Question-and-Answer Session
Operator
(Operator Instructions) There are no questions at this time; I would like to turn it back over to management for any additional or closing comments.
Hunt Ramsbottom
Thank you, today we stand strong as an alternative energy company. We have assembled a best in class technology package for commercial renewable synthetic fuel from biomass. We have increased our intellectual property portfolio with a critical component in the technology chain for renewable fuels production.
We have announced our first renewable energy project, which will serve as a prototype for future waste to fuels and power projects. We are moving forward in a measured way with our Natchez facility, having kicked off permitting.
We are producing synthetic fuels at the PDU with our enhanced catalyst. We have increased REMC EBITDA guidance for this year to $65 million and increased consolidated EBITDA guidance to $15 million.
With these accomplishments we believe we have strengthened our company’s growth prospects as well as our competitive positioning within the alternative energy space and we’re projecting strong financial performance in a very difficult macroeconomic environment.
Thank you for your continued support and we look forward to seeing you at our Annual Shareholders Meeting next week. Thank you very much.
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