Rentech shares rally on US military purchase

By :SAN FRANCISCO (Reuters) - Shares of biofuel firm Rentech Inc (RTK.A) rose nearly 17 percent on Frida
Date posted :2009-08-21 15:21:00

The synthetic diesel produced by Rentech will be used to demonstrate the viability of such fuel for the U.S. military at the upcoming air show at the Selfridge Air National Guard Base, the company said.

Rentech did not disclose how much fuel it sold to the U.S. military.

The announcement follows an earlier sale of an undisclosed quantity of its synthetic jet fuel to the United States Air Force, which is testing the company's product as part of a program under which it plans to obtain half of its fuel from alternative sources by 2016.

Rentech shares closed 16.8 percent higher at $2.16 on the Nasdaq. Earlier in the session they were as high as $2.33, up 26 percent.

The company, whose major product is its synthetic aviation jet fuel, came into the spotlight recently after the fuel was certified for commercial aviation.

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