Rentech Incorporated received $23 million from the DOE for a Colorado refinery for its green fuel technology in 2010. On Feb. 28, 2013, Rentech announced it will cease operations, reduce staff, and “mothball its research and development Product Demonstration Unit” at the site in Colorado.
This means the company will “eliminate 65 employee and contractor positions in [its] alternative energy segment during the first half of 2013.”
It also means Rentech will forego plans for an expansion into Nachez, Miss., and will sell the 450 acres it purchased there.
This is part of larger pattern for alternative fuel sites and companies into which our government has been dumping millions upon million of dollars for years, only to be disappointed by the end product.
Consider the the cellulosic ethanol facility launched under Gov. Jennifer Granholm (D-Mich.) in Alpena, Mich. in 2010. The federal government provided $18 million in funding for that facility, and the state of Mich. threw in another $4 million.
Read More at breitbart.com . By AWR Hawkins.