On Wednesday, Shares of ArcelorMittal (NYSE:MT), lost -3.47% to $8.90.
ArcelorMittal, the world`s leading steel and mining company, LanzaTech, the carbon recycling company, and Primetals Technologies, a leading technology and service provider to the iron and steel industry declared they have reached a letter of intent to construct Europe`s first-ever commercial scale production facility to create bioethanol from waste gases produced during the steelmaking process. The resulting bioethanol can cut greenhouse gas emissions by over 80 per cent contrast with conventional fossil fuels. It will predominantly be used in gasoline blending, but it can also be further processed into other products such as drop in jet fuel.
The 47,000 ton ethanol/annum project, sufficient to fuel half a million cars with ethanol blended gasoline, will demonstrate the added value of recycling waste streams, not only by reducing emissions at source, hence reducing ArcelorMittal`s direct carbon footprint, but by keeping fossil fuels in the ground through the production of commodity chemicals and fuels that would otherwise be made from oil.
About 50 per cent of the carbon used in the chemistry of steelmaking leaves the process as carbon monoxide. Recently, this waste gas stream is combusted as carbon dioxide and either flared or used to heat and power the steel mill. In either case, the resulting CO2 is emitted.
ArcelorMittal, together with its auxiliaries, operates as an integrated steel and mining company worldwide. The company operates through five segments: NAFTA; Europe; Brazil and Neighboring Countries (Brazil); Africa & Commonwealth of Independent States (ACIS); and Mining. It produces finished and semi-finished steel products.
Shares of Miller Energy Resources, Inc. (NYSE:MILL), skyrocketed 44.23% to $0.30, during its last trading session.
Miller Energy Resources, offered clarifying comments to declarations made in its press release dated July 14, 2015. The Company also offered an update on its on-going capital repositioning process in addition to its financial and operational position.
Miller Energy believes its assets have value that exceeds its debt and continue to offer noteworthy opportunities for growth. The Company does not intend, under current circumstances, to file for bankruptcy. Accounting convention requires that, under certain circumstances, publicly reporting companies must inform their investors that there may be substantial doubt about their ability to continue as a going concern. Accordingly, and consistent with that convention, under its current circumstances, the Company made such a statement.
Miller Energy Resources, Inc., an independent exploration and production company, explores for, develops, and operates oil and gas wells in south-central Alaska. As of April 30, 2014, the company owned about 315,913 net acres of leasehold interests, exploration license rights to an additional 108,673 net acres, and interests in 12 crude oil and 11 natural gas wells in Alaska. The company is headquartered in Knoxville, Tennessee.
Finally, Ares Capital Corporation (NASDAQ:ARCC), ended its last trade with -0.42% loss, and closed at $16.50.
Ares Capital Corporation, declared that it will report earnings for the second quarter ended June 30, 2015 on Tuesday, August 4, 2015 preceding to the opening of the Nasdaq Global Select Market. Ares Capital Corporation invites all interested persons to attend its webcast/conference call at 12:00 p.m. (Eastern Time) to talk about its second quarter 2015 financial results.
Ares Capital is a leading specialty finance company that provides one-stop debt and equity financing solutions to U.S. middle market companies, venture capital backed businesses and power generation projects.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.