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Last update: 09.07.2011
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Despite IPOs, next-generation biofuels still creeping forward in 2011
Source : reuters.com
Despite a series of successful biofuel IPOs and more biofuel IPOs in the pipeline, along with U.S. government support and attention from incumbent oil makers, the production of next-gen biofuels, in any kind of volumes that would make a dent in the transportation sector, seems to be creeping very slowly forward. I know these things don't happen all that quickly, but they also seem to happen more slowly than some of these companies, government groups and investors initially anticipated. Amyris and Gevo, which both went public within the past year and a half, reported first quarter financials on Friday, and both are still in the early stages of production for biofuels. Amyris, which is a genetic engineering company that got its start developing bugs to turn sugar into anti-malarial drugs, reported first quarter revenue of $37.18 million, up from $13.66 million for the quarter the year earlier. Amyris' net loss for the quarter was $33.15 million, up significantly from $16.34 million for the year prior quarter.
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9 May 2011 |
Economy ::
Biofuels ::
United States & Canada
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Articles on the topic of biofuels (299 articles)
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