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Last $0.0005 USD
Change Today 0.00 / -3.00%
Volume 17.2M
VGPR On Other Exchanges
As of 8:10 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

vega biofuels inc (VGPR) Snapshot

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vega biofuels inc (VGPR) Details

Vega Biofuels, Inc. engages in the production and sale of biofuel products. It produces Bio-coal from timber waste using torrefaction technology; and Biochar, an absorbent designed charcoal-type product primarily used as a soil enhancement for the agricultural industry to increase crop yields. The company was formerly known as Vega Promotional Systems, Inc. and changed its name to Vega Biofuels, Inc. in January 2010 to better reflect the business of the company. Vega Biofuels, Inc. was incorporated in 1986 and is based in Norcross, Georgia.

2 Employees
Last Reported Date: 05/2/12
Founded in 1986

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vega biofuels inc (VGPR) Key Developments

Vega Biofuels, Inc. Wins Order for 3,000 Tons of Bio Coal

Vega Biofuels, Inc. announced that the Company has placed an order for 3,000 tons of Bio-Coal for shipment to an international client. Production is scheduled to begin later this month. The deal is valued at approximately $600,000.

Vega Biofuels Enters Into Agreement with Vencor International, Inc. to Increase Bio-Coal Production Capacity to Meet Demand with Vencor International, Inc

Vega announced that it has entered into a joint venture to build and operate a manufacturing plant in Allandale, SC to produce a product called Bio-Coal. When completed, the manufacturing plant will use special torrefaction technology to produce the company's green-energy Bio-Coal product from timber waste that will then be sold to power companies around the world. Bio-Coal has a high energy density of up to 13,000 BTUs/Lb and is considered a renewable energy fuel that meets the Renewable Portfolio Standards and Renewable Energy Credits in the United States. The current production capacity for the company's Joint Venture facility in Allendale is not sufficient to meet the current demand for Vega's Bio-Coal. Therefore, the company entered into an agreement with Vencor International, Inc. that will provide Vega with the necessary product to meet the exceeding demand for its Bio-Coal. The agreement will allow Vega to begin filling orders prior to the completion of its Allendale facility. The agreement will continue to supplement the production capacity of the Allendale plant for the next five years. Torrefaction is a partial carbonization process that takes place at temperatures between 475 - 575 degrees in a low oxygen environment which makes the physical and energetic properties of the biomass much more comparable to traditional coal. The biomass is then compressed into briquettes called Bio-Coal to be sold to the end user. Torrefaction has the added benefit of reducing or eliminating undesirable volatiles, such as nitrous oxides and sulfur dioxides and is considered carbon neutral to the environment. Existing coal-fired power plants do not need to retrofit their existing plants to accommodate the torrefied Bio-Coal.

Vega Biofuels, Inc. Lays Out Construction Schedule for Pilot Torrefaction Plant

Vega Biofuels, Inc. announced that construction has started at the site of its Joint Venture with Agri-Tech Producers, LLC in Allendale, SC. Vega recently announced it has entered into the Joint Venture to build and operate a pilot manufacturing plant in Allendale, SC to produce Bio-Coal, among other torrefied products. When completed in First Quarter 2015, the plant will use a patented torrefaction technology to produce the Company's green-energy Bio-Coal product from plant and wood biomass, which will then be sold to power companies around the world. A clean and renewable alternative to traditional coal, Bio-Coal has a high energy density of up to 13,000 BTUs, and is a fuel that meets the EU's requirements and those of the Renewable Portfolio Standards and Renewable Energy Credits (RECs) in the United States. The Joint Venture, ATP-SC has leased a 15-acre site on which its operations will be located. Its sub-tenant, Statiol, SA, will also locate a pellet plant on the site, as a part of phase 1 site development, which includes Statiol's investment in shared infrastructure. Recent pictures show the portion of ATP-SC's site on which Statiol's construction has begun. ATP-SC's facilities are to be developed in phase 2 as Statiol completes its construction. In addition, Statiol's experienced management will be assisting ATP-SC's operations, including pelletizing some of ATP-SC's Bio-coal output.


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