Alternative fuels company ending all R&D, selling land
by Associated Press
Published: March 1,2013
Tags: Alternative energy, Closing, closure, energy, facility, green, land, plant, property, REFINERY, research and development, sale, sell, sustainable
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.
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March 1st, 2013 at 10:39 pm
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