BlueFire Renewables announces Q1 loss, financing drive
May 17, 2011
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In California, BlueFire Renewables announced an operating loss of $461,000 for Q1 2011 on revenues of $83,000, with cash and cash equivalents on hand of $18,000 as of May 10, according to its SEC filing.
The company has raised $950,000 since December in investments and loans and “intends to fund its operations with reimbursements under the Department of Energy contract, from the sale of Fulton Project equity ownership, from the sale of debt instruments, our equity purchase agreement consummated with LPC in January 2011 (as discussed herein), as well as seek additional funding in the form of equity or debt.”
The company is currently developing its advanced biofuels project in Fulton, Mississippi
Category: Fuels
