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Ethanol Futures, Options Set on New York Exchange

Ethanol has come of age. Once considered an expensive experimental additive to make gasoline burn cleaner and more efficiently, it has become a staple like soybeans, eggs and pork bellies. So much so that the New York Board of Trade plans to introduce a futures contract for sugar-derived ethanol on Friday and an options contract next week. The Chicago Board of Trade plans to introduce a futures contract for corn-based ethanol late this year. Ethanol is an alcohol-based alternative fuel produced by fermenting and distilling starch crops, such as corn and sugar, which have been converted into simple sugars. Over 60 percent of the world's supply of ethanol is derived from sugar, with Brazil the industry's leading player. Domestically, ethanol has grown into a $4 billion to $5 billion industry that is expected to produce more than 3. 3 billion gallons this year, up from 2. 81 billion gallons last year. "The commodity is big enough and important enough in the economy that consumers and producers have come to us and asked us to develop a futures contract for this market," said David Lehman, managing director of business development for the CBOT. Futures trading in ethanol, derived in the U. […]

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Massachusetts to Exhaust SUV Fleet and Drive Cleaner Hybrids

The best political perk around – the gas-guzzling state-owned SUV – is about to bite the dust, under a sweeping global warming attack plan Gov. Mitt Romney's development chief is slated to release today. Once doled out as a trophy to politically connected public workers, all state-owned SUVs will now be phased out as their leases expire, said Commonwealth Development Deputy Secretary Gina McCarthy. In their place, the state plans to start snapping up fuel-efficient hybrid cars such as the Toyota Prius, which are smaller and use less gas by relying partly on electric power. Because SUVs keep getting bigger, the automobile sector is one of the few where greenhouse gas pollutants continue to rise, even as other sectors are clamping down, McCarthy said. “That's the one sector where we have the most difficulty on greenhouse gas reductions,'' McCarthy said. “You have to attack not just the transportation infrastructure, but also the vehicles themselves. '' Romney used to tool around in a massive Ford Expedition, but traded it for a sedan for “environmental reasons,'' an aide said. The SUV ban is just one recommendation among dozens that will be offered today, under a “Climate Protection Plan'' that's been the focal […]

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Medis Contracts to Mass-Produce Power-Pack Fuel Cell Units

Medis Technologies Ltd. (NASDAQ: MDTL) announced it has contracted with a top tier electronic manufacturer service firm to begin a commercialization program leading to high volume production of its Power Pack products. The program is divided into phases with the deliverables under the first phase to include mold flow analysis, volume manufacturing and test strategies, new product introduction plan, tooling phase proposal, and a low volume manufacturing proposal. The primary EMS point of contact initially will be its division in Israel supported by its world-wide resources. As Medis builds out its own operational team in North America, the EMS will match that with resources in appropriate locations. Moreover, as Medis' major OEM customers begin to engage in integrating Medis' fuel cell technology with PDA, tablet or military products, the EMS will provide resources from each of its operational centers specializing in such products to support Medis in these efforts. "We are delighted to enter this foundation relationship with Flextronics International to lead to volume production of our Power Pack products," said Robert K. Lifton, Chairman and CEO of Medis Technologies. "They are acknowledged to be the world leader in contract manufacturing and offer us production know how and experience at […]

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