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) September 12, 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 has completed the basic engineering and design work to
retrofit the Sand Creek plant located in Commerce City, Colorado, in
which it owns a 50% interest. Rentech intends to convert this methanol
plant into the first modern gas-to-liquids facility in the United States.
Rentech has started the process of applying for air emissions
permits and planning other pre-construction work. It expects this phase
of the retrofitting project will take from two to six months.
When the air permits are obtained, Rentech expects to begin
construction to retrofit the Sand Creek Plant into a gas-to-liquids (GTL)
facility designed to produce commercial quantities of GTL products. The
products will be ultra-clean, and will include the country's first
sulfur-free and aromatic-free GTL diesel fuels. Rentech anticipates that
the Sand Creek plant could be ready for commercial production by the
first quarter of 2002.
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Rentech believes that its concept of purchasing and retrofitting
mothballed methanol plants for GTL production will prove to be a
cost-effective method to produce GTL products in the United States.
Rentech anticipates that the cost of converting existing methanol plants
to use gas-to-liquids processes will be less expensive than building
entirely new plants for this purpose. This is because methanol plants
that can no longer economically produce methanol, or are only marginally
economic, due to the depressed market for that product, can provide the
site and approximately 60% of the equipment necessary for a GTL facility
at a cost less than for new development of the facility. The useable
assets can be readily incorporated into a plant that uses Rentech's
Fischer-Tropsch processes to produce GTL products.
The Environmental Protection Agency has required that the sulfur
content of diesel fuel produced by conventional means and used in the
U.S. must be reduced from the current average of 500 parts per million to
only 15 parts per million by April 1, 2006, a 97% reduction. Rentech's
synthetic diesel fuel is sulfur-free.
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)
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Dennis L. Yakobson, President
Date: September 12, 2000
