U.S. Securities and Exchange Commission
Washington, D.C. 20549
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) March 16, 2000
RENTECH, INC.
(Exact name of registrant as specified in its charter)
Colorado 0-19260 84-0957421
(State of incorporation) (Commission File Number) (IRS Employer
Identification No.)
1331 17th Street, Suite 720, Denver, Colorado 80202 80202
(Address of principal executive offices) (Zip Code)
(303) 298-8008
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Item 5. Other Events.
Rentech signed a Memorandum of Interest (MOI) on March 16, 2000 with
Texaco Energy Systems, Inc. (Texaco), a wholly-owned subsidiary of
Texaco, Inc. The MOI allows Texaco the exclusive right to evaluate and
potentially acquire up to one-half of Rentech's 50% interest in the Sand
Creek project. Negotiations for a definitive agreement with the terms
and conditions of Texaco's potential participation in the Sand Creek
project are being discussed. The MOI expires April 14, 2000 unless
extended by mutual agreement of the parties.
Rentech is developing a plan to convert the Sand Creek facility,
located in the Denver, Colorado metropolitan area, from a methanol plant
into a gas-to-liquids facility that produces liquid hydrocarbon products
and possibly electricity.
Rentech, incorporated in 1981, has developed and licenses its
patented and proprietary Fischer-Tropsch, gas-to-liquids process for
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converting synthesis gas made from natural gas or other carbon-bearing
materials into high value fuels, products and chemicals. These products
include cleaner burning, sulfur-free and aromatic-free diesel fuel,
naphtha and waxes. Fuels made from the Rentech process, when tested,
were shown to reduce emissions substantially more than current clean
fuels such as California Air Resource Board or "CARB" diesel, considered
the cleanest diesel fuel available today. Recent tests of GTL fuels,
such as those produced by use of the Rentech GTL technology, have
demonstrated that the fuel is an excellent feedstock for fuel cells
because of its high hydrogen and zero sulfur content.
Certain portions of this release may contain "forward-looking"
statements as defined by the safe harbor provisions of the Private
Securities Litigation Reform Acct of 1995 and within the meaning of
Section 27A of the Securities Act of 1934. Any number of important
factors could cause actual results to differ materially from those in the
forward-looking statements herein, including market acceptance of
Rentech's GTL technology, ability to economically construct, retrofit and
operate plants using the technology, and profitable marketing of the
liquid hydrocarbon products. For more information concerning factors
that could cause such a difference, see the Company's annual report on
Form 10-KSB and quarterly reports on Form 10-QSB, filed with the
Securities and Exchange Commission. Although Rentech believes its
statements to be reasonable, investors are cautioned that such
forward-looking statements involve risk and uncertainties. The company
undertakes no obligation to publicly release the result of any revisions
to any such forward-looking statements that may be made to reflect events
or circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
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.
By: (signature)
------------------------------------
Dennis L. Yakobson, President
Date: March 20, 2000
