Renewable Energy Group Reports Third Quarter 2016 Financial Results

AMES, Iowa–(BUSINESS WIRE)–Renewable Energy Group, Inc. (“REG” or the “Company”) (NASDAQ:REGI) today announced its financial results for the third quarter ended September 30, 2016.

“REG Life Sciences delivered its first commercial product last week, our biomass-based diesel fleet is operating efficiently and profitably and REG Geismar is up and running well with no planned downtime for the remainder of the year. We believe we are positioned for a strong finish to the year.”

Revenues for the quarter were $624.6 million. The Company sold 163.1 million gallons of fuel. Compared to the third quarter of 2015, REG sold 36.0% more gallons of fuel resulting in an increase in revenue of 58.2%. Net income attributable to common stockholders was $22.9 million, compared to a net loss of $15.7 million in the third quarter of 2015.

Adjusted EBITDA for the quarter was $31.6 million. Results for the quarter include risk management gains of $5.9 million, which reflects the change in market value of various hedging instruments used to protect cash margins in the current and future periods. The risk management results were impacted by the increase in energy prices in the last week of September resulting from an announcement by OPEC of a purported reduction in output. Results for the quarter were also affected by reduced operating days at the Company’s Geismar facility, related to local area flooding in August and pulled forward scheduled maintenance from October to September.

Adjusted EBITDA in the third quarter of 2015 was $16.9 million. The prior year period Adjusted EBITDA includes $23.3 million of risk management gains, as well as an allocation of the benefit from the retroactive reinstatement of the 2015 Biodiesel Mixture Excise Tax Credit (BTC).

“We achieved solid growth in the third quarter with significant increases in gallons sold, gallons produced, revenue and adjusted EBITDA,” said REG President and CEO Daniel J. Oh. “REG Life Sciences delivered its first commercial product last week, our biomass-based diesel fleet is operating efficiently and profitably and REG Geismar is up and running well with no planned downtime for the remainder of the year. We believe we are positioned for a strong finish to the year.”

 

 

Industry study: Value of Iowa wind energy outweighs its costs

The wind resource in Iowa is so productive and the cost of wind energy has been falling so precipitously that the value of wind now far exceeds its cost there, according to an industry study released this week.

The analysis, conducted by the American Wind Energy Association at the request of the non-profit Wind Energy Foundation, also claims that doubling the state’s installed wind capacity would lower the cost of power so much that the typical residential customer’s monthly bill would fall, possibly by as much as $10.

Given that Iowa is a national leader in the development of wind energy, the study was intended “to spell out the benefits” of wind energy to consumers in the state, said Michael Goggin, the senior director of research for the American Wind Energy Association and the study’s lead researcher. With about 6,500 megawatts, Iowa ranks second nationwide for the amount of installed wind capacity, and first in terms of the proportion of its electricity derived from wind – about 35 percent at present.

Another 2,500 megawatts are under development, but,“there’s potential to do even more,” Goggin said. “As wind costs come down, I think it looks even more attractive to do more wind.”

A just-published survey of 163 of “the world’s foremost energy experts” seems to confirm that. Asked where they see the cost of wind energy headed, the group indicated that, on average, they expect it to fall by 24 percent by 2030, and by 35 percent by 2050. Some foresee a greater drop; others expect no change.

 

Read the entire story at: http://midwestenergynews.com/2016/10/20/industry-study-value-of-iowa-wind-energy-outweighs-its-costs/

 

Alliant Energy to advance wind project in Iowa

Alliant Energy is the parent company of two public utility companies--Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL)--and of Alliant Energy Resources, Inc. (AER), the parent company of Alliant Energy's non-regulated operations.

Customers and communities to benefit from low-cost, renewable energy

NEWS PROVIDED BY Alliant Energy Corporation  Oct 27, 2016, 16:30 ET

CEDAR RAPIDS, Iowa, Oct. 27, 2016 /PRNewswire/ — Alliant Energy’s Iowa utility is moving forward with its New Wind Project, which will bring up to 500 megawatts of new wind generation to Iowa. That’s enough to power 215,000 homes.

Alliant Energy is currently working with landowners in Franklin County near its existing Whispering Willow Wind Farm, as well as exploring opportunities to develop in other areas of the state. Construction could start as soon as next year. Alliant Energy expects to place 250 megawatts in service in 2019 and the rest in 2020.

“The New Wind Project will benefit our customers, our communities and the state,” said Doug Kopp, president of Alliant Energy’s Iowautility. “The wind turbines will generate clean, cost-effective energy for customers. They also create tax revenue for communities, and bring construction jobs and economic growth to the state, making this a win-win project.”

On October 25, the Iowa Utilities Board issued a final order regarding the New Wind Project. The order approves, with limited modifications, the settlement between Alliant Energy and customer groups, which was filed on October 12, 2016.

The New Wind Project will help the company economically meet its customers’ energy need, by maximizing the value of renewable energy tax credits and taking advantage of favorable wind turbine pricing.

“We want to thank our community partners in Franklin County. We also want to thank the Iowa Utilities Board for its work and the organizations that came together to advance this application toward approval. They include the Office of Consumer Advocate, the Iowa Business Energy Coalition, the Large Energy Group, the Iowa Environmental Council and the Environmental Law and Policy Center,” said Kopp. “Through our work together, we are helping to advance clean energy while providing low-cost, reliable energy solutions to our customers.”

More information is available at alliantenergy.com/whisperingwillow.

 

NASA Astronaut Peggy Whitson – From Beaconsfield, IA – Available for Interviews Before Space Station Launch


NEWS PROVIDED BY NASA Oct 20, 2016, 14:43 ET

WASHINGTON, Oct. 20, 2016 /PRNewswire-USNewswire/ — NASA astronaut Peggy Whitson will be available for live satellite interviews from the Gagarin Cosmonaut Training Center in Star City, Russia, on Thursday, Oct. 27, before her launch to the International Space Station. She will answer questions about her upcoming mission aboard the world-class orbiting laboratory from 7-8 a.m. EDT, airing live on NASA Television and streaming on the agency’s website.

Whitson, who considers Beaconsfield, Iowa, her hometown, is in Russia for final preparations prior to her launch on Nov. 15, U.S. time. The interviews will be preceded at 6:30 a.m. by 30 minutes of video clips highlighting her training.

To schedule an interview, media must contact Karen Svetaka at 281-483-8684 or karen.a.svetaka@nasa.gov no later than 4 p.m. onTuesday, Oct. 25. Media participating in the live shots must tune to NTV-3. Satellite tuning information is available at:

http://go.nasa.gov/1pOWUhR

Whitson will launch to the space station aboard a Soyuz spacecraft from the Baikonur Cosmodrome in Kazakhstan, along with her Expedition 50/51 crewmates, cosmonaut Oleg Novitskiy of the Russian space agency Roscosmos and astronaut Thomas Pesquet of ESA (European Space Agency).

During her stay in space, Whitson will become the first woman to have commanded the space station twice. During Expedition 16 in 2007, she became the first woman ever to command the station. That flight and her first mission to the space station, as a flight engineer for Expedition 5 in 2002, give her a current total of 377 days in space.

Whitson and her crewmates also will perform some 250 research investigations and technology demonstrations not possible on Earth. Among the experiments is Lighting Effects, which will investigate the impact of a new solid-state, light-emitting diode (LED) system on the crew’s circadian rhythms, sleep and cognitive performance. The Neutron Star Interior Composition Explorer (NICER) experiment is scheduled to arrive at the station during the crew’s stay and will examine the physics, nature and dynamics of neutron stars.

Whitson is scheduled to return to Earth with Novitskiy and Pesquet in May.

Check out the latest NASA TV schedule and video streaming information at:

http://www.nasa.gov/nasatv

Follow Whitson on social media at:

http://twitter.com/astropeggy

http://astropeggy.tumblr.com

http://www.facebook.com/NASAastronautPeggyWhitson

Logo – http://photos.prnewswire.com/prnh/20081007/38461LOGO

 

SOURCE NASA

Related Links

http://www.nasa.gov

Apply Today: DuPont Pioneer innovationIOWA LEADER of the Year Award

Submit your application for the Business Record’s third annual DuPont Pioneer innovationIOWA LEADER of the Year award. Past recipients include Harrisvaccines, Inc. and NewLink Genetics. The award recognizes an individual or organization for their originality, leadership, and impact on their company, state and local economy, and/or the general public through innovative concepts, processes, and/or products. Submit your application by emailing JasonSwanson@bpcdm.com 

Judging is based on the following:

  1. Originality of the innovation(s):  Is this a completely new concept/idea/process or the re-imagining of an existing one? Was it developed independently or in cooperation with others?
  2. Impact of the innovation(s):  Did this innovation meet an unmet need? How has it affected a specific industry and/or the public at large? If internal, what impact has it had on the processes and efficiencies of your organization?
  3. Commercial impact of the innovation(s):  Has the innovation gone to market? What financial evidence or market acceptance information does the innovation have to support new value for the end user? What is the quantifiable evidence of success?
  4. Culture of innovation:  Does the individual or company promote an atmosphere conducive to innovation? Have they consistently been a leader in their field when it comes to innovation?

The winner will be announced at the fourth annual innovationIOWA Magazine Launch Party presented by Iowa State University Office of Economic Development and Industry Relations and the College of Business on April 5th, 2017 from 5:00 – 7:00pm at the Iowa State University Economic Development Core Facility, 1805 Collaboration Place, Ames. There is NO RSVP is required and no charge to attend. Light food and coolants are provided. Don’t miss this incredible networking event where statewide key stakeholders mix and mingle. We look forward to seeing you there! For more information email KatherineHarrington@bpcdm.com or call her cell at 515-689-4447. 

2017 innovationIOWA Magazine Sponsors:

Presenting: Iowa State University Office of Economic Development and Industry Relations and the College of Business

Co-Sponsors: Danfoss, Zarley Law

Chapter Sponsors: John Deere, Kemin, Eurofins, Alliant Energy, Kent Corporation

2016 Launch Party Leaders In Attendance Included:
Kirk Bjorland
Iowa Innovation Corporation

Matt Busick
River Glen Private Capital

Jay Byers
Greater Des Moines Partnership

Michael Crum
Iowa State University

Dan Culhane
Ames Chamber of Commerce & Economic Development

Debi Durham
Iowa Economic Development Authority

Katherine Harrington
Business Record

Joe Hrdlicka
Iowa Biotech Association

Craig Ibsen
NextLevel Ventures

Kathryn Kunert
MidAmerican Energy

Steven Leath
Iowa State University

Anthony Paustian
DMACC

Mark Petri
Iowa Energy Center

Bob Riley
Feed Energy

Paul Schickler
DuPont Pioneer

David Spalding
Iowa State University

Steve Sukup
Sukup Manufacturing

Brian Waller
Technology Association of Iowa

Jeff Weld
Governor’s STEM Advisory Council

Brent Willett
Cultivation Corridor

Tim Zarley
Zarley Law

Doug Hundt
Vermeer

Matt Rizai
Workiva

… and many more!

ISU StartUp Factory companies hit $2M milestone

From The Business Record Daily PM Oct 14, 2017
Credit – Haila Architecture
Just 16 weeks into its 52-week program, the inaugural class at the ISU StartUp Factory has collectively raised $2 million in private capital, twice the $1 million goal set by the program for its startups to raise by the end of the yearlong program.
ISU President Steven Leath made the announcement during a grand opening reception held Thursday at the new Vermeer Applied Technology Hub, which is located at the ISU Research Park in Ames.
Read the entire story at http://www.BusinessRecord.com

Alliant to add $1 billion in wind energy

Business Record: BY PERRY BEEMAN | Senior Staff Writer | @PerrybeemanBR

Alliant Energy’s plan to add up to 500 megawatts of wind energy is a large play that will help keep Iowa’s electricity rates low, a key authority on clean energy said.

“Wind energy is now the lowest-cost source of new generation,” Nathaniel Baer, who follows energy issue for the Iowa Environmental Council, said in an interview. “That helps keep things stable and keeps rates low.”

“With both major utilities pursuing significant new wind generation, we have diverse wind energy that supports 6,000 jobs and 75 businesses in the supply chain,” Baer added.

Read the ENTIRE story at: http://www.BusinessRecord.com

 

SBDC state, regional offices move under one roof at ISU Research Park

From the Business Record Daily 6/30/16 http://www.BusinessRecord.com

America’s Small Business Development Center has moved its state office and ISU regional office to Iowa State University’s new Economic Development Core Facility at the ISU Research Park. The two offices are now at 1805 Collaboration Place, allowing for increased collaboration and effectiveness, the agency said in a release. “This move will allow us to pivot more quickly to the needs of entrepreneurs by increasing our access to partner resources,” said Lisa Shimkat, state director.   To read a Business Record article about the ISU Research Park expansion, click here.

Dream Big, THINK BIGGER conference for Iowa Entrepreneurial Women

 

The Iowa Innovation Corporation is sponsoring a series of one-day conferences, one in Iowa City and two in Ames. If you own a business, or have always dreamed of starting one, this is for you. They have added several new workshops and panels, covering the gamut. Just dreaming? There’s something for you. Need legal advice? There’s something for you. Financial advice? Yep.

Attend one day. Attend all three. It’s an investment in yourself. 

Check out this agenda! August 15 in Iowa City and August 16-17 in Ames.

 

Click here for More Information

 

Economic Development Board approves awards to support over $43 million in capital investments in Iowa

May 20, 2016 (DES MOINES, IA) – The Iowa Economic Development Authority (IEDA) board today awarded direct financial assistance and tax benefits to eight companies for job creation and expansion projects. These awards will assist in the creation of 1,275 jobs, retention of 53 jobs and will result in over $43 million in new capital investment for the state. The board also approved innovation funding for six startups.

The board approved assistance for planned or proposed projects located in Cedar Falls, Davenport, Des Moines, Dubuque, Fairfield, Iowa City, Keokuk, Sheldon and Waukee.

Read the entire list by visiting: http://www.iowaeconomicdevelopment.com/News