DENVER, Oct. 14 - Rentech, Inc (Amex: RTK) today announced that it completed the acquisition of a 50% membership interest in Sand Creek Energy, LLC (SCE) from RFC-Sand Creek Development, LLC (RFC), a subsidiary of Republic Financial, Inc., located in Aurora, Colorado. Rentech already owned the other 50% membership in SCE.
The $1.4 million purchase price of the transaction included the earnest payment of $50,000 which the company had paid to RFC in September. (For additional information on the transaction, please see Rentech's press release dated September 22, 2005 and Current Report on Form 8-K filed with the Securities and Exchange Commission dated September 16, 2005.)
President of Rentech, Inc., Hunt Ramsbottom, commenting on the completion of the purchase at Sand Creek, stated: "Rentech continues to take the steps necessary to keep its forward momentum and the company believes that its ownership of Sand Creek will play an instrumental role in the future. The site is well situated and provides the company with a strategically placed asset."
About Rentech, Inc.
Rentech, Inc., a Colorado corporation, formed in 1981, is the developer and licensor of a patented and proprietary Fischer-Tropsch gas-to-liquids/coal-to-liquids process for conversion of synthesis gas made from natural gas, industrial off-gas, or solid or liquid carbon-bearing materials, including coal, into high-value fuels and chemicals. These include clean burning, ultra-low-sulfur and ultra-low-aromatic fuels, naphtha, waxes and fuel for fuel cells.
Safe Harbor
Certain information included in this report and other reports or materials filed or to be filed by the company with the Securities and Exchange Commission (as well as information included in oral statements or other written statements made or to be made by the company or its management) contain or will contain "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, Section 27A of the Securities Act of 1933, as amended, and pursuant to the Private Securities Litigation Reform Act of 1995. The forward-looking statements may relate to financial results and plans for future business activities and are thus prospective. The forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by the forward-looking statements. They can be identified by the use of terminology such as "may," "will," "expect," "believe," "intend," "plan," "estimate," "anticipate," "should" and other comparable terms or the negative of them. You are cautioned that, while forward-looking statements reflect our good faith belief and best judgment based upon current information, they are not guarantees of future performance and are subject to known and unknown risks and uncertainties. Factors that could affect Rentech include, but are not limited to, market conditions especially demand for Rentech's fuels; the commercial success of Rentech's projects none of which are currently operating; Rentech's ability to secure agreements with potential developers or investors and their ability to obtain financing necessary to execute the company's plan for a projects including the Sand Creek PDU a decision by development parties to move forward with a specific commercial project that would license and utilize the Rentech Process technology; agreements with others related to proposed projects; the timing of potential projects; the performance of it fuels and technology; and the risk factors detailed from time to time in the company's periodic reports and registration statements filed with the Securities and Exchange Commission. Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995, and thus are current only as of the date made.
For more information please contact: Mark Koenig, Director of Investor Relations, Rentech, Inc. at 303-298-8008, extension 116, or by email at mkir@rentk.com, or see the company's website at: http://www.rentechinc.com; or Tony Schor, Investor Awareness, Inc. at 847-945-2222 or by email at tony@investorawareness.com.
