News International Sugar Journal

USA – Bluefire secures investment from a Chinese bank for a cellulosic ethanol plant [Registered]

Cellulosic ethanol plant developer BlueFire Renewables recently reported that the Export-Import Bank of China has issued a Letter of Intent to provide a $270 mln loan to build the company’s first commercial plant, a $300 mln facility in Fulton, Mississippi. As a small firm, with nine full-time employees and a market capitalization of only $6 mln, BlueFire had previously been unable to overcome investors’ doubts that it would make a large enough profit, the company’s CEO said. The US Department of Energy had suspended a $74 mln construction grant last December, after the company had spent $14 mln in federal…

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