Range Fuels confirms layoffs, new funding drive; executes planned shutdown in GA after first ethanol run
In Colorado, Range Fuels confirmed to a variety of media outlets that it had made layoffs in Colorado and Georgia, and will shut down its Soperton, Georgia plant after an initial ethanol demonstration run in order to raise more capital and “tackle technical problems.”
Last February, Range CEO David Aldous told the Digest “We intend to run our first year in campaign mode with several different tests and bringing the plant down between campaigns to analyze plant equipment and design for incorporation of learnings into future phases of the plant.”
The company has declined to elaborate on a statement to Ethanol Producer that “A handful of people in Colorado and Georgia were impacted by the layoffs,” although the Digest has learned that among those affected are the former Soperton plant manager. Range had commenced production on methanol last year and told the Digest that it would commence ethanol production by Q3 2010.
Range spokesman Patrick Wright told Earth2Tech that the company would meet its 2011 production goals set by EPA, which include 2.9 million gallons of methanol and 100,00 gallons of ethanol. Range received an $80 million loan guarantee from USDA last year, after previously scoring a DOE cellulosic ethanol grant in 2008, and raising $100 million in a private equity round in 2008 led by Khosla Ventures.
Category: Producer News