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Business
BlueFire Renewables Gets China Backing …
by Melody M. Bomgardner
November 3, 2014
| A version of this story appeared in
Volume 92, Issue 44
BlueFire Renewables, a cellulosic fuels and chemicals firm, has received a letter of intent for $270 million in project financing from the state-owned Export-Import Bank of China. It plans to use the money to build a 19 million-gal-per-year cellulosic ethanol plant in Fulton, Miss. BlueFire uses concentrated-acid hydrolysis to break down cellulose into sugars that can be fermented into ethanol. In 2009, the firm was awarded an $88 million grant as part of the American Recovery & Reinvestment Act, but it struggled to raise the rest of the funds needed for construction.
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