Wednesday Edition

01.21.09

GLOBAL

Crude oil rose Wednesday as the US dollar retreated from its highest in six weeks against the euro, spurring investor demand for dollar-priced commodities, Bloomberg reports.

Soybeans advanced 0.6% Wednesday after losing 2.8% yesterday as the dollar’s rally stalled, boosting demand prospects for the crops for food, animal feed and alternative fuel, Bloomberg reports.

NORTH AMERICA

Virginia Gov. Tim Kaine is proposing that the state adopt a 2% biodiesel mandate. Two state legislators -- Rep. David Toscano and Sen. Mary Margaret Whipple -- already plan to introduce Kaine's proposal, OPIS reports.

Provista Renewable Fuels Marketing LLC of Minnesota has announced it will be known as CHS Renewable Fuels Marketing as of next month, following the purchase CHS made of US BioEnergy's 50% interest in Provista.

The Nebraska Department of Economic Development has awarded $83,000 in Value-Added Agriculture fund grants for two biodiesel-related projects, including Nebraska Renewable Energy Systems and Wayne State College.

Nova Biofuels’ 60 million gallon biodiesel plant in Seneca, IL and the 30 million gallon Prairie Pride, Inc. biodiesel refinery in Nevada, MO have met the NBB’s BQ-9000 quality assurance program.

California-based Flometrics, Inc. has successfully completed its first series of tests on a B100 powered rocket. The use of vegetable-based rocket fuel opens up the possibility of growing oil-producing crops on the moon or mars, eliminating the need of lifting the fuel from Earth.

Green Plains Renewable Energy has acquired majority interest in Houston-based biofuel terminal operator Blendstar, in which Green Plains acquired 51% of Blendstar from Bioverda US Holdings LLC for $9 million.

The San Diego, CA region is undertaking a broad initiative to accelerate algal biofuel technology by establishing a new organization, the San Diego Center for Algae-based Biofuels, to make sustainable algal biofuel production a reality in the next 5 to 10 years.

Colorado-based Range Fuels is receiving an $80 million loan from the USDA’s Biorefinery Assistance Program, the first to come from the program, to help bring the company's commercial- scale cellulosic ethanol plant in Georgia on line.

EUROPE

More German biodiesel plants face closure in 2009 following the government's decision to raise taxes January 1st on biodiesel and to scale back an increase in biofuel blending in fossil fuels.

France-based Proteus has announced an agreement with Syngenta to collaborate on the development of high performing enzymes for the conversion of biomass into biofuels.

ASIA / PACIFIC

India has ruled out import taxes on CPO as prices of domestic oilseeds stay above the assured rates the government pays farmers. India’s plans may also help CPO prices in Malaysia, after futures slid by half in the second half of 2008 as production exceeded demand.

The largest Superyacht Catamaran, the Cat 50, is being planned in Taiwan and will include a biodiesel-electric engine. The yacht aims to be carbon neutral with environmentally sustainable materials and a rain gutter to increase water storage.

AUSTRALIA

A new research project to develop microalgae as a biofuel feedstock will be unveiled in Australia on Wednesday. The project is being run by the Future Fuels Consortium.

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