Q3 report shows continued improvement for Dynamic Fuels
Syntroleum Corp. recently issued its financial results for the third quarter of 2012. During a call to discuss the quarterly report, the company provided an update of Dynamic Fuels renewable diesel plant.
According to Edward Roth, Syntroleum president and CEO, Dynamic Fuels operated at 71 percent capacity during September and October, producing 8.8 million gallons of fuel. “This included production for a period of 52 consecutive days, representing one of our best performance periods to-date,” he said, noting that the facility continues to experience improved reliability.
Routine turnaround activities began on Oct. 25, during which time the plant changed its catalyst material and performed routine periodic maintenance. “In addition, we have completed installation of the feedstock pre-treatment upgrades,” Roth said, noting that commissioning was set to begin the week of Nov. 12.
Dynamic Fuels reported an operating loss of 71 cents per gallon and an operating cash loss of 59 cents per gallon for the quarter, while it produced 10.6 million gallons. This is an improvement over the previous quarter, during which the company reported a net operating loss of $1 per gallon and an operating cash loss of 72 cents per gallon for the production of 6.3 million gallons, Roth said.
According to Roth, Dynamic Fuels has also continued to expand its fleet customers. In addition to Norfolk Southern and Enterprise Rent-A-Car, we also sold renewable diesel to two additional railroads, a national retailer and a national chain of tractor-trailer travel, he said.