|By Marketwired .||
|January 4, 2013 08:21 AM EST||
NEW YORK, NY -- (Marketwire) -- 01/04/13 -- The Alternative Energy Industry received a major boost this week as a last-minute deal by law makers to avoid the "fiscal cliff," surprisingly included the extension of tax credits for renewable energy and alternative fuels. The PowerShares WilderHill Clean Energy ETF (PBW) has gained nearly 10 percent in the past week. Five Star Equities examines the outlook for companies in the Alternative Energy Industry and provides equity research on Amyris Inc. (NASDAQ: AMRS) and Solazyme Inc. (NASDAQ: SZYM)
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Congress has extended a $1 per gallon tax credit, which expired at the end of 2011, through the end of 2013. The National Biodiesel Board believes the tax credit will increase biodiesel production by approximately 300 million gallons in 2013. The approved deal also extends a $1.01/gal credit for cellulosic fuel, which are made from non-food organic materials, by one year. In September, the U.S. Environmental Protection Agency raised the amount of biodiesel refiners are required to blend to 1.28 billion gallons in 2013.
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Amyris is an integrated renewable products company focused on providing sustainable alternatives to a broad range of petroleum-sourced products. Amyris uses its industrial synthetic biology platform to convert plant sugars into a variety of hydrocarbon molecules -- flexible building blocks that can be used in a wide range of products. Shares of the company have rallied over 25 percent in the past week.
Solazyme is a renewable oil and bioproducts company that transforms a range of low-cost plant-based sugars into high-value oils. The company's tailored oils provide cost-effective, high-quality "drop-in" replacements for marine, motor vehicle, and jet fuels. Solazyme is initially targeting annual production of 20,000 metric tons of oil starting in early 2014 at their ADM facility.
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