In Peru, Maple Energy is exploring various options for its ethanol business, including not re-starting after the 12-week maintenance period that began in August. The company received a loan waiver of five days from senior lenders on Nov. 25. It is dependent on those same lenders to provide working capital until an alternative funding arrangement […]
In Washington, Growth Energy participated in a market development mission with the U.S. Grains Council and the Renewable Fuels Association to explore export opportunities for U.S. ethanol in Panama and Peru. “The mission delegates met with a number of Peruvian government officials over the span of two days, and the access provided was impressive. Though […]
In Peru, Maple Energy has rejected the proposed $47.4 million offer from Graña y Montero SAA and Alcogroup SA because it says the companies didn’t provide sufficient proof that they could secure the needed finance in a timely enough manner, something the company’s senior lenders also found insufficient.
In Peru, Maple Energy has received an offer from Graña y Montero and Alcogroup for an initial $4 million to acquire an equity interest of 40% in The Maple Companies, Limited, the subsidiary dedicated to ethanol production and hydrocarbons operations, in which Maple has a 95.4% interest. The investors will commit to make a further […]
In Peru, shares of Maple Energy have plummeted following reports that a potential sale of the company has fallen through and that there are no current negotiations ongoing. The company also reported this week a net loss of $20.5 million for H1 this year compared to a net loss of $6 million last year.
In Peru, BP has announced an equity investment of an undisclosed amount in Pure Biofuels del Peru. Based in Lima, Pure Biofuels is a leader in the Peruvian refined fuels and distribution services markets. Pure Biofuels currently has over 1,000,000 barrels of liquid fuels storage at the Port of Callao, the largest port on the […]
In Peru, Maple Energy is still looking for a strategic investor, which it has been trying to do since Q1, and is negotiating with banks for gap funding in the meantime. In July the company received an offer for a complete takeover, which doubled the share price at the time, but has since fallen again […]
In Peru, Maple Energy is looking for new strategic equity investors to secure working capital for the business, but is also continuing to talk to lenders to keep the working capital flowing. It produced 10,793 cubic meters of ethanol during the first quarter of 2014 while 11,399 cubic meters was sold during that period to […]
In Peru, Petroperu is looking to buy two 100,000 barrel cargos of biodiesel at tender with delivery expected by June 6 at Talara, Conchan and Mollendo ports. Offers are welcomed until April 9. Biodiesel must include a maximum of 15 parts per million sulfur,
In Panama, the public is criticizing the president due to recent revelations regarding his family’s direct involvement in the development of a large-scale sugarcane ethanol project. The country has an ethanol blending mandate in effect since September 2013. The president countered by encouraging everyone to invest in ethanol production as a way to vitalize the […]
