Green Fuels Exchange opens

Commodities Exchange opens for Renewable Fuels

In its first week, the Green Fuels Exchange (GFEX) has seen unprecedented success for a marketplace of its kind. With over 400 unique visitors in its first week coming from 43 states and 10 foreign countries, this diverse collection of users includes organizations ranging from Archer Daniels Midland to United Technologies and the City of Phoenix to the US Department of Agriculture. Through this wide and varied use, contractual activity began before noon on its opening day for all but two GFEX products.

For the first time, the value of products such as switchgrass, at $21.84 per ton; cow manure, at $1.65/ton; or cornhusks, at $0.27 per pound, is accessible to the public in a transparent manner. “Even though our fist week saw visitors in the hundreds, not thousands or millions, we are already seeing the kind of valuable activity we were hoping for,†says Chris Draper, director of concept development. “Right now, since we have more people looking for products to buy than those looking to sell, we are seeing the product values dominated by the lower entry prices requested by the buyers. Once more sellers enter the market, we are expecting these values to migrate upwards.â€

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