So what’s up with the biofuels sector? Two biofuels companies last week filed unpriced initial public offerings (IPOs) with the Securities and Exchange Commission and a third did the same earlier this summer. A fourth biofuels company completed an IPO in April 2010.
Suzano Papel e Celulose SA (PINK: SUZBY), a Brazilian pulp and paper product maker founded with the goal of becoming the leader in the global wood pellets market, plans to sink US$1.3 billion into the formation of a renewable energy unit to help reach that objective.
Hundreds of companies are pursuing different technologies and strategies they believe will yield a winning next-generation biofuel. To increase its odds of backing a winner, Khosla Ventures has made no less than nine investments in this sector.
FedEx hopes to get a third of its jet fuel from biofuels by 2030, according to CEO and chairman Fred Smith who announced the goal in a recent speech at the U.S. Chamber of Commerce Aviation Summit.
U.S. President Barack Obama's administration issued a draft rule to slash the greenhouse gas emissions of biofuels, but confirmed former President Bush’s commitment to produce corn-based ethanol.
Following the 2009 Sustainable Energy Expo in Washington D.C., the Sustainable Energy Coalition put forward the latest statistics regarding American consumption of renewable energy in 2008.
Welcome to EnergyBoom.
Once thought to be the answer to fossil fuels' dwindling supply and reducing greenhouse gas emissions, biofuels have now become somewhat of a pariah.
The oil industry has backed off alternative energy investments in recent months. BP, for instance, made news in April when it cut 620 jobs of an original 4,400 in its solar business. Last October it killed a $67 million expansion of its solar manufacturing operation in Maryland.
Check out the podcast interview I did recently on biochar company Re:Char. Apologies for the background noise.
Re:char is the brainchild of Jason Aramburu, a recent Princeton University graduate and now self-styled biochar entrepreneur and researcher.
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