If Renewable Identification Numbers or RINs are not a part of your lexis, let me explain they are serial numbers signifying credits that are awarded when a gallon of renewable fuel is placed on the market. The serial number is tracked through the supply chain and ultimately used by consumers of fuel to prove they are in compliance with renewable fuel mandates. Once the renewable fuel is blended into gasoline, the credit is peeled away and can trade separately as an environmental credit.
Petrobras, SA has been a development partner over the last several years and has recently licensed Blue Sugars’ process. Petrobras plans to use the process in its sugarcane mills in Brazil. That spells new revenue for Blue Sugar as Petrobras ramps up production. Blue Sugar under its former name, KL Energy went private late in 2011 and no longer reports financial results to the SEC. The company reported $3.1 million in revenue in the first nine months of 2011 from engineering and product development services, but its operating loss was $5.2 million.