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 Renewable Energy Group Inc. (NASDAQ: REGI) and Solazyme Inc. (NASDAQ: SZYM).
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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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Renewable Energy Group is a leading North American biodiesel producer with a nationwide distribution and logistics system. Utilizing an integrated value chain model, Renewable Energy Group is focused on converting natural fats, oils and greases into advanced biofuels. The company in November inked distribution deals for four New York metropolitan terminal locations.
Solazyme is a renewable oil and bioproducts company that transforms a range of low-cost plant-based sugars into high-value oils. The company's renewable products can replace or enhance oils derived from the world's three existing sources - petroleum, plants and animal fats. The company's joint venture with Bunge Global Innovation LLC, Solazyme Bunge Renewable Oils, has recently received funding approval from the Brazilian Development Bank.
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