Standard & Poor’s announced today that it has commenced Factual Stock Report coverage on Imperial Petroleum, Inc.
Imperial Petroleum, Inc. (OTC: IPMN) is a diversified energy company headquartered in Evansville, Indiana. The company engages in three principal areas of energy production: biodiesel and biofuels production, traditional oil and gas exploration and production, and non-traditional oil production of heavy oil from mineable tar sands.
On May 24, 2010, the company acquired e-Biofuels, LLC, an Indiana-based biodiesel producer. The company has expanded production capacity to approximately 30 million gallons per year. e-Biofuels uses waste greases and oils including premium white grease (chicken fat) as its primary feedstock for the production of its product. Biodiesel sales for the quarter ended April 30, 2011, were approximately $36.5 million on volumes of about 8.7 million gallons.
The primary feedstock used to make biodiesel at the e-Biofuels plant facility is premium white grease (chicken fat) which is purchased as needed from various suppliers in open-market transactions. Additional feedstocks that could be used, depending upon cost, include vegetable oils, mineral oils and animal oils and fats. Biodiesel is a petroleum diesel fuel substitute that has gained acceptance as a renewable alternative to regular petroleum diesel. In general, biodiesel is added to diesel in amounts ranging from 5% to 20% by volume, according to the company.
S&P Factual Stock Report coverage on Imperial Petroleum, Inc. will also be accessible on an ongoing basis to the investment community by scores of buy-side institutions and sell-side firms that utilize S&P research and information platforms daily. Millions of self-directed investors also have access to the report via their e-brokerage accounts
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