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Posts tagged “Verenium”

By Robert Rapier on Mar 26, 2009 with no responses

Aventine, Verenium on the Ropes

Reality is starting to catch up with prospective cellulosic ethanol producers. I felt like this was bound to happen, but the poor economy is making it happen faster than I expected. I expected some plants to be built, and then they would bleed red ink for a while before declaring bankruptcy. But many are running into trouble before breaking ground on a plant: Time Running Out For Aventine Late Monday, Aventine Renewable Energy Holdings (nyse: AVR – news – people ) announced it didn’t expect to have enough capital to cover an upcoming $15.0 million interest payment due April 1 on an outstanding senior unsecured 10.0% fixed-rate note or to pay $24.4 million due to its engineering and construction contractor,… Continue»