Nova Biosource Fuels, Inc. (OTC BB: NVBF.OB) will be moving its stock listing to the American Stock Exchange as of May 14. It will trade under the ticker, “NBF.”
In our opinion, Nova is one of best biofuel plays. We have written extensively about it in Progressive Investor.
This development stage company makes biodiesel from wastes such as grease and fat, with glycerin as a byproduct. Nova is currently building several plants with an expected capacity of 160-240 million gallons annually. The company has feedstock supply agreements in place. Using waste feedstock is not only more sustainable, it’s much cheaper than soy or corn. Since feedstock is the biggest cost in making biodiesel, that’s important.
The company raised $47 million through placement of common stock and warrants in late 2006.
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