Changing World to proceed with biofuels IPO; proceeds forecast reduced to $42 million

In New York, Changing World Technologies reduced its estimates of proceeds, but confirmed that it is moving ahead with a planned biofuels IPO. The company said that it expected to raise up to $42 million from an offering of 2.8 million shares at $11 to $15 per share. Proceeds would go towards funding two new biodiesel plants.

The company, which established a thermal process to convert animal and food waste into biodiesel and fertilizer, has a 9 Mgy capacity facility in Carthage, Missouri that yields 50 to 115 gallons per ton of waste depending on the feedstock.

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