Raptor Techonology Group (OTC:RAPT)
posted by World Business & Personal Views @ 6:47am, Friday 18 February 2011.
Raptor Technology Group Inc. (OTC: RAPT) yesterday announced that Raptor Fabrication & Equipment is involved in an advanced algae-based jet fuel project. Raptor Technology is in the process of acquiring Raptor Fabrication and Equipment. The news fueled a rally in today’s trading as shares gained less than 1% to close at $0.74.
The company said that Raptor Fabrication is an instrumental sub-contractor in a project financed by the Defense Advanced Research Projects Agency, which is part of the Department of Defense. The project aims to produce a $3 per gallon cost for algae derived JP-8 jet fuel and develop a scalable process for cost effective and large-scale production of algae based fuels.
Earlier this week Raptor also announced the acquisition of assets and contracts of American Grease LLC, which is engaged in the collection and brokerage of more than four million gallons of waste vegetable oil per year. Tom Gleason, president of Raptor, said that this strategic acquisition enables the company to guarantee its biodiesel plant customers a consistent supply of feedstock to keep their production at maximum levels.
Also this week, Raptor issued comments on the December 2010 extension of the biodiesel blenders tax credit. Gleason said that the company feels that the reinstatement of the $1 biodiesel tax credit will have a direct impact on the company’s biodiesel plant sales for 2011.
The series of recent announcements resulted in huge interest in the penny stock of Raptor Technology. In the last five trading sessions, the stock gained 247.62%. In today’s trading, the stock is down 1.35% to $0.730 on above average volume of 2.71 million. The stock has a 52-week range of $0.10-40.90.
Raptor Technology is seeking to become a leader in the biofuel and mining industries with its advanced proprietary biofuel production technology and mineral recovery technologies.
Comments
Submit Your Comment
You are not logged in.