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Renewable Energy and Alternative Fuels Stocks Rally as Deal to Avoid "Fiscal Cliff" Extends Industry Tax Credits
Five Star Equities Provides Stock Research on Renewable Energy Group and Gevo
By: Marketwired .
Jan. 4, 2013 08:20 AM
NEW YORK, NY -- (Marketwire) -- 01/04/13 -- The Alternative Energy Industry received a major boost this week as a last-minute deal by law makers to avoid the "fiscal cliff" surprisingly included the extension of tax credits for renewable energy and alternative fuels. The PowerShares WilderHill Clean Energy ETF (PBW) has gained nearly 10 percent in the past week. Five Star Equities examines the outlook for companies in the Alternative Energy Industry and provides equity research on Renewable Energy Group Inc. (NASDAQ: REGI) and Gevo, Inc. (NASDAQ: GEVO).
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Congress has extended a $1 per gallon tax credit, which expired at the end of 2011, through the end of 2013. The National Biodiesel Board believes the tax credit will increase biodiesel production by approximately 300 million gallons in 2013. The approved deal also extends a $1.01/gal credit for cellulosic fuel, which are made from non-food organic materials, by one year. In September, the U.S. Environmental Protection Agency raised the amount of biodiesel refiners are required to blend to 1.28 billion gallons in 2013.
Five Star Equities releases regular market updates on the Alternative Energy Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.FiveStarEquities.com and get exclusive access to our numerous stock reports and industry newsletters.
With more than 225 million gallons of owned/operated annual production capacity at bio-refineries across the country, Renewable Energy Group is a proven biodiesel partner in the distillate marketplace. "This tax credit provides certainty for our petroleum distributor customers and, in turn, market stability for commercial biodiesel producers like us," the company said in a statement. Shares of Renewable Energy Group have gained 20 percent in the past week.
Gevo is a leading renewable chemicals and next-generation biofuels company. Gevo's patent-protected, capital-light business model converts existing ethanol plants into bio-refineries to make isobutanol. The company's Board of Directors has recently approved a $15 million stock repurchase program.
Five Star Equities provides Market Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. Five Star Equities has not been compensated by any of the above-mentioned companies. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at: www.FiveStarEquities.com/disclaimer
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