Why RTK is relevant discussion here: This is at rentechinc.com under press releases.
For Immediate Release
Date: March 31, 2000
Rentech, Inc. Signs MOU for Sand Creek
Fuel Cell Project
Denver, Colorado – Rentech, Inc. (Nasdaq OTC Bulletin Board: RNTK) today announced the signing of a memorandum of understanding with FuelCell Energy, Inc. (AMEX: FCL) to immediately begin a feasibility study for the siting of an up to 9,000 kW commercial scale fuel cell power plant at the Sand Creek Energy, LLC. (SCE) location in Commerce City, Colorado.
SCE is developing a plan to convert the existing methanol plant at Sand Creek into a gas-to-liquids facility capable of producing from eight hundred to one thousand barrels per day of high value fuels and products including clean burning sulfur and aromatic-free diesel fuel made from natural gas. Recent studies have found that the fuels made from GTL processes, such as Rentech’s, are also excellent feedstock fuels for fuel cells. GTL fuels contain no sulfur, aromatic compounds or metals which can contaminate a fuel cell stack. Furthermore, GTL fuels contain almost twice as much hydrogen as other potential liquid fuel cell feedstocks including methanol.
Rentech views Sand Creek as an initial showplace to demonstrate both Rentech’s GTL and FuelCell Energy’s fuel cell technologies at commercial scale. If the plant is completed, Sand Creek would be home to one of the largest commercial scale fuel cell power plants in the world. Rentech anticipates that the “GREEN” electricity generated from the fuel cell could be sold directly into the local power grid.
Rentech has identified market niches where the use of the sulfur-free GTL products produced by Rentech’s iron-based GTL technology as feed to FuelCell Energy’s fuel cells can provide clean power. This joining of the two technologies could be applicable where local conditions require little or no harmful emissions. Examples are hospitals, EPA-designated non-attainment areas and remote locations, “the island power concept,” i.e., areas where an adequate and reasonable cost supply of sulfur-free natural gas may not be available.
Rentech, Inc., Denver, Colorado, 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 into high value fuels, products and chemicals. These products include cleaner burning, sulfur and aromatic-free diesel fuel, naphtha and waxes.
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. These include obtaining financing for the project, the successful operation of the technologies and sales of electric power.
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 E-mail at mkir@rentk.com. |
