Key Developments: BioFuel Energy Corp (BIOF.W)
4.41USD
24 May 2013
$-0.27 (-5.77%)
$4.68
$4.41
$4.41
$4.41
100
67
$10.34
$2.59
Latest Key Developments (Source: Significant Developments)
BioFuel Energy Corp Announces Workforce Reduction At Minnesota-DJ
Dow Jones reported that BioFuel Energy Corp announced that it has reduced staffing at its Fairmont, Minnesota ethanol facility, resulting in the elimination of approximately forty full-time positions. The plant ceased ethanol production in September of 2012, and will continue to operate its adjacent grain storage facility with its remaining employees. The Company now expects the Fairmont plant to remain idle until this year's harvest season. The Company reported that its second plant in Wood River, Nebraska continues normal operations with full staffing. Full Article
Gevo Inc and BioFuel Energy Corp. Announce Collaboration To Pursue Isobutanol Production
Gevo Inc Gevo Inc announced progress under a collaboration with BioFuel Energy Corp. to explore high-volume production of isobutanol. Although Gevo and Biofuel Energy signed a Development Agreement earlier this year, the companies only recently completed their preliminary evaluation of technical feasibility. The companies plan to continue working to develop production of isobutanol at an existing or future BioFuel plant. Specific objectives include a more rigorous assessment of technical feasibility and the development of timelines for engineering, regulatory approvals, financing and construction. The two companies will also explore the potential for seeking Advanced Biofuel status for isobutanol, which would allow domestic corn-based biofuels to compete more directly with biodiesel and imported ethanol produced from sugarcane. Full Article
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