Replies to post #11266 on U.S Fuel Corp. (fka USFF)

[Jeff2Earth]

It's at the bottom, Danny.. Interesting wording, 'companies that ANNOUNCED they are interested in the program include...'

I wonder how many of the 143 'announced' they were applying..

These excerpts bear highlighting IMO,

'The government backing is designed to support technologies that are nearly ready for market, but need an added boost.'

AND

'the government was unable to hire experts to review applications until Congress provided $7 million in funding last month.

AND

Of the projects that applied, nearly 50 percent were for biomass energy, 16 percent were for advanced technologies and 12 percent were for solar energy. In total, the applications ask for $27 billion in guarantees.'

In MY view based on this articles words, the money was primarily designed to help TECHNOLOGIES NEARLY ready for market.. WOW! Of the 16 percent 'advanced technologies' that applied, I would think FFI is right up that alley.

Recap: Government can authorize 4 Billion THIS year in loans.
The latest six total 385 Million in federal loans. That leaves 3.6Billion dollars left for loans THIS YEAR, and FFI is of the 16percent 'nearly ready technology' ['first of it's kind', right?] applying.. Wow. This looks encouraging, folks..


---------------------------------------------

AP
Gov't to Review Energy Loan Applications
Wednesday March 7, 6:42 pm ET
Energy Department to Review Applications for Loan Backing on Alternative Energy Projects


WASHINGTON (AP) -- The Energy Department will spend the coming months examining 143 initial applications for loan guarantees designed to encourage alternative energy technologies that reduce pollution or limit greenhouse gases.


Energy Secretary Samuel Bodman said in a statement Tuesday that the number of applications "demonstrates a great desire from industry to get federal loan guarantees in place to spur innovative and novel technologies that lead to clean energy."

In total, the government has authority to guarantee up to $4 billion in loans this budget year. For next year, President Bush has requested a limit of $9 billion.

The government backing is designed to support technologies that are nearly ready for market, but need an added boost. Companies as well as state and local governments were allowed to apply.

Several members of Congress have criticized the Energy Department for being slow to start the program, which was enacted as part of the 2005 energy bill. But Craig Stevens, a department spokesman, said the government was unable to hire experts to review applications until Congress provided $7 million in funding last month.

Of the projects that applied, nearly 50 percent were for biomass energy, 16 percent were for advanced technologies and 12 percent were for solar energy. In total, the applications ask for $27 billion in guarantees.

Companies that have announced they are interested in the program include: BlueFire Ethanol Inc., Nuclear Solutions Inc. and Southridge Enterprises Inc.