DOE approves BlueFire Ethanol’s application
FULTON — BlueFire Ethanol Fuels Inc. announced that the Department of Energy (DOE) has determined that BlueFire Ethanol has met the requirements necessary for Phase I of the application process and that the company has been invited to continue on to Phase II for the financing of its Fulton project.
The loan guarantee pursuant to this program would support the construction of BlueFire’s commercial (cellulosic) biofuels plant planned in Fulton. Under this program BlueFire has requested $250 million, which would be combined with the previously awarded $88-million grant and other resources to provide sufficient capital for the project’s construction and launch of the facility.
The Fulton facility will produce 19 million gallons of ethanol per year from woody biomass, mill residue and other cellulosic waste.
Arnold Klann, CEO of California-based BlueFire, said, “It’s going to take programs like the DOE loan guarantee to enable first-of-its-kind technologies to be in a position to secure the necessary funding to move forward and help provide cleaner energy sources to the fuel market.”
To help facilitate the closing of this financing, BlueFire Ethanol is actively recruiting specialists to close the transaction.
“We are currently evaluating all options and seeking strategic personnel to help BlueFire successfully close the financing for the Fulton facility and other future facilities,” said Klann.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Drew Brees settles lawsuit alleging investment fraud
- Doctor convicted of using phony church for tax shelter
- Ex-Delta mayor indicted, accused of stealing city property
- Cochran's legal counsel asks Court to toss McDaniel's lawsuit
- Williams-Sonoma expanding, adding nearly 1,000 jobs
- Biloxi baseball project still alive but may be held for 2015
- Travis retiring as head of Mississippi World Trade Center
- More than half-dozen groups file charter school applications
- Pearl ordering rental properties to retrofit with sprinklers, build storm shelters