CNN Money article calls biodiesel the “rock star of fuels”; profiles rumored IPOs for Renewable Energy, Imperium Renewables
“Biodiesel is the rock star of fuels,” said Will Thurmond, author of Biodiesel 2020: A Global Market Survey, in a glowing review of biodiesel entrepreneurs and companies published by cnn.com. “The U.S. market for the combustible stuff has more than doubled every year since 2004 and will hit $1 billion this year. The number of retail pumps nationwide has grown from 350 in 2005 to more than 1,000 today. A couple of biodiesel IPOs are in the offing - and opportunities abound. It has moved from Woodstock to Wall Street,” the article stated.
The article profiles the expected IPO of Renewable Energy Group, which controls 27% of US biodiesel production after being formed from an Iowa soybean farmer cooperative. REG expects to increase production to 240 million gallons by 2008. The article suggests that Imperium Renewables, in Washington State, the Paul Allen-backed venture, may also file an IPO.
Imperium recently opened a 100 Mgy biodiesel facility in Washington and is securing feedstock from Washington state canola farmers.
