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February 02, 1999 11:16
Rentech Sets Clean Air Agenda; Provides Near Term Solutions for
Legislators
DENVER, Feb. 2 /PRNewswire/ -- Rentech, Inc., (Nasdaq: RNTK) a Denver-
based developer, licensor and marketer of a patented and proprietary
process for the conversion of natural gas, refinery residues and other
carbon-bearing materials such as coal into valuable clean diesel and
other such transportation fuels, today announced its 1999 Clean Fuels
Agenda. (Rentech's process is a patented and proprietary version of the
venerable "Fischer- Tropsch" technology which has been known for over 70
years. The fuels made therefrom are referred to as "FT fuels." Rentech
recently licensed its technology to Texaco, Inc.)
During the last sixty days there has been a considerable amount of press
relating to the implementation of the Clean Air Act of 1990 ("CAA") and
the Energy Policy Act of 1992 ("EPACT") for the year 2000 and beyond.
The push by Federal, State and Local officials for compliance is
increasing. Under this continued governmental pressure, oil companies
and automobile manufacturers are accelerating their efforts to deliver
cleaner burning fuels and engines to the market.
During 1999 Rentech will pursue legislative and educational initiatives
to inform Federal, State and Local governments, agencies and officials
of the potential problem-solving qualities of its FT fuels. Rentech
believes its fuels exceed all current and proposed state and US diesel
emissions requirements including the more stringent requirements
promulgated by the California Air Resources Board (CARB).
Diesel fuel produced from the Fischer-Tropsch process is sulfur free,
aromatic free (devoid of cancer causing agents), burns with 80 to 90
percent less smoke then conventional diesel and reduces other harmful
emissions, such as carbon monoxide and nitrogen oxide, by a minimum of
12 to 15 percent compared to the "cleanest" conventional diesel, No. 1
diesel fuel.
F-T fuels are not new either. South Africa has produced them for more
than 30 years and while they were embargoed for their Apartheid
policies.
Controlled studies recently conducted by West Virginia University and
presented to the Society of Automotive Engineers (SAE) in October of
1998, using Fischer-Tropsch diesel manufactured in Shell Oil's Bintulu,
Malaysia Fischer-Tropsch plant confirmed substantial diesel emissions
reductions "both in nitrogen oxide (NOx) and particulate matter (PM),
carbon monoxide (CO), and hydrocarbons." The study (SAE 982526), was
conducted on "Seven 1992 and 1994 White-GMC class 8 heavy duty trucks
using Caterpillar 10.3 liter engines." The results, compared with
current conventional CARB diesel, showed reductions of 12 percent for
NOx, 18 percent for CO, 24 percent for particulate matter and 40% for
overall hydrocarbons emissions. West Virginia University did not alter
the engines in any way for the tests.
Rentech has received two patents for its F-T diesel fuel. Emission tests
conducted by Detroit Diesel and the CARB on the Rentech patented fuels
produced similar results to those obtained by West Virginia University.
When tested against No. 2 diesel fuel (not as clean as CARB diesel), the
results at high altitude indicated reductions of 35 percent in
particulate matter, 41 percent in CO and 53 percent in hydrocarbon
emissions.
Moreover unlike other so-called "alternative fuels" such as compressed
natural gas, Rentech believes its fuels can be used in conventional
internal combustion engines, without modification, and can be
manufactured by and distributed through the nation's existing refining
and transportation infrastructure thereby enabling municipalities to
achieve compliance with the provisions of the CAA and EPACT without the
expenditure of any money at all for the construction of specialized fuel
delivery "stations" or systems or the replacement or retrofitting of
existing transportation fleets.
Iron based Fischer-Tropsch processes such as Rentech's may also be used
to recycle harmful carbon emissions for coal-fired power facilities. New
Orleans-based investment banking firm Howard, Weil, Labouisse Friedrichs
pointed out the following scenario in a December 1998 report on Fischer-
Tropsch technology: The US could achieve 18% of its year 2010 target for
the reduction of carbon emissions pursuant to the Kyoto Protocol by
retrofitting the nation's coal-fired electrical generating plants to
"CoCo" plant design, which plants burn a combination of natural gas and
coal and produce Fischer- Tropsch fuels as well as electricity.
Rentech believes Fischer-Tropsch technology presents a solution to the
nation's (and the world's) clean air problems now, and more so, than any
other technology commercially available. Zero sulfur fuels;
significantly reduced NOx, Co, particulate matter, aromatics and
hydrocarbons; implementation within one year to 18 months; delivery
infrastructure for the fuels already in place; no changes to vehicle
engines or the vehicles themselves -- all of these are possible with FT
fuels.
Rentech believes that Fischer-Tropsch technology, can provide immediate
solutions to the world's pollution problems at the lowest cost. During
1999 and thereafter, Rentech will begin working on a non-partisan basis
with groups both locally and nationally. The Company will endeavor to
assist these groups in advancing legislation favoring Fischer-Tropsch
fuels programs. For instance, such legislation could take the form of
providing tax credits, more generous depreciation schedules, government
project funding or lender incentives. As always in the United States,
tough problems will be solved successfully by a partnership of private
sector interests and public sector effort and in setting its 1999 Clean
Air Agenda Rentech is committed to doing its part.
Certain portions of this release may contain forward looking statements.
These statements include, but are not limited to, statements related to
the Rentech Process and its fuel. When used in this document the words
"believes," "immediate," "similar" and similar expressions are intended
to be among statements that identify forward looking statements.
Although Rentech believes its statements to be reasonable there can be
no assurance that actual results will be consistent with these forward
looking statements. Success of commercial scale plants, long term fuel
usage, the price of oil, competition, as well as other risk factors
outlined in the company's filings with the Securities & Exchange
Commission could cause actual results to differ.
For more information please contact Mark Koenig, Director-Investor
Relations, Rentech, Inc., at (303) 298-8008 or E-Mail at
RNTK1331@aol.com or visit the Company's web site at
www.gastoliquids.com.
SOURCE Rentech, Inc.
/CONTACT: Mark Koenig, Director-Investor Relations, Rentech, Inc.,
303-298-8008 or RNTK1331@aol.com/
/Web site: gastoliquids.com
(RNTK)
