Submitted by Biofuels Digest Blog
Top Story:In Iowa, Green Plains Renewable Energy received a $2.19 million grant from the Iowa Power Fund for algae-related development. Details over licensing and royalties remain to be worked out in coming weeks. The grant will fund 75 percent of a $2.8 million, 195-day algae production trial that will produce 1.6 tons of algae biomass. A second phase costing $4.2 million would produce a half-ton per week of algae biomass, and a third phase costing $80 million for a commercial scale plant would produce 1700 pounds per hectare per day of biomass.
World Opinion:The New York Times writes in an editorial that “Rising food prices provide an urgent argument to nix ethanol’s supports,” noting that “At best, corn ethanol delivers only a small reduction in greenhouse gases compared with gasoline. And it could make things far worse if it leads to more farming in forests and grasslands.”
US News and World Report notes that panic among national leaders is scuttling trade that holds down food prices, “Countries in Asia and South America are clamping down on exports or banning them, often at the behest of panic-stricken leaders worried about inflation….In a sense, the unfolding scene is a sort of “prisoner’s dilemma” known in game theory: Individuals (and individual countries) are moving to protect their own interests—”defecting” rather than cooperating—as supplies become more precious.”
The Chief Innovation Officer of Dupont, Thomas Connelley, interviewed in The Hindu, said “We recognised that the future of bio-based space will be constrained by the limitation of carbon from food crops….I should say we anticipated the direction but not the speed at which we would reach there.”
AFP reports on a letter from UK Prime Minister Gordon Brown to Japanese prime minister Yasuo Fukuda: “There is growing consensus that we need urgently to examine the impact on food prices of different kinds and production methods of biofuels.” Brown called for a “a WTO trade deal that provides greater poor country access to developed country markets.”
Producer News:
In California, Tellurian Biodiesel entered into a JV with Golden State Foods to obtain used cooking oil for biodiesel production. The New Encore venture will produce the biodiesel at a 5 Mgy production plant that will market the biodiesel to trucking companies, municip[al fleets and to Golden State Foods.
In Delaware, O2Diesel Corporation announced the acquisition of acquire of YellTec, a German biofuels distributor specializing in small to medium sized truck fleets with sales of $50 million. Terms were not disclosed.
The Iowa Power Fund Board delayed its decision on a $20 million request for the POET Project Liberty cellulosic ethanol project at Emmetsburg, saying the Fund did not have enough cash. The Fund received $25 million for 2008 from the Iowa State Legislature.
International News:
In Australia, the Manildra plant in Nowra and a plant in Shoalhaven will double production as New South Wales develops a network to support its 2011 target of 10 percent renewable fuel mandate.
In the Dominican Republic, Globasol announced a $30 million investment in a 18 Mgy jatropha biodiesel plant in Azua province to supply fuel for the group’s hotel chain Globalia.
In Laos, Mitr Phol Group announced a $125 million investment in an ethanol plant, 48,000 acre sugarcane plantation and sugar mill. Location and capacity of the plant were not disclosed.
Research News:
NPR’s Science Friday will air an update on biofuels research tomorrow, with calls acceptted from 2-4 EDT. In this week’s segment, George Huber, of the University of Massachusetts at Amherst, reports on green gasoline, highlighted earlier this week in Biofuels Digest. Also, Miriam Sticklen of Michigan State University will highlight work on enzymes from cattle used for cellulosic ethanol and Percival Zhang of Virginia Tech will relate developments in producing hydrogen gas from biomass.
Policy and Policymakers:
The European Environment Agency Scientific Committee has called on the EU to suspend the 10 percent biofuels target for 2020 and instead conduct a comprehensive scientific study on the environmental risks and benefits of biofuels.
Consumer and Fleet News:
In Florida, Kinder Morgan’s Central Florida Pipeline will commence delivering ethanol by pipeline between the Port of Tampa and Orlando Airport. The first test batch will be delivered in the third quarter after replacement of pumps, seals, and gaskets, to a 23 million gallon storage facility established in Orlando.
Financial News:
In New York, trading of New York Harbor ethanol futures commenced on the New York Mercantile Exchange, the first physical ethanol futures contract. The Chicago and New York futures launched last year did not have a physically delivered contract.
The Biofuels Digest Index™ (BDI), a basket of public biofuels stocks, gained 0.59 percent to close at 120.32 as ethanol drops offset gains by small caps diversified agribusiness. For the day, Archer Daniels Midland (ADM) rose 0.90 percent to close at $43.62, while among ethanol stocks, Aventine Renewable Energy (AVR) fell 10.18 percent to $4.50 as corn reached $6 per bushel. Among small caps, Green Shift (GERS.OB) gained 5.38 percent to close at $0.137 and Green Energy Resources (GRGR.PK) rose 8.33 percent to $0.13. Overall, advances and declines were even for the day.
This entry was posted on Friday, April 11th, 2008 at 10:16 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
