Thursday, February 28, 2013
Rentech Chops 65, Shuts Alternative Energy R&D Unit
Los Angeles-based Rentech, a developer of clean energy and synthetic fuels technology, said this morning that it will eliminate 65 employees and contractors as its alternative energy segment, close its R&D unit in Commerce City, CO, and attempt to sell its facilities there along with land in Natchez, MS. Rentech said the move comes as it seeks to focus on more immediate growth opportunities in the energy industry which do not rely on new technology. The firm's units had been focused on biomass gasification and synthetic and renewable fuels and renewable power. Rentech's primary business is manufacturing nitrogen fertilizer.