BlueFire Ethanol Fuels ready to break ground on waste-to-ethanol plant in Calfornia

BlueFire Ethanol Fuels is ready to break ground by April on its 3.1 Mgy waste-to-ethanol plant near Lancaster, California. The company is awaiting its air permit before commencing construction, after securing additional financing to supplement a cellulosic ethanol grant from the Department of Energy received last year. The company, which plans to erect a number of waste-to-ethanol plants near landfills, has a 16.6 Mgy plant on the drawing board that would be built near Corona.

BlueFire Ethanol Fuels closed its $15 million financing round last month to provide working capital and project funds for its 17 Mgy cellulosic ethanol project in Southern California.

In the financing agreement, the Quercus environmental trust acquired $15 million in common stock and warrants, while Aurarian Capital Partners and Aurarian Capital converted their senior convertible notes into common stock.

Bluefire holds the exclusive North American license to employ the Arkenol Process Technology, a patented system that transforms cellulosic waste into usable ethanol.

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