Rentech, Inc. Engages The Abraham Group02/15/06
Former US Energy Secretary Spencer Abraham to Advise on Coal-to-Liquids Initiatives
Denver Colorado - Rentech, Inc. (AMEX:RTK) announced today that it has engaged former U.S. Energy Secretary Spencer Abraham's consulting firm, The Abraham Group, LLC, to provide strategic advice and assistance to the company on its domestic coal-to-liquids (CTL) initiatives.
"The future of United States energy policy is dependent on deploying innovative technologies on coal, our country's greatest energy resource, in a clean and responsible manner," said Mr. Abraham, Chairman & CEO of The Abraham Group, LLC. "Rentech's proprietary coal-to-liquids technology, gives us the opportunity to utilize coal to produce ultra-clean fuels for the nation while protecting the environment and creating jobs."
Rentech is seeking to obtain federal loan guarantees authorized in the 2005 energy law for the construction of commercial CTL plants in the United States. "The application of Fischer-Tropsch (FT) coal-to-liquids technologies, like Rentech's, could be an essential tool in President Bush's new Advanced Energy Initiative, to reduce America's dependence on imported oil," stated Mr. Abraham.
Rentech's FT coal-to-liquids technology utilizes the process of converting synthesis gas (a combination of hydrogen and carbon monoxide) made from coal, or petroleum coke from gasification technology. The harmful pollutants in the coal are sequestered from the environment in the gasification step. The synthesis gas is then sent to the Rentech FT reactor where it passes over a patented catalyst and is converted into ultra-clean fuels that have a very low sulfur content, less than one part per million, and are biodegradable.
The Abraham Group, LLC, is a Washington, D.C. based international strategic consulting firm that specializes in assisting clients seeking opportunities in the energy sector. The firm's Chairman & CEO, Mr. Abraham, served as U.S. Secretary of Energy from 2001 to 2005 and as a U.S. Senator from 1995 to 2001. His partners include Joseph McMonigle, the firm's president, who was former Chief of Staff at the U.S. Department of Energy and Vice Chairman of the International Energy Agency Board of Governors; and, Majida Mourad, the firm's Vice President, who served as Senior Advisor to the Secretary as a lead Department representative on international energy matters.
About Rentech, Inc.
Rentech, Inc., a Colorado corporation formed in 1981, develops technology and projects to transform underutilized hydrocarbon resources into valuable alternative fuels and clean chemicals. To execute this strategy it utilizes its patented and proprietary Fischer-Tropsch gas-to-liquids/coal-to-liquids process for conversion of synthesis gas made from natural gas, coal and other solid or liquid carbon-bearing materials clean burning, ultra-low-sulfur and ultra-low-aromatic fuels (beyond detectable limits), naphtha, waxes, and fuel for fuel cells.