Wildcatters: The New IPO fever…Who’s Next?
by Jim Lane (Biofuels Digest) …There has been, unsurprisingly, a ton of chatter about the sector, which escalated significantly last week with the PetroAlgae and Gevo announcements.
…The IPO is generally a liquidity event, providing lucrative exits for early investors. But like the railroads of the 19th century, the public markets have traditionally operated as a capital source that is tapped after private and government assistance is exhausted.
…The biofuels companies coming forward are early-to-middle stage: their shared goal is expansion capital, and though they are seen by many as a value-add play for agriculture, or as a technology play, these are best understood as above-ground oil fields, and as a proxy for oil exploration. The difference: the risk for these ventures is less in the geology than in the biology. It is not a question of finding and extracting reserves, as much as growing and extracting them.
…Our top ten considerations among biofuels companies for future IPOs:
1) Solazyme…
2) LS9…
3) Sapphire Energy…
4) REG…
…10) (tie) Imperium READ MORE
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