In California, BlueFire Renewables announced that Lincoln Park Capital Fund will invest up to $10 million in the company. Upon signing the agreement, LPC invested $150,000 in BlueFire as an initial investment under the agreement at $.35 per share together with warrants to purchase an equivalent number of shares at an exercise price of $.55 per share. BlueFire intends to use the proceeds of this transaction for general corporate purposes and to aid in the closing of additional financing for the Fulton project.
Category: Fuels