Investor liquidates 60% stake in Repreve Renewables as miscanthus fails to launch

In North Carolina, a yarn producer sold its 60% stake in Repreve Renewables, a company selling miscanthus seeds to farmers in order to boost biofuel production. The main market has, instead, been for poultry bedding due to the slow uptake of the crop for energy use. The company took a $1.66 million loss from selling its majority stake but removed $4 million in debt from its balance sheet so that it could focus on core business investments.