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I believe China WILL come through, as they have a huge interest now in this technology, for more than one reason.
I don't know about BFRE selling more shares, but the 10K is due to be filed this week, and I am optimistic it will contain some kind of good news.
Interesting article, ProfitScout. This says the "sunken" oil prices are forcing engineers to search for lower cost methods for refracking of existing wells. This should lead to more efficient methods of producing crude oil and gas over the longer haul,in both old and new wells, as they develop better and lower cost production techniques.
I also am holding on by faith in this company's integrity. They obviously have been putting a lot of thought and attention into the new TransLoc squared. I have not heard any negative comments about its potential for any number of materials needing to be shipped.
Agree, Magicman! Remember, there are a lot of "refracking" in old wells going on, and this could mean a faster increase in production once a company decides to do this. I understand that refracking is lower cost, and is profitable at lower crude prices.
Oops, I meant to say Translock2!
That's about what I had figured, too! Once a contract or two is signed, it should become easier to get financing to ramp up production of Transprop2 containers, and any plant/personnel changes that need beefing up!
They will need a few Translock2 containers to begin trial shipments to several potential customers. That to me is as good a reason as any for raising new capital through additional shares.
Agree with Magicman! They need some capital to initially make a few Translock squared containers to help potential customers prove them out.
Agree, ProfitScout! I used to work with a petrochemical used by the tire industry for reinforcing the rubber compounds. Whenever we developed a new product, we ran all sorts of lab tests and, if they all looked good, we would then retread and test tires containing the experimental tread compounds,then make presentations to the Goodyears and Firestones, etc. If value was found from their perspectives, we would furnish lab samples, followed by one or more commercial shipment so they could evaluate all the handling, rubber mixing, and then making and testing of their own tires, to confirm our results in their own systems. After all this, with some tire testing taking months (treadwear) , we would finally get production orders.
So, I think some of the DDCC potential customers are nearing the end of their "treadwear" testing! [:^)
Before long, new issues should arise relative to who will manufacture the (TransLock)X(TransLock) systems, at what rate, and manning up all DDCC locations to facilitate coming orders!
I got a feeling the DDCC management are ready to deal with these type of issues! [:^)
I think the word, "pilot" industrial quantity shipments means a preliminary shipment or two at the normal usage levels, in order to determine that everything is working ok, before entering into a longer-term, full-scale contract.
ProfitScout, I added your post as a sticky, as requested.
Mr. Drew's letter seems very encouraging for the relatively near term!
I don't, either, JRG, and I think the Chinese are somehow involved in assisting Bluefire in completing all the needed financing for Fulton, since their own use of the technology seems to hinge on the operational success of the Fulton plant.
I see this as strengthening our energy production over the longer term, as they solidify processes to include more "refracking", and other efficiencies that should continue to produce good, steady profits, even if (or as?) oil prices stay well below $100 for quite a while.
So, when DDCC DOES get a contract, it should be more stable over the longer term, than if it was with a company scrambling to take every advantage of prior super-high oil prices.
Even if ethanol becomes restricted some in the US, remember that BFRE has a huge part to play in China, and that won't start, IMO, until the Fulton plant is built and the Izumi success of the concentrated acid, cellulosic ethanol process, is confirmed.
ProfitScout, that is extremely exciting news for DDCC shareholders! [:^)
Richard Klann told me Arnie is in Washington this week, meeting with the DOE. Maybe he will speed up their decision-making process? [:^)
I think it's a "reach" for them to state that BFRE will begin construction soon, when BFRE management tell us the financing is not totally in place yet, AFTER which specific planning should begin for a construction starting date!
My guess is that, after financing IS in place, it will still take weeks, if not months, to finalize detailed engineering and purchasing planning, hire plant management and operators, and all else that is needed. Once all that is done for Fulton, and its process is well-established, it should be a whole lot easier, and quicker, for multiple plants to begin.
I am a bit confused now, and have emailed Richard Klann for more info on required funding. It has been my understanding that, if the DOE completes their original promised grant amount, the EXIM loan amount will then be fully approved, and permit beginning (and completion) of the Fulton plant. It should also permit hiring of plant personnel, and all necessary expenses until the plant is completed, proven out, and producing revenue. I am not aware of any additional need for funding, besides these two sources?
That's good news for the future of DDCC. Also was glad to hear about a lot of interest in Translock2 among potential users.
From what Tricia has been saying, when they DO announce something new, it should already have most of the details worked out, and be close to being ready to start.
Well, let's hope Arnie's presence, and what he has to say, will help them come up with a positive decision.
Richard Klann told me they have until sometime late this summer to make their final decision.
Very encouraging, crudelover. The fact that the DOE is having Arnie come to their meeting tells me they are at least still open to changing their minds. Perhaps they will decide this soon?
Hearing that China Three Gorges is checking into details such as plant equipment warrantees,etc., tells me how serious they are to begin planning as much as they can, even before the deal is finalized!
JR, from the git-go, it sounded to me like the deal with the Chinese was going to GO, assuming the DOE would finally be, "all-in".
If the DOE does happen to back out, I see a very good chance of another source of that remaining $30MM becoming available, and I suspect BFRE has been engaging in some preliminary discussions on that possibility, probably with a Chinese company.
There is simply too much interest, and need in China, for them NOT to do whatever is reasonable and necessary to move it forward!
Remember, BFRE has a proven cellulosic sucrose/ethanol process(from Izumi), and all that is needed now, for multiple plant expansion, is to build the Fulton plant to confirm its viability in a full-scale operation. In my view, this is highly probable( expressed as a Chem. Engineer from the petrochemical industry).
My perception is that the Chinese are already "IN", as long as the DOE comes through. ( At which time I see the Fulton project starting soon afterward).
My thinking is, if DOE does NOT come through, BFRE will seek another source for the $30MM, and that could also be a Chinese source?
The fact that the DOE hasn't decided as yet, indicates to me they are seriously thinking of reversing their decision, and granting Klann's appeal. It should, in the long run, really offset a lot of the negative news regarding Solyndra, and others.
Me neither!
HM, our understanding is the Chinese are ready to begin as soon as the final funding from the DOE is decided and available. According to Richard Klann, the DOE has until Sept. to make a final decision on whether to reverse themselves per Arnie Klann's appeal. If they do not reinstate their full grant, then other means will need to be sought to complete the full funding, and that may take more time.
So, the next BIG news should be from the DOE. I just hope they complete funding, and do it WAY before Sept!
Sure is!!! Once the last 30 million of finances is settled( whether DOE, or something else) there should be no more hindrances, other than details of plant construction and hiring to run it.
Fortunately, cellulosic producers of sucrose ( from which a number of products can be produced, including ethanol) do not have to be concerned with corn prices. The use of very low cost raw materials gives the cellulosic producers an economic edge over those using corn or sugarcane(Brazil). I see the main issue for new producers like Bluefire is initial financing. It is likely, once initial financing is secured, they will make decent profits to repay loans and finance additional plants, as long as ethanol prices and usage remain adequate. If ethanol usage in gasoline is politically reduced in the US, there are other products available to switch some cellulosic( and corn-based) ethanol production into.
Therefore, I remain optimistic that the Bluefire technology has a great future, in both the US, and even more so in other nations such as, and in particular, China, where it seems to be especially recognized and desired.
Likely so, a little anyway! Just remember, financing is the big news subject here: A "no" by the DOE could send it below 1 Cent, while a "yes" answer to Klann's appeal, should produce huge volumes of buying!
At least its going up( a little, so far)! [:?)
It's all about the financing now. I think BFRE will wait until the DOE decides on Klann's appeal, and then look for another source for the 30 million if they don't decide in his favor.
Once favorable financing news is announced, we are then looking at another year or more to purchase equipment/build the Fulton plant, and then evaluate the total process. So, the final decisions on more US and the multiple Chinese plants likely won't be made until Fulton is thoroughly proved out.
Once the green light is on from the Fulton experience, they should be off and running with plans for multiple plants being built in both countries, and the stock price flying high! [:^)
Zero, that makes sense to me too! It could move up some without news, but we believe the big move will come on favorable financing news, sometime between now and Sept.?
Ahh, but a great opportunity is coming, and nearly here, to load up more shares and wait for the coming funding completion!
Keep in mind To build an ecologically and economically positive business that turns waste materials into useful products.
Again, the big question is, will the DOE vote in favor of BFRE on Arnie's appeal to complete the original grant amount? I understand they have until about Sept. to make a final decision. Nothing is expected to begin until they have all financing in place for the Fulton plant ( $270MM loan from China EXIM, and $30MM more from the DOE grant).
Should the DOE decide against further funding, my hunch is there is an alternative source being sought for the remaining 30 MM, possibly from China, because this has become such an important project for them, as well as for Bluefire.
What I am trying to say, is that the only news that is likely to have a HUGE effect on the BFRE stock price is news related to complete funding for the Fulton plant. Chinese plants will likely not begin until Bluefire has proven out the process at Fulton, which could be another year after Fulton financing is settled.
Should hold at this major support.
Spec, that was not a false statement, but Bluefire has formally requested a reversal of the DOE decision to stop additional funding. My understanding is the DOE time frame for reconsideration extends until sometime around Sept. 2015.
Of course, this extension is to allow time for the DOE to make a final decision on completing their grant, which I understand is due no later than Sept. Hopefully, it will be positive, and made before that time. The DOE can gain a lot of prestige here too, by making up for some earlier bad deals such as Solyndra, etc.
I still think this project is so important that, if the DOE fails to come through, then other means will be sought to complete the funding. This is probably already being tentatively
worked out, in order to prevent further delay if the DOE does say no!
Spidaman, Mr. Fang sure seems to be very positive on the great value that a cooperative venture between BFRE and CTG can have to each company, as well as to each country.
I don't believe we will have to wait too much longer before seeing a final breakthrough in financing. Preferably by the DOE, but if needed, between BFRE, CTG and maybe the EXIM Bank of China?
There is just too much momentum now, for this project not to begin soon!