Blue Biofuels Inc (BIOF)

[brooklyn137]

This is the Department of Agriculture page on the program.
https://www.rd.usda.gov/programs-services/energy-programs/biorefinery-renewable-chemical-and-biobased-product-manufacturing-program#:~:text=This%20program%20provides%20loan%20guarantees,renewable%20chemicals%20and%20biobased%20products.

As I read this, Blue already has a lender, and now has to submit a phase two application.

One of the requirements is that the borrower make a significant equity contribution. The exact language is as follows:
"The borrower and other principals involved in the project must make a significant cash equity contribution."

This is from the DOA page not the statute.

That may be why they are raising money.
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