BlueFire Ethanol Fuels, Inc. has submitted an application for a $250 million dollar loan guarantee for the company's planned cellulosic ethanol biorefinery in Fulton, MS. The application, filed under the Department of Energy (DOE) Program DE-FOA-0000140, which provides federal loan guarantees for projects that employ innovative energy efficiency, renewable energy, and advanced transmission and distribution technologies, was submitted 15th of February, 2010 and serves as a phase one application in a two phase approval process.
The Fulton plant is already a recipient of an award of up to $88 million from the U.S. Department of Energy under the Energy Policy Act of 2005 and the American Recovery and Reinvestment Act of 2009. If approved, the loan guarantee will secure the financing for the remainder of the costs to construct the facility, which will produce 19 million gallons of ethanol per year from woody biomass, mill residue, and other cellulosic waste.
"We are very optimistic that the DOE will consider the enormous benefits of BlueFire Ethanol's technology to convert cellulosic waste products into useable biofuels during this selection process," said Arnold Klann, CEO of BlueFire Ethanol. "Programs like the DOE loan guarantee enable first-of-its-kind technologies to come to fruiting and ultimately help ease the United States' dependence on fossil fuels like petroleum, which is oftentimes imported from hostile nations."
Currently, BlueFire Ethanol is focused on the development of two cellulosic ethanol facilities in Lancaster, CA and Fulton, MS.
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