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{{Moved #badges: Climate change |CoalSwarm}}{{Infobox Company| company_name = Rentech| company_logo = [[Image:Rentech.jpg|220px|center]]| company_type = Public (AMEX: RTK)| genre =| foundation =| founder =| dissolved =| location = 10877 Wilshire Blvd., Ste. 710<br>Los Angeles, CA 90024| locations =| area_served =| key_people = D. Hunt Ramsbottom Jr., CEO| industry = Synthetic Fuels Production| products = Synthetic Fuels| services =| revenue = $132.3 million (2007)<ref name="businessweek">[http://investing.businessweek.com/research/stocks/financials/financials.asp?symbol=RTK Rentech Inc.], BusinessWeek Company Insight Center, accessed July 2008.</ref>| operating_income = | company_slogan =| net_income = {{loss}} $91.7 million (2007)<ref name="businessweek"/>| assets =| num_employees = 290| parent =| equity =| owner =| divisions =| subsid =| homepage = [http://www.rentechinc.com/ RentechInc.com]| footnotes =}}'''Rentech Inc.''' (AMEX: RTK), based in Los Angeles, California, is a synthetic fuels ([[synfuels]]) technology and development company. It has developed and patented the Fischer-Tropsch gas/coal-to-liquids technology, which uses coal, petroleum coke, or natural gas to produce diesel or jet fuel.<ref name="Rentech_Website">[http://www.rentechinc.com/ Rentech website], accessed April 2008.</ref> It is currently attempting to GEMbuild several coal-to-liquids plants, despite having an abysmal financial track record. __TOC__{{Template:Violation_Tracker}}==Power portfolio== Rentech does not currently own any active power plants, nor does it plan to build any. The company is currently developing two coal-to-liquids facilities; it has no plans to build conventional power plants.<ref name="EIA">[http://www.eia.doe.gov/cneaf/electricity/epa/epat2p2.html Existing Electric Generating Units in the United States, 2005], Energy Information Administration, accessed April 2008.</ref> ==Corporate Earnings and Governance== In 2007, Rentech reported total operating revenues of $132.3 million; that year, the company lost $91.7 million (or $0.37 per share). As recently as 2004, Rentech had revenues of only $1.0 million, and losses of $7.1 million. The company’s revenues have grown sharply every year since, as have its losses. However, Rentech has had no problems attracting investment: 55.5% of the company’s shares are owned by institutional investors (an extremely high figure), including 13.9% by the [[Blackstone Group]] (owners of [[Sithe Global Power]], a leading coal power plant developer).<ref name="Rentech_BW">[http://investing.businessweek.com/businessweek/research/stocks/snapshot/snapshot.asp?capId=349443 Rentech Inc.], BusinessWeek Company Insight Center, accessed April 2008.</ref> In Nov. 2007, Sherwood Investments offered to buy out Rentech for $2.70 a share (far higher than its share value); in Jan. 2008, Rentech’s board decided not to sell the company, despite Rentech’s continued inabilities to turn a profit.<ref>[http://www.reuters.com/article/mergersNews/idUSN1950973720071119 “Rentech Gets $441 Million Offer From Investor”], ''Reuters'', Nov. 19, 2007.</ref><ref>[http://news.moneycentral.msn.com/ticker/article.aspx?Feed=BW&Date=20080111&ID=8027210&Symbol=US:RTK “Rentech Advises Sherwood Investments that its Board of Directors Does Not Intend to Engage in Sale Negotiations”], ''BusinessWire'', Jan. 11, 2008.</ref> [[Peabody Energy]], the world’s largest coal mining company, has also been a strong Rentech investor, pledging to invest $10 million in Rentech’s now-discontinued coal gasification plant in East Dubuque, IL.<ref>[http://www.marketwatch.com/news/story/peabody-energy-invest-rentech-fuel/story.aspx?guid=%7B2EE51200-D10B-4894-B9E8-D320362B3CAE%7D “Peabody Energy to Invest In Rentech Fuel Plant”], MarketWatch, May 29, 2007.</ref> Rentech’s CEO, D. Hunt Ramsbottom, earned $1.6 million in compensation in 2007. Rentech’s Board of Directors include:*Dennis Yakobson (Co-Founder of Rentech)*Michael Burke (CFO of [[AECOM]], a major defense contractor)*Dr. Ronald Sega (former Undersecretary of Defense and retired Air Force Reserve Major General)<ref name="Rentech_BW"/> ==Rentech's Coal-to-Liquids Projects== '''Active'''*The 25,000 barrels/day [[Belwood Coal-to-Liquids]] Plant in Natchez, MS, which would produce synthetic diesel from coal and petroleum coke (completion date: 2012). The project depends on $2.75 billion in state-issued bonds.<ref>[http://www.sierraclub.org/environmentallaw/coal/plantlist.asp "Stopping the Coal Rush"], Sierra Club website, accessed January 2008.</ref>*The 20,000 barrels/day [[Mingo Project]] coal-to-liquids plant in Mingo County, WV, which would produce liquid synfuels from coal and wood (completion date: 2012). In Sept. 2007, Rentech announced that the project would require federal funding in order to overcome reluctance amongst potential financiers.<ref>[http://www.statejournal.com/story.cfm?func=viewstory&storyid=28573 "Financing Questions Pose Problems for Coal-to-Liquids Projects,"] ''The State Journal'', September 6, 2007.</ref>'''Cancelled/Inactive'''*The 10,000 barrels/day [[Gillette Coal-to-Liquids Plant]] in Gillette, WY.*The [[Rentech Energy Midwest Corporation]] coal-to-liquids plant in East Dubuque, IL. ==Rentech and the Air Force== Beginning in late 2007, Rentech increasingly turned to the U.S. military for support. The U.S. Air Force, which spent $5.8 billion on fuel in 2007, is strongly pursuing a shift to synfuels; 6,000 aircraft are currently being retrofitted to be able to run on a 50-50 blend of synthetic fuel and traditional, petroleum-based jet fuel by 2011.<ref>[http://www2.ljworld.com/news/2008/mar/30/air_force_pushing_liquefied_coal_power_its_fleet/ "Air Force pushing for liquefied coal to power its fleet,"] Dave Montgomery, Lawrence Journal-World, 3/30/08</ref> In Dec. 2007, Rentech hired lobbying firm [[Brownstein Hyatt & Farber]], which will lobby the federal government to fund coal-to-liquids development.<ref>[http://news.moneycentral.msn.com/ticker/article.aspx?Feed=AP&Date=20080102&ID=7988281&Symbol=US:RTK "Rentech Hires Lobbying Firm,"] Associated Press, January 2, 2008.</ref> Also in December, Rentech appointed Dr. Ronald Sega to its board of directors. Sega headed the Air Force's energy strategy, and flew on the first Air Force jet powered by synthetic fuels in September 2006.<ref>[http://www.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20071218005311&newsLang=en "Rentech Announces Appointment of Former U.S. Air Force Under Secretary Ron Sega to Its Board of Directors,"] ''Business Wire'', December 18, 2007.</ref> ==Contact Details==Rentech Inc.<br>10877 Wilshire Blvd. Suite 710<br>Los Angeles, CA 90024<br>Phone: (310) 571-9800<br>Fax: (310) 571-9799<br>Website: http://www.rentechinc.com/ ==Articles and Resources=====References===<div class="references-small"><references/></div> ===Related SourceWatch Articles===*[[U.S. Air Force and Coal]]*[[Mississippi and coal]]*[[West Virginia and coal]]*[[United States and coal]]*[[Global warming]]*[[Michael S. Burke]] - director ===External Articles=== [[Category:Energy]][[Category:United States]][[Category:Corporations]][[Category:Climate change]][[Category:Synfuels]]
