The President has made green energy a staple of his plan to get people back to work in this country. According to a press release this morning, Global Clean Energy (OTC: GCEI) expects to help the President’s goal through a project that the company claims will create 20,000 jobs in the next two years. The business plan calls for Global Clean Energy to plant and harvest the Jatropha plant near abandoned landfills in addition to bringing other carbon based feedstock to gasification systems in the southern part of the United States. Funding for the project is expected to come from a combination of government grants and private financing.
Traders were either tired from yesterday, which saw the stock jump over 25%, or they reside in Missouri, because the news did little to stir the interest of buyers today. Shares of Global Clean Energy began the morning trading at the spot of yesterday’s closing price. The opening print of $0.14 also doubled as the intraday high. Sellers quickly got their hands dirty, digging in their pockets for shares to sell. The stock traded at its low for the day around lunchtime when traders exchanged shares for $0.11. The stock ended the day with a 17% loss to close down three pennies at $0.11. The number of shares traded amounted to over 1.5 million compared to the 312,000 shares seen on an average day. Traders will wonder tonight if today was merely a cleansing breath, or if buyers will need to see more before regaining their enthusiasm.
Global Clean Energy stock just began trading on the OTC markets one month ago. In the last 30 days, the stock has traded from just under $0.05 to high of $0.16 for a gain of over 200%. Today also marked the first significant down day for the stock since it started actively trading.
Other recent news on the company includes:
- On September 24, 2012, the company announced it had entered the final stages to acquire Houston Industrial Materials, which forms an integral part of the feedstock plan. Houston Industrial Materials has been involved in developing plans for transporting the Jatropha plant and other feedstocks.
- In a press release on September 19, 2012, the company said it established a Grants Division for the purpose of applying for and monitoring available government funds in Canada and the United States.
- Two weeks ago, Global Clean Energy unveiled its plan to build a waste-to-energy demonstration facility. The facility is part of a pilot program for the city of Salaberry-de-Valleyfield located in Quebec. The project is estimated to cost between $15 and $20 million dollars.
The Houston-based company develops and markets technology used to recover and reform environmental salvage into clean energy. Global Clean Energy has targeted industrial and municipal facilities that need onsite gas or electricity as its main focus. The company was founded in 1999.
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