Biofuels industry growing at 25 to 50 percent annually
Research and Markets has released its first Biofuels Production report. The industry includes about 200 companies with combined annual revenue of $3 billion. Most companies are under $10 milion in revenue, but major firms such as Archer Daniels Midland, Cargill, BP and Chevron are also listed. The report says biofuels is a young industry and is growing at a rate of 25 to 50 percent each year. It also sees new entrants coming in and frequent technology breakthroughs. With federal and state subsidies and loan guanrantees, there are few barriers to those entering the field. On a positive note, the reports sees strong demand based on new regulations that mandate a market for biofuels.
[Source: Business Wire]
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