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BlueFire Renewables strikes 15-year deal
Contract guarantees immediate revenue from the Irvine-based firm’s Mississippi ethanol plant when it’s operational.
By Amanda EdenPublished: September 23, 2010 02:34 PM
Irvine-based BlueFire Renewables has inked a 15-year deal with Tenaska BioFuels LLC that guarantees the firm will begin generating revenue at its Fulton, Miss., ethanol plant as soon as it’s up and running.
Under the agreement, Nebraska-based Tenaska BioFuels – the marketing affiliate of Tenaska – will purchase and sell all ethanol generated at the facility.
“This off-take agreement is a significant step forward for BlueFire,” said Arnold Klann, CEO of the firm. “This is one of the first cellulosic ethanol contracts of its kind in the U.S., establishing BlueFire as a clear leader in the industry.”
BlueFire was formed in 2006 with the goal of producing renewable fuels from nonfood cellulosic wastes in an effort to transform the world’s transportation landscape and better manage overflowing landfills.
The Fulton facility will use green and wood wastes available in the region as feedstock. It is expected to produce 19 million gallons of ethanol per year.
"We look forward to a long-term relationship with BlueFire and to collaborating on off-take agreements for future plants as BlueFire continues to expand and bring valuable biofuels to the markets that need it most," said Dave Neubauer, general manager and vice president of Tenaska BioFuels.
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Under the agreement, Nebraska-based Tenaska BioFuels – the marketing affiliate of Tenaska – will purchase and sell all ethanol generated at the facility. “This off-take agreement is a significant step forward for BlueFire,” said Arnold Klann, CEO of the firm. “This is one of the first cellulosic ethanol contracts of its kind in the U.S., establishing BlueFire as a clear leader in the industry.” BlueFire was formed in 2006 with the goal of producing renewable fuels from nonfood cellulosic wastes in an effort to transform the world’s transportation landscape and better manage overflowing landfills. The Fulton facility will use green and wood wastes available in the region as feedstock. It is expected to produce 19 million gallons of ethanol per year. "We look forward to a long-term relationship with BlueFire and to collaborating on off-take agreements for future plants as BlueFire continues to expand and bring valuable biofuels to the markets that need it most," said Dave Neubauer, general manager and vice president of Tenaska BioFuels. Related headlines Fisker Automotive adds two members to its board Irvine-based Quantum nets $4.4 million in financing OC METRO, September issue: 'About face' |
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