanol Stockton LLC, have received California Energy Commission (CEC) approval for participation in the California Ethanol Producer Incentive Program (CEPIP). The Madera and Stockton plants have a combined annual production capacity of 100 million gpy.
The CEPIP is available to owners and operators of existing corn ethanol production facilities in California with a production capacity greater than 10 million gpy. The program provides temporary financial assistance of up to a maximum of $3 million to any single production facility during periods of difficult economic operating conditions. The program also stimulates operational improvements at existing ethanol facilities and the use of advanced process technology to convert cellulose and other low-carbon feedstocks. Applications are still being accepted under the program. (Source: Market Watch, August 11, 2010)
Contact: Paul Koehler, Investor Relations, Pacific Ethanol, (503) 235-8241, [email protected], www.pacificethanol.net; Sarah Williams, Grants and Loans Office, California Energy Commission, [email protected], California Ethanol Producer Incentive Program PON-09-607 Details.
More Energy Overviews Pacific Ethanol news,
Date: 2010-06-10
Pacific Ethanol is seeing light at the end of the tunnel. The company's reorganization plan has been confirmed as Pacific Ethanol Holding LLC and four wholly owned production facilities will emerge from bankruptcy protection. Pacific Ethanol has an option to purchase up to a $30 million equity position , or 25%, of the new company. "Holding an option to purchase an equity interest in the facilities at a significant discount to replacement costs is a valuable opportunity for Pacific Ethanol," said Chief Executive and President Neil Koehler. (Source: Reuters, June 9, 2010) Contact: Paul Koehler, Investor Relations, Pacific Ethanol, (503) 235-8241, [email protected], www.pacificethanol.net.
Date: 2010-05-26
Lignol Innovations Inc., a subsidiary of cellulosic ethanol developer Lignol Energy Corporation, and Pacific Ethanol, Inc., a West Coast ethanol producer and marketer, have signed a deal to evaluate the benefits of integrating Lignol's proprietary second generation biorefinery technology with Pacific Ethanol's existing corn ethanol facilities.
The companies believe this will result in capital and operating cost savings and see the integration of cellulosic ethanol production into an existing corn-ethanol operation as an opportunity to advance Lignol's technology. Pacific Ethanol executives see the collaboration as a way to lower the company's carbon footprint, diversify its feedstock and meet the future demand for advanced biofuels. (Source: CNW, May 25, 2010)
Contact: Paul Koehler, Exec. VP, Pacific Ethanol, (503) 235-8241, [email protected], www.pacificethanol.net; Paul Hughes, VP, Corporate Development & Communications, Lignol, (604) 222-9800 ext. 110, [email protected], www.lignol.ca.