Rentech Receives Final Air Permit for its Port St. Joe Renewable Energy Project
July 13 2011 - 9:00AM
Business Wire
Rentech, Inc. (NYSE AMEX: RTK) announced today that it has
received the final air permit for the Company’s proposed Port St.
Joe Renewable Energy Center (Port St. Joe Project).
The Port St. Joe Project has been issued the final air permit
from the Florida Department of Environmental Protection and has
received all significant permits from the State to allow start of
construction of the planned project.
The project is designed to be the world’s first Biomass
Integrated Gasification Combined Cycle (BIGCC) project using the
Rentech-SilvaGas biomass gasifier to provide synthesis gas to an
advanced high efficiency combined-cycle power plant to produce
approximately 55 megawatts net of renewable low-carbon baseload
electric power (RenPowerTM) from approximately 930 dry tons per day
of woody biomass. The project has a Power Purchase Agreement with
Progress Energy of Florida which has been approved by the Florida
Public Service Commission.
Rentech has signed a detailed term sheet with White Construction
for the engineering, procurement and construction (EPC) work that
is intended to serve as a basis for a definitive lump-sum turn-key
EPC contract. White Construction and Ford, Bacon & Davis LLC
are finalizing the engineering work necessary to enter the EPC
phase of the project. The proposed project site in Northwest
Florida has access to barge, rail and highways as well as close
proximity to feedstock.
About Rentech, Inc.
Rentech, Inc. (www.rentechinc.com), incorporated in 1981,
provides clean energy solutions. The Company's Rentech-SilvaGas and
Rentech-ClearFuels biomass gasification processes can convert
multiple cellulosic biomass feedstocks into synthesis gas (syngas)
for production of renewable fuels and power. Combining the
gasification processes with Rentech's unique application of syngas
conditioning and clean-up technology and the patented Rentech
Process based on Fischer-Tropsch chemistry, Rentech offers an
integrated solution for production of synthetic fuels from
cellulosic biomass. The Rentech Process can also convert syngas
from fossil resources into ultra-clean synthetic jet and diesel
fuels, specialty waxes, and chemicals. Final product upgrading and
acid gas removal technologies are provided under an alliance with
UOP, a Honeywell company. Rentech develops projects and offers
licenses for these technologies for application in synthetic fuels
and power facilities worldwide. Rentech Energy Midwest Corporation,
the Company's wholly-owned subsidiary, manufactures and sells
nitrogen fertilizer products including ammonia, urea ammonia
nitrate, urea granule, and urea solution in the corn-belt region of
the central United States.
Safe Harbor Statement
This press release contains forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995
about matters such as the characteristics of the renewable power to
be produced from Rentech's technologies, the Company's development
of its proposed renewable energy facility in Port St. Joe, Florida,
and the timing and finalizing of satisfactory commercial agreements
related to the project. These statements are based on management's
current expectations and actual results may differ materially as a
result of various risks and uncertainties. Other factors that could
cause actual results to differ from those reflected in the
forward-looking statements include the financial means of Rentech
to build the proposed Port St. Joe project, fluctuations in
commodities prices including the price of electric power and the
materials necessary to construct projects, the impact of changing
government regulations on the project permitting process and the
qualification of renewable power and factors set forth in the
Company's press releases and periodic public filings with the
Securities and Exchange Commission, which are available via
Rentech's web site at www.rentechinc.com. The forward-looking statements
in this press release are made as of the date of this release, and
Rentech does not undertake to revise or update these
forward-looking statements, except to the extent that it is
required to do so under applicable law.
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