SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported): February 21, 1997
RENTECH, INC.
(Exact name of registrant as specified in charter)
Colorado 0-19260 84-0957421
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(State or other Commission I.R.S. Employer
jurisdiction of File No. Identification No.
incorporation or
organization)
1331 17th Street, Suite 720, Denver, Colorado 80202
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (303) 298-8008
Item 5. Other Events.
Rentech, Inc. is starting the commercial test phase of its
development of its Thermal Heat Engine in cooperation with ITN Energy
Systems, Inc. (ITN/ES). The Thermal Heat Engine was operated for the
first time on February 17, 1997.
The Thermal Heat Engine would be considered an important development
in technology and useful for developing nations that are in need of off-grid
power in remote areas. The Thermal Heat Engine developed by ITN/ES
converts the low-value energy contained in waste heated water to useful
mechanical energy. Among the uses for the engine are remote water
pumping for home use and agricultural irrigation. Of particular
significance is the ability of the engine to convert thermal waste energy
created in many manufacturing processes into usable power for internal
use on a cost effective basis. A Thermal Heat Engine is a lower cost,
less complex energy source than any other source currently available and
could provide low-cost and environmentally clean energy for lesser
developed countries.
If the development project remains on schedule, Rentech and ITN/ES
anticipate one 20-cycle Thermal Heat Engine will be available for bench
testing by the end of February 1997. A second 20-cycle engine and two
2-cycle demonstration units are expected to be available by the end of
March 1997.
Rentech believes the market potential for such engines is promising.
The proposed manufacturer and distributor in India for the Thermal Heat
Engine is Polyplex Corporation Limited of New Delhi. It has advised
ITN/ES that sales by Polyplex over five years in India alone could
approach one million units.
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If Rentech is able to obtain financing for the project, Rentech will
own 40% of this technology venture with ITN/ES.
Portions of this report may constitute forward-looking statements as
defined by federal law. Although the Company believes any such
statements are based on reasonable assumptions, there is no assurance
that actual outcomes will not be materially different. Additional
information about issues that could lead to material changes in
performance include failure of the technology to perform as expected,
unexpected delay in completing the project, inability to obtain funding,
failure to reach agreement with the proposed manufacturer and
distributor, lower than expected sales of any Thermal Heat Engine that
may be developed, or claims of patent infringement.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
RENTECH, INC.
(signature)
Date: February 21, 1997 By: --------------------------------------
James P. Samuels, Vice President -
Finance, Chief Financial Officer
