Biodiesel from turkey company Changing World Technologies files IPO

It seems that Changing World Technologies have finally solved the offal odor pollution problem at their turkey byproducts to biodiesel plant and are ready to begin bigger and better things. The company, which uses a thermal conversion process (TCP) to break down waste into fuel and organic fertilizer, wants to raise $100 million to fund an expansion and has filed an S1 with the U.S. Securities and Exchange Commission to begin the process. The allocation and price of shares in the IPO will be decided by an auction process handled by the offering underwriter, WR Hambrecht & Co, as well as other securities dealers. The company currently produces between 4 to 9 million gallons of biodiesel a year and could reach 54 million gallons a year with the expansion. Although it is currently selling its fuel to industrial boilers, it has been approved by the EPA for use a an additive in diesel. It will have to be improved somewhat to be considered for full use as a transportation fuel.

[Source: / Green Car Congress]

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