Jan 30 2011
Fulcrum BioEnergy, an advanced biofuels company, has declared the closing of a Series C financing. The President and Chief Executive Officer of Fulcrum, said that a portion of the $75 million financing would be used to complete the Sierra BioFuels Plant.
Sierra BioFuels Plant
Fulcrum BioEnergy’s Sierra BioFuels Plant has been designed to generate renewable fuels and energy from waste. The project aims to convert municipal solid waste into ethanol, propanol and renewable electricity. Working in collaboration with Fluor for engineering services, Fulcrum anticipates the construction to commence this summer. The project is slated to complete by 2012. The $120 million plant will help create over 500 new jobs, stimulating economic growth in the Northern Nevada region. Sierra BioFuels Plant will provide the region with renewable, clean, reliable and low-cost fuel for transportation.
After completion of the construction, Fulcrum BioEnergy will become one of the first companies in the United States with the capacity to generate low-carbon ethanol, other valuable chemical products and renewable energy. It will also help reduce dependence on oil bought from foreign countries aiding the economy. The plant will help curtail greenhouse gas emissions benefiting the environment.