The global Biofuel market was valued at US$141.56 billion in 2020 and is anticipated to reach US$245.48 billion in 2027. The outlook for the biofuels industry and US biofuel stocks is positive.
Biofuels are experiencing a rise in demand as government mandates push for greener automotive fuel blends. In mid-2021, the US Department of Energy announced close to US$34 million in funding for research and development projects aimed at improving and producing biofuels, biopower and bioproducts. Showing governments aren’t only creating laws, but also investing in the growth of this market.
There are several biofuel investments to consider, here are a few you should start researching today:
Viking Energy Group Inc. (OTCMKTS :VKIN) is an intriguing way to play this growing demand for biofuel. The company has a Membership Interest Purchase Agreement in place to acquire a Renewable diesel production facility in the corporate tax-free city of Reno, Nevada. The facility is capable of producing 43 million gallons per year, according to estimates. VKIN’s biofuel could net larger margins than average biofuel producers because there is a pretreatment center at the facility allowing the company to purchase pure feedstock rather than the pricy pre-treated feedstock many companies use in the production process. With terms of this agreement set to close soon, VKIN should be on your radar today.
Alto Ingredients Inc.. (NASDAQ:ALTO) stock has seen witnessing high volatility over the past few months with a gain of over 8% over the past month. Moreover, the stock has jumped 9% so far this year. On Wednesday, ALTO stock was down 3.73% to $5.16 with more than 2.14 million shares exchanged hands, above its average volume of 1.62 million shares.
Gevo Inc. (NASDAQ:GEVO) is another stock in the biofuel sector which has been showing consistent selling pressure. The stock has moved down 15% over the past one month. Moreover, the stock has fallen 39% so far this year. The stock is trading above 72% from its 52-week low and 9% away from its 52-week high.
Earth Gen-Biofuel Inc. (OTCMKTS:EGBB) stock was one of the biggest gainers in Wednesday’s trading session. EGBB stock ended higher by 55.5% to $0.0700 with more than 144k shares exchanged hands, above its average volume of 25K shares. The stock is trading above the 50-day and 200-day moving average of $0.0293 and $0.0696 respectively.
Blue Biofuels Inc (NASDAQ:BIOF) is another stock in the biofuel sector which has been showing consistent rise. The stock has moved up 12% over the past one month. BIOF stock closed higher by 3.92% to $0.2574 in previous trading session with volume of 68K shares, compared to its average volume of 152K shares.