BlueFire Ethanol Fuels, Inc. announced that the Department of Energy has determined that the company has met the requirements necessary for Phase I of the application process for a loan guarantee and that the company has been invited to continue on to Phase II for the financing of their Fulton, MS Project.
The loan guarantee pursuant to this program would support the construction of BlueFire’s commercial cellulosic biofuels plant planned in Fulton, MS. Under this program BlueFire has requested $250 million, which would be combined with the previously awarded $88 million dollar 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.
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. 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.— Arnold Klann, CEO of BlueFire Ethanol
BlueFire Ethanol Fuels, Inc. was established to deploy a commercially ready, patented and proven Concentrated Acid Hydrolysis Technology Process (the Arkenol process) for the profitable conversion of cellulosic waste materials to ethanol. (Earlier post.)