BlueFire Renewables Adds New Revenue Source to Fulton Facility
IRVINE, CA, (October 3, 2013) – BlueFire Renewables, Inc. (OTCBB: BFRE.OB), a company focused on changing the world’s transportation fuel paradigm has integrated a synergistic wood pellet production plant to its facility in Fulton Mississippi. The reconfigured design will be a 9 million gallon per year ethanol plant integrated with a 400,000 ton per year wood pellet plant. The pellets will be sold under long term contracts into the European mandated renewable energy market.
“This restructure provides a more robust economic model for the Fulton facility with a significant increase in projected revenues. It has become apparent in our attempts to obtain financing for the project that the right synergies and revenue model would be needed to build this first of a kind facility” said Arnold Klann President & CEO. “The optimum use of biomass in the integrated facility strikes a much better balance of revenue with costs and a better utilization of resources. The more profitable use of capital and the enhanced security of projected revenue streams more closely match what the banks have been requiring in the very conservative and restricted credit markets” stated Klann.
Traditionally wood pellets are used for electricity generation and can be sold under long term, fixed price contracts to credit worthy utilities thereby adding financial stability to the project. Blended with lignin from BlueFire’s process, the wood pellets create a market advantage under the international mandates for renewable energy, especially for power in the European Union.
BlueFire has previously announced start of construction and has completed the preliminary site work for the ethanol facility. The engineering and other development activities needed are already under way to add the pellet plant. Synergistic partners will be announced once the definitive agreements are signed.
About BlueFire Renewables, Inc.
BlueFire Renewables, Inc. was established to deploy the Arkenol patented and proven Concentrated Acid Hydrolysis Technology Process for the profitable conversion of cellulosic waste materials (“Green Waste”) to renewable fuel sources. BlueFire has demonstrated production of Biofuels from urban trash (post-sorted MSW), rice and wheat straws, wood waste and other agricultural residues.
BlueFire received a Grant totaling $88 million under the American Recovery and Reinvestment Act in December of 2009. BlueFire’s biorefineries will be located near markets with high demand for ethanol and will use locally available biomass. This should dramatically reduce delivery costs and increase biofuel supplies, while providing a unique waste processing technology to help America’s cities better manage the increasing problem of overflowing landfills. For more information, please visit www.BFREINC.com.
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Statements about BlueFire Renewables expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are “forward-looking statements” within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation Reform Act of 1995. BlueFire’s actual results could differ materially from expected results. BlueFire undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this press release; BlueFire will appropriately inform the public. BlueFire Renewables, Inc. claims the protection of the safe-harbor for forward-looking statements as the statements herein involve risks and uncertainties that could cause actual results to differ materially from the expectations contained in any such forward-looking statements.