Company Credits Biofuels for Boom in Profits

December 2, 2003 [] Intrepid Technology and Resources, an Idaho-based renewable energy company, completed its 4th consecutive profitable quarter. Revenues for the quarter increased 25 percent to US$804,000 and the company reported a net profit of $45,300, compared to a net loss of $119,167 in the comparable quarter of last year. The company additionally increased its current order backlog to 956,000 from 431,000 in 2002, indicating strong sequential revenue growth. The company continues to record significant progress with its alternate and renewable energy generation, which focuses on biodiesel, biogas and ethanol. Dr. Dennis Keiser, Intrepid’s CEO believes that that segment will continue to contribute substantially to future revenue beginning, possibly, as early as the current fiscal year. The company expects 80 percent of its business will come from the production of bio-fuels produced and used in the west within the next three years. The company is presently in late stage negotiations with a number of end-users to begin production on a facility of “significant capacity.”
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