|By Marketwired .||
|January 7, 2013 08:20 AM EST||
NEW YORK, NY -- (Marketwire) -- 01/07/13 -- 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 BioFuel Energy Corp. (NASDAQ: BIOF) and KiOR Inc. (NASDAQ: KIOR).
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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BioFuel Energy currently has two ethanol plants in the Midwestern Corn Belt. BioFuel Energy enjoys a strong commercial relationship with Cargill Inc., one of the world's leading agricultural corporations. The company produces 230 million gallons per year of fuel grade ethanol and 720,000 tons of distiller's grains from their two facilities.
KiOR is a next-generation renewable fuels company that has developed a proprietary technology platform to convert biomass into renewable crude oil. The renewable crude oil is processed using standard refinery equipment into gasoline, diesel and fuel oil blend stocks that are compatible with the existing fuel infrastructure. Shares of the company have surged over 12 percent in the past week.
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