BlueFire releases earnings statement
FULTON — BlueFire Ethanol Fuels Inc., which is proposing to build an ethanol refinery in Fulton, announced year-to-date income of approximately $4.11 million. Income sources for this period included Department of Energy reimbursement, various consulting fees and Solazyme Inc. sugar sales.
“2009 has been a dynamic year for BlueFire Ethanol and we expect this momentum to build through the end of this year and accelerate into 2010, with anticipated announcements about funding for our Lancaster, Calif., facility and regarding plans for the Fulton, Miss., plant,” said Arnold Klann, CEO of BlueFire. “Despite current market challenges, we expect to see continued income from the sale of our sugars, from consulting projects as well as through the Department of Energy’s continued support of BlueFire Ethanol’s Fulton, Miss., project.”
BlueFire is optimistic that it will soon close on the final financing needed to break ground on its shovel-ready, fully-permitted ethanol biorefinery in Lancaster. The Lancaster facility, BlueFire’s first U.S. commercial plant, will use post-sorted cellulosic wastes diverted from Southern California’s landfills to produce approximately 3.9 million gallons of fuel-grade ethanol per year.
BlueFire is also moving forward with its internal project schedule for a second planned commercial cellulosic ethanol plant, which will be relocated to Fulton. The project would allow BlueFire to utilize green and wood wastes available in the region as feedstock for the ethanol plant that will be designed to produce approximately 18 million gallons of ethanol per year. BlueFire expects to announce a third planned project facility early next year in addition to further details on the Fulton project in the near future.
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