Final round of fiscal year 2011 Renewable Energy for America Program awards has been announced by USDA on Dec. 14.
12 blender pump projects in eight states are included in the grand; 266 new blender pumps will be installed in 30 states.
This was the first year blender pump projects qualified for assistance through REAP. The agency determined in late last year that blender pumps, otherwise known as flexible fuel pumps, qualify for assistance under REAP and has since been focused on providing funding for those projects as part of a larger USDA initiative to establish 10,000 blender pumps throughout the U.S. within five years.
Secretary of Agriculture Tom Vilsack reiterated his agency’s commitment to renewable fuels and energy efficiency:
“Stable energy costs create an environment for job growth in rural America. Collectively, these REAP-funded projects announced today, and those announced earlier by USDA are expected to lower energy usage by 2 billion kilowatts and prevent nearly 2 million metric tons of emissions from being released into the environment.”
This grants are definitely a green light for Pacific Ethanol (PEIX) & Biofuel Energy (BIOF). Both stocks price has been declined for the last weeks due to the expiration of the Volumetric Ethanol Excise Tax Credit. Latest grants should bust BIOF & PEIX share price higher toward to the 2012.
BioFuel Energy Corp. (BIOF)
1600 Broadway, Suite 2200
Denver CO 80202
BioFuel Energy is a publicly traded company (NASDAQ: BIOF) whose goal is to become one of the leading ethanol producers in North America. Headquartered in Denver, Colorado, the company owns and operates two of the largest dry mill ethanol facilities in the United States. We produce 230 million gallons per year of fuel grade ethanol and 720,000 tons of distillers grains at these facilities and deliver these products to fuel blenders and agricultural users both locally and nationwide.
Pacific Ethanol Inc. (PEIX)
400 Capitol Mall
Sacramento, CA 95814
Phone: (916) 403-2123
Fax: (916) 446-3937
Pacific Ethanol Inc.‘s mission is to be the leading marketer and producer of low-carbon renewable fuels in the Western United States. Pacific Ethanol owns a 27% interest in and operates four ethanol plants in the Western United States with a combined operating capacity of 200 million gallons. Kinergy Marketing, a wholly owned PEI subsidiary, markets the ethanol from the Pacific Ethanol plants, three other plants in the Western United States and markets ethanol from the Midwest to its customers.