For you newcomers who may not have finished your DD yet, here is a glimpse of the big picture:
BFRE has a patented process for converting cellulosic materials, including certain waste products, into ethanol ( or similar organic chemicals). They have prepared a plot of land in Fulton, MS, for such a plant, that will use wood waste products from lumber mills.
A Chinese company, China Three Gorges(CTG) has offered to help them arrange financing for that plant, so they can determine if it is a viable process to enable China to build multiple ethanol plants using Bluefire's technology, for converting some of their increasing supply of waste materials into ethanol.
At this point, Bluefire has a plant cost estimate of around $300M, and an LOI from the China EXIM Bank for a $270M loan. Bluefire are still looking for the remaining $30M, either as a US grant, or maybe a separate loan from another source. The DOE had earlier granted some funds, but with the passing of time, they stopped giving Bluefire additional funding. So, the big question is, will they get the remaining $30M, either as a loan or a grant from a different source? Therefore, any news that paves the way for Bluefire being able to fully finance their Fulton plant, will be HUGE!
Completion and verification of the Bluefire technology at Fulton, should open up big opportunities for Bluefire, both for patent rights to Chinese plants, and future US plants owned by Bluefire.
I happen to be a retired Chem. Engineer from the petrochemical field, and from reading the Bluefire literature on their previous pilot plant in Japan, I believe they have an excellent and profitable process for ethanol production, especially when using very low cost raw materials.
