Stalking horse bid of $34.5M for Clean Burn Fuels

August 31, 2011 |

In North Carolina, the foreclosure sale for Clean Burn Fuels has brought a bid of $34.5 million from its primary lender Cape Fear Farm Credit, equal to the loan guarantees that taxpayers gave as an incentive to develop renewable energy sources.

Bidding is open until Sept. 6 at 5pm for those who may wish to offer more for the plant with a minimum 5% higher than the opening bid, afterwards other bids will then have 10 days to place another bid until the final price is reached.

Category: Fuels

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