Alternative - Biofuels Recommendations

Renewable Energy Group Inc.

Jefferson Research (2/5/16) "REGI is showing strong cash flow quality."

Anthony Hulen, Renewable Energy Group Inc. (2/3/16) "REGI agreed to acquire Sanimax's biodiesel refinery in Wisconsin."

Renewable Energy Group Inc.

Brett Wong, Piper Jaffray & Co. (1/15/16) "REGI is well positioned as the largest and lowest-cost producer."

Craig Irwin, ROTH Capital Partners (1/12/16) "The implied 2016E equity value of REGI is roughly $200M."

Craig Irwin, M Partners (12/16/15) "The omnibus bill that moved forward is a material positive for REGI."

Craig Irwin, ROTH Capital Partners (11/4/15) "Our 2016 EBITDA estimate for REGI is $105M."

The Energy Report Interview with Brett Wong (10/6/15) "REGI could be the biggest winner within the nonintegrated biodiesel providers."

Craig Irwin, ROTH Capital Partners (9/14/15) "Our meeting with management affirmed our view that REGI is well positioned."

Craig Irwin, ROTH Capital Partners (8/5/15) "REGI made progress on several accretive initiatives during Q2/15."

Craig Irwin, ROTH Capital Partners (6/1/15) "Higher biodiesel production and RIN prices support an improving outlook for REGI."

John Quealy, Canaccord Genuity (6/1/15) "We expect REGI to benefit from the prospect of biodiesel volume clarity."

Brett Wong, Piper Jaffray & Co. (5/31/15) "We are upgrading shares of REGI from Neutral to Overweight."

John Quealy, Canaccord Genuity (5/6/15) "REGI's balance sheet remains very strong."

Renewable Energy Group Inc.

Craig Irwin, ROTH Capital Partners (5/6/15) "REGI reported impressive cash flows, with the cash balance increasing by $136M in the quarter."

Katja Jancic, Sidoti & Company (5/6/15) "Despite the challenging environment, REGI was able to achieve over 5% YOY revenue growth."

Strategic Environmental & Energy Resources Inc.

The Energy Report Interview with JinMing Liu (10/29/14) "SENR uses pyrolysis and plasma technology to reduce the volume of the waste from different industries."