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VeraSun Energy Announces Q4, 2006 Financial Results

VeraSun Energy Corporation (NYSE: VSE), a leading producer of ethanol, announced its financial results for the three months and year ended December 31, 2006. “We are pleased to announce another strong quarter and a solid year. 2006 included significant milestones for the Company as we recorded more than $550 million of revenues in our fourth year of operations and nearly doubled our production capacity,” said Don Endres, CEO and Chairman of VeraSun. “In the fourth quarter, we produced 59.6 million gallons of ethanol – our highest level of output to date at approximately 103 percent of nameplate capacity,” said Endres. Net income $75.7 million, or $1.03 per diluted share, for 2006 and $21.4 million, or $0.27 per diluted share, for the fourth quarter of 2006. Cash on hand at the end of 2006 was $362.3 million, including $44.3 million of restricted cash for the construction of the Charles City, Iowa, production facility. Fiscal Year 2006 Financial Highlights: Revenues grew to $557.8 million for the year, an increase of $321.4 million, or 136% from 2005. This growth was the result of the sale of 98.2 million additional gallons in 2006, as well as a price improvement of $0.59 per gallon from […]

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Global Green Acquires Greensteam Development

Global Green Solutions Inc.(GGRN.OB), a developer of ecotechnology solutions for renewable energy and greenhouse gas reduction, has completed its acquisition agreement with Greensteam Development Inc. The new business, Global Greensteam LLC, a joint venture with ITS Engineered Systems and The Onix Corporation, will convert waste biomass into low cost steam for industrial applications. Global Greensteam will reduce steam generation energy costs up to 30 percent less than natural gas-fueled steam. Waste biomass will be converted to steam using a low-polluting cyclonic solid fuel burner. The burner is incredibly efficient and releases minimal carbon dioxide and nitrous oxide, and virtually no sulfur, into the atmosphere. Currently, the waste biomass is clogging landfills or burned at the production site, contributing to air pollution. With Global Greensteam, a virtually unlimited supply of waste biomass will be transformed into renewable fuel. The company will design, build, own and operate the steam generation units. Global Greensteam will retrofit or replace a customer’s current steam generators at the customer site and can assume responsibility for steam generation operations. This outsourcing of steam generation will allow customers to concentrate on their primary businesses by eliminating their involvement with the steam generation process. Global Greensteam and Aera Energy […]

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