Fulcrum Bioenergy moves to final phase of DOE loan guarantee process
In California, Fulcrum BioEnergy announced today that the U.S. Department of Energy has selected Fulcrum’s Sierra BioFuels Plant to enter the final phase of DOE’s Loan Guarantee Program. Fulcrum has received a detailed indicative term sheet from DOE and has begun the negotiation process to advance the loan towards closure and funding. The Sierra BioFuels Plant will be located approximately 20 miles east of Reno, Nevada in Storey County.
The plant will produce 10.5 million gallons of ethanol annually along with 16 megawatt’s of renewable electricity by processing post-sorted municipal solid waste – household garbage. When operational in 2012, the project will reduce our nation’s dependence on foreign oil, significantly lower carbon emissions and stimulate economic growth in Northern Nevada by creating 53 full-time and more than 450 temporary green jobs.
The privately-held company focuses on developing, owning and operating biorefineries that convert municipal solid waste and other waste products to renewable transportation fuel.
Category: Fuels
