WESTON, FL -- (MARKET WIRE) -- 07/29/08 -- Wall Street News Alert's "stocks to watch" this morning are: CleanTech Biofuels, Inc. (OTCBB: CLTH), Applied Materials, Inc. (NASDAQ: AMAT), ConocoPhillips (NYSE: COP) and Chevron Corporation (NYSE: CVX).
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There is important breaking news coming from CleanTech Biofuels, Inc. (OTCBB: CLTH), and the company should have investors monitoring the stock closely. Yesterday after the markets closed, the company issued a press release announcing that it intends to use its proprietary technology at a commercial site in Chicago, Illinois, to produce cellulosic biomass as solid fuel for the production of electricity.
Great news for the company, as the press release states that beginning commercial production of biomass for electricity will allow CleanTech to develop significant revenue more quickly than originally anticipated! Tests on the feasibility of using the biomass from CleanTech's processes for electricity production indicated that the energy value (or Btu value) is approximately 75 percent that of coal. Testing also indicates that the biomass has substantially less pollutants in emissions from combustion than other refuse derived fuels and coal.
CleanTech believes that this approach will dramatically lower the cost of its first commercial ethanol plant. By using the infrastructure it constructs for electricity production to support cellulosic ethanol production at the same site in the future, CleanTech believes that it will be able to incrementally increase the amount of MSW processed at the site daily to support both operations.
"We look at the application of biomass co-fired with coal as the low hanging fruit that can be done commercially right now," CleanTech CEO Ed Hennessey said. "Coal prices have increased dramatically in recent years and that has increased the value of the energy content in our biomass." Hennessey further added, "We are looking to develop a plant in Chicago using the biomass as solid fuel to produce electricity with traditional debt and bond financing to fund a significant part of the development costs. When our cellulosic ethanol conversion technology is ready for commercial implementation, we hope to use the infrastructure at the existing plant to add a cellulosic conversion plant to the same site."
Investors are urged to continue to monitor the progress of the company!
Before the news was released, the stock closed Monday at $1.01 a share.
For Wall Street News Alert's in-depth profile of CleanTech Biofuels, visit http://www.WallStreetNewsAlert.com/HotStocks/CLTH072808/default.aspx.
Applied Materials, Inc. (NASDAQ: AMAT) down 1.8% on 16.3 million shares traded.
Applied Materials, Inc. is the global leader in Nanomanufacturing Technology(TM) solutions with a broad portfolio of innovative equipment, service and software products for the fabrication of semiconductor chips, flat panel displays, solar photovoltaic cells, flexible electronics and energy efficient glass.
ConocoPhillips (NYSE: COP) up 0.3% on 11 million shares traded.
ConocoPhillips is an integrated petroleum company with interests around the world.
Chevron Corporation (NYSE: CVX) down 0.08% on 10.9 million shares traded.
Chevron Corporation is one of the world's leading integrated energy companies, with subsidiaries that conduct business.
"Oil news: Prices were up on Monday, after militants attacked a pipeline in Nigeria, and Iran claimed that it had doubled the size of its nuclear program, but signaled a willingness to work with the U.S. Light, sweet crude for September delivery rose $1.39 to $124.65 a barrel in afternoon trading on the New York Mercantile Exchange after fluctuating between gains and losses earlier in the day," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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