Los Angeles-Rentech Inc. reported a net loss of $6.9 million on sales of $50.4 million for the third quarter ending June 30, 2007, versus a year-ago loss of $12.0 million on revenues of only $17.3 million. Increased revenues were attributed to improved pricing and higher demand for nitrogen products. Rentech bought the former Royster-Clark East Dubuque nitrogen plant from Agrium Inc. in April 2006 and is in the process of converting it to run on coal gasification instead of natural gas. Rentech nine-month losses were $32.8 million on sales of $102.7 million, versus the year-ago loss of $30.2 million and sales of $17.4 million, respectively. In addition to East Dubuque, Rentech is involved in other gasification-related projects. “According to the EIA, worldwide demand for fuel is expected to increase by over 40 percent from 2004 to 2030 while supply decreases,” said Rentech President and CEO Hunt Ramsbottom. “Rentech intends to help address this problem by domestically producing large quantities of FT (Fischer-Tropsch) fuels through the use of its technology in an environmentally sound way.”
Transparency Across the Fertilizer Value-Chain