Rentech Comments on EPA Diesel Emissions Rule
DENVER, Dec. 22 /PRNewswire/ -- Rentech, Inc. (Amex: RTK) today applauded the actions of President Clinton, authorizing new federal regulations requiring the nation's oil refineries to reduce the sulfur content of diesel fuel by 97% by 2006.
The Environmental Protection Agency (EPA) ruling eliminates 95% of smog-causing nitrogen oxides and 90% of small particulate matter soot from diesel emissions. By reducing these emissions, the EPA is hoping to prevent "... 8,300 deaths and 360,000 asthma attacks believed to be caused by these pollutants ..." as reported Thursday, December 21, 2000 in the Wall Street Journal.
Dennis L. Yakobson, chairman, president, and CEO of Rentech, commenting on the new regulations stated, "The new diesel fuel regulations will provide the impetus, not only for cleaner fuels from our nation's refiners but an incentive to implement clean fuels technologies such as Rentech's Gas-to- Liquids Process. Gas-to-Liquids fuels contain virtually no (non-detectable levels) sulfur and aromatics (which are cancer- causing agents). GTL fuels also have the required higher cetane index for diesel, which enhances performance as well as helps to reduce emissions further. As GTL diesel already meets the new criteria of the EPA for low sulfur diesel, Rentech believes GTL diesel can help the nation meet the new regulations by providing a base fuel as a blend stock or as a "straight use" or "neat" fuel. Add to this the fact that GTL fuels produced domestically have just received alternative fuel designation under the Energy Policy Act of 1992, and it appears the necessary criteria are in place to supply the United States with cleaner fuels."
Rentech's technology could also be key in refineries. Rentech's GTL technology can convert synthesis gas made from gasified refinery bottoms into sulfur- and aromatic-free diesel fuel. Refinery bottoms make up 10 to 20 percent of every barrel of oil and are considered a toxic waste. By using the Rentech process in this manner, a refiner could actually upgrade its product output and do away with its "bottoms," thus creating a "bottomless" refinery that produces fuels that meet the new EPA regulations. While only domestically produced GTL fuels made from natural gas were recently designated as an Alternative Fuel (AF), Rentech filed a request for rulemaking with the U.S. Department of Energy (DOE) over one year ago seeking to have GTL fuels made from other feedstocks, such as coal and refinery bottoms, designated as AFs (as well as GTL fuels made from natural gas). Rentech believes the recent legislative designation of natural gas-derived GTL fuels as AFs creates an important precedent that the DOE might consider in the requested rulemaking.
Rentech, Inc., incorporated in 1981, is the developer and licensor of a patented and proprietary Fischer-Tropsch, gas-to-liquids process, for conversion of synthesis gas made from natural gas, solid or liquid carbon bearing materials and certain industrial off-gas (IOG) into high value fuels, products and chemicals. These products include cleaner burning, sulfur- and aromatic-free diesel fuel, naphtha and waxes. Moreover, multiple studies indicate that Fischer-Tropsch diesel may be an ideal fuel for fuel cells.
Certain portions of this release may contain "forward-looking" statements as defined by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements herein. For more information concerning factors that could cause such a difference, see the Company's annual report on Form 10-KSB and quarterly reports on Form 10-QSB, filed with the Securities and Exchange Commission. Although Rentech believes its statements to be reasonable, investors are cautioned that such forward-looking statements involve risk and uncertainties. The company undertakes no obligation to publicly release the result of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
For more information please contact: Mark Koenig, Director of Investor Relations, Rentech, Inc. at 303-298-8008, or by E-mail at email@example.com, or see the Company's web site at www.rentechinc.com.
SOURCE Rentech, Inc.
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