Changing World Technologies IPO Scheduled For This Week

Feb 11 2009 | 6:59am ET

New York-based Changing World Technologies (CWT), a company that converts organic waste to diesel fuel oil, is scheduled to price its IPO on Wall Street this week.

The firm could raise as much as $42 million, if the price is at the high end of its $11 to $15 per share range.

CWT is backed by Apex Capital, ConAgra Foods and others. WR Hambrecht + Co. will serve as lead book-running manager for the share sale.

CWT has developed a non-combustion thermolytic depolymerization process for converting waste to fuel and fertilizers. The company’s Carthage, Missouri production facility currently has the capacity to convert 78,000 tons of animal and food processing waste into approximately four to nine million gallons of renewable diesel annually. This can be run as a straight, unblended low-sulfur fuel oil and is EPA-approved as a diesel-fuel additive. Full use as a transportation fuel would require upgrading.

The company has said it will use IPO proceeds for general corporate and working capital purposes. In its filing, CWT says it plans to establish additional facilities close to feedstock sources, initially converting 500 to 2,000 tons of waste per day, producing 13 million to 54 million gallons of biodiesel per year.


In Depth

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

Compelling Opportunities In The Alternatives Space

Jul 29 2014 | 9:33am ET

In an environment where many asset classes seem expensive by historical standards...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note