Sometimes it pays to be green, especially for shareholders of BIOX Corporation (TSX: BX) lately. BIOX stock powered 56% higher to its recent price of $0.89 and has surged 170% so far in 2015.
BIOX Corporation (TSX: BX) – $0.89
BIOX Corp. owns and operates a 67 million litre per annum capacity biodiesel production facility in Hamilton, Ontario. Biodiesel is a clean burning, non-toxic and biodegradable renewable fuel that is used as a replacement for, or additive to, petroleum diesel. Biodiesel contains no petroleum and is a renewable fuel because it can be made from a variety of renewable raw materials, or ‘feedstocks’, including pure seed oils, animal fats and recycled cooking oils.
BIOX Corporation recently reported second-quarter sales that increased slightly to $16.1 million from $15.7 million during the same period last year. The company, though, cautioned that the U.S. biodiesel tax incentive expired for the fourth time on December 31, 2014 and the industry is awaiting clarity on the incentive for 2015. BIOX has historically sold the majority of its product into the U.S. market and the company said it collected approximately US $6.5 million in refundable tax credits from its customers and the U.S. Internal Revenue Service related to sales to its customers during calendar 2014.The company expects to benefit from legislation by the province of Ontario, which will require 4% of diesel fuel and heating oil to have a ‘green’ component by 2017. As a result, BIOX anticipates 240 million litres of new biofuel demand to come from its local market.
BIOX stock, meanwhile, has been a top performer so far in 2015, surging 170%. BIOX is just one of the stellar component companies that make up the Ubika Sustainable 20 (US 20) index. The US 20 gained 19% during the past year, handily surpassing both the TSX Venture and TSX Composite Index, which returned -32% and 2%, respectively, over the same period.
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