Robert Wagner • 21 Comments
May 21, 2014, 8:44 AM
- Renewable Energy (REGI) +2.2% premarket after agreeing to acquire Tyson Foods' (TSN) 50% ownership stake in Dynamic Fuels for $18M and up to $35M in future payments tied to production volume.
- The deal would give REGI full ownership of Dynamic Fuels and its 75M gal/year nameplate capacity renewable diesel biorefinery in Geismar, La., which was the first large scale renewable diesel biorefinery built in the U.S.
- The deal is contingent upon the closing of REGI's 2013 Syntroleum (SYNM) acquisition; TSN and SYNM formed Dynamic Fuels in 2007 as a 50/50 joint venture.
May 7, 2014, 11:36 AM
- Amyris (AMRS -7.1%) falls sharply for a second straight day after StreetSweeper writes that the maker of renewable fuel compounds faces rough times ahead, citing "onerous deals, SEC filings and extreme insider selling."
- The pessimistic view comes ahead of Thursday's earnings report after the company reported worse-than-expected earnings numbers over each of the past five quarters.
- Combined with disappointing Q1 earnings from Renewable Energy Group (REGI -5.3%), several biofuel names are trading lower: CDTI -8.5%, SZYM -7.3%, KIOR -6.4%, SYNM -4.3%, BIOF -2%, FF -1.5%.
Apr. 17, 2014, 12:47 PM
Mar. 31, 2014, 3:59 PM
- Shares of BioFuel Energy (BIOF +132.4%) more than double after the company received a $275M buyout proposal late Friday from Greenlight Capital and James Brickman of JBGL Funds for the 64.5% of the company they don't already own.
- Greenlight's David Einhorn and Brickman said the proposal provides an opportunity to acquire an interest in a business with long-term equity potential and an attractive portfolio of assets.
- BIOF said its board will establish a special committee of independent directors to evaluate the transaction, as well as alternatives for the company.
- The move is providing a lift for most other alternative energy companies: KIOR +39.7%, GPRE +3.7%, REGI +4.4%, SYNM +5.9%, REX +0.1%, PEIX -1.9%, GEVO flat.
Dec. 18, 2013, 12:45 PM
Dec. 18, 2013, 9:10 AM
Dec. 17, 2013, 4:45 PM
- Renewable Energy (REGI) agrees to acquire Syntroleum (SYNM) for 3.796M shares of REGI, which would result in SYNM shareholders receiving 0.3809 shares of REGI common stock for each outstanding share of SYNM common stock.
- SYNM and its 50%-owned subsidiary Dynamic Fuels offer an attractive entry path for REGI into renewable diesel, REGI CEO Daniel Oh says.
- SYNM +50%, REGI +4% AH.
Dec. 11, 2013, 3:58 PM
- Shares of ethanol makers slide as an EPA official tells a congressional panel it’s not feasible for gasoline refiners to use as much ethanol next year as had been mandated, which is why the agency proposed easing the requirement.
- Producers of ethanol, biodiesel and advanced biofuels have criticized the EPA’s proposal, saying it undercuts a growing, domestic industry.
- ADM -1.5%, BIOF -3%, GPRE -3.8%, REGI -4.8%, SYNM -5.7%, PEIX -9.6%, KIOR -12.8%.
Aug. 6, 2013, 12:59 PM
- The EPA formally tells refiners to blend 16.55B gallons of renewable fuels to blend into the U.S. gasoline supply this year, and pares some targets the oil industry had criticized as too ambitious.
- Refiners must blend 1.28B gal. of biomass-based diesel and 2.75B gal. of advanced biofuels this year, along with 6M gal. of cellulosic biofuels made from non-edible plant parts - far less than the 14M target the EPA proposed in February but short of the oil industry’s push for the category to be zeroed out completely.
- After some initial reaction, most related stocks have returned to pre-announcement levels: PBF +8.6%, VLO +3.3%, HFC +2%, BIOF +1.8%, PEIX -4%, GPRE -3.2%, REX -6.6%, SYNM -4.3%, REGI -0.3%.
Jul. 26, 2013, 12:49 PM
Syntroleum (SYNM -0.8%) comes off a trading halt which followed news it has received unsolicited offers for a potential sale and has hired Piper Jaffray to evaluate interest. Given the favorable commercial environment, SYNM says now is an appropriate time to broadly review its strategic alternatives. Shares had been -9.5% when halted.| Jul. 26, 2013, 12:49 PM | 3 Comments
May 9, 2013, 9:41 AMSyntroleum (SYNM +6.5%) rises at the open, adding to yesterday's huge gains. The company says on its call that "market conditions favor restarting the idle Geismar plant." SYNM pegs mid to late July for the resumption of operations at the renewable fuels facility. (transcript) | May 9, 2013, 9:41 AM
May 8, 2013, 12:53 PM
Apr. 16, 2013, 12:59 PM
Mar. 15, 2013, 4:29 PMSyntroleum (SYNM): Q4 EPS of -$0.05 misses by $0.01. Revenue of $1.1M in-line. Shares -5.7% AH. (PR) | Mar. 15, 2013, 4:29 PM
Jan. 2, 2013, 10:12 AM
Sep. 21, 2012, 11:50 AMSyntroleum (SYNM +10.4%) pops after the U.S. Patent Office rejects all claims of a patent issued to Neste Oil relating to a fuel composition for diesel engines and granted SYNM's request for a reexamination of the patent as a whole. Neste originally filed suit against SYNM for patent infringement, but after further review, examiners have determined that the fuel composition as claimed would have been "obvious to one of ordinary skill in the art." | Sep. 21, 2012, 11:50 AM