SOURCE: Five Star Equities
NEW YORK, NY--(Marketwire - Feb 5, 2013) - Shares of biofuel companies received a boost last week as the Environmental Protection Agency proposed to raise the renewable fuels mandate. Under the proposal, the mandate would increase 16.55 billion gallons of renewable fuels (roughly 9.6 percent on all fuel used in 2013), an 8.9 percent from 2012. Five Star Equities examines the outlook for companies in the Ethanol Industry and provides equity research on Amyris Inc. (NASDAQ: AMRS) and Gevo, Inc. (NASDAQ: GEVO).
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As part of the increase, refiners are required to purchase 2.75 billion gallons of advanced biofuels, and 14 million gallons of cellulosic biofuels. Cellulosic biofuels are fuels produced from scraps such as wood, grasses, or the inedible parts of plants. The previous mandate of advanced biofuels was 2 million gallons in 2012.
"The cellulosic biofuel industry is transitioning from research and development and pilot-scale to commercial scale facilities, leading to increases in production capacity," EPA said. "Construction has begun on several facilities with multiple facilities having progressed to the start-up phase."
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Amyris developed innovative microbial engineering and screening technologies that modify the way micro-organisms process sugars. The company is using its proprietary synthetic biology platform to design microbes, primarily yeast, and use them as living factories in established fermentation processes to convert plant-sourced sugars into renewable hydrocarbons. The company has recently shipped its first truckload of Biofene from its new plant in Brazil.
Gevo is a leading renewable chemicals and advanced biofuels company. The company is developing biobased alternatives to petroleum-based products using a combination of synthetic biology and chemistry. Last month Gevo's Board of Directors approved a stock repurchase program of up to $15,000,000 of its common stock. "This new stock repurchase program reflects our confidence in Gevo's future," said Patrick Gruber Ph.D., CEO of Gevo.
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