Alternative fuels company ending all R&D, selling land
Published: March 1,2013
NATCHEZ — Rentech Inc. says it plans to mothball its alternative-energy product demonstration facility in Commerce City, Colo., and end all related research and development activities, which will mean cutting 65 employee and contractor positions by mid-year.
CEO D. Hunt Ramsbottom says the company intends to focus instead on opportunities for more immediate profitability.
Rentech says it will try to sell the Commerce City unit, plus 450 acres it acquired in Natchez for the development of an alternative energy facility.
It says closing the demonstration unit should reduce expenses related to its research activities, facilities and technologies to fall to about $10 million this year from about $21 million in 2012.
To sign up for Mississippi Business Daily Updates, click here.
One Response to “Alternative fuels company ending all R&D, selling land”
Top Posts & Pages
- WILLOUGHBY: Bernie Reed cites hard work as key to success of Reed’s Metals
- Analyst: KiOR Columbus plant may end up sold as scrap
- Gulf oil rig explosion kills one worker, injures three
- (UPDATE) Gov. Bryant: $1.2 billion aluminum plant is a very exciting proposition for the state of Mississippi
- Six out of eight universities could have higher tuitions in 2015
- Federal appeals court: State's abortion law is unconstitutional
- Humana and Bill, Hillary and Chelsea Clinton Foundation partnering
- Ex-MDEQ leader Fisher joins Butler Snow
- Can Metrocenter rise from the ashes? Again
- Former MDEQ Executive Director Trudy Fisher joins Butler Snow