CTL/GTL Partners Dissolve Joint Venture
13 January 2006
Rentech and Headwaters Technology Innovation Group, a wholly-owned subsidiary of Headwaters Incorporated, have dissolved their 50/50 joint venture named FT Solutions, LLC.
They formed the joint venture in June 2004 to combine each company’s respective iron-based Fischer-Tropsch gas-to-liquids technologies for use in global Headwaters projects and for all Headwaters and Rentech projects in China.
The terms of the dissolution include the termination of all FT Solutions-related agreements. Each company will retreive its own technology and derivatives.
Rentech stated that both companies had an excellent working relationship during the course of the venture but cited a variance in overall business plan objectives related to commercial FT development as the basis for the dissolution.
The company has been expanding its Coal-to-Liquids efforts in the US, having recently announced two CTL plant projects: one in Illinois and one in Mississippi. (Earlier post.)
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