IRVINE, Calif. and FULTON, Miss. /PRNewswire/ -- BlueFire Renewables, Inc. (OTC Bulletin Board: BFRE), a company focused on changing the world's transportation fuel paradigm through the production of renewable fuels from non-food cellulosic wastes, is pleased to show progress in deploying Recovery Act dollars received from the Department of Energy (DOE).
With the issuance of all required permits, the initial activities of clearing, rough grading and drainage improvements of the Fulton, Mississippi site has commenced under a contract with Century Construction, a Mississippi based contractor. Approximately 52 workers are employed for this initial phase of work with others located off-site. Once erection of the plant commences, the jobs at the site will peak at about 700 employees under the Engineering, Procurement and Construction (EPC) contract with MasTec, Inc.
In conjunction with Itawamba County and the City of Fulton, BlueFire is effectively spending Recovery Act funds that it has received from the U.S. Department of Energy's Energy Efficiency and Renewable Energy Program.
"Our goal is twofold - to deliver on reaching the DOE's goal of making cellulosic ethanol a viable and cost-competitive alternative to oil, and to get economic recovery money out on the street as quickly as possible to put people to work," said Arnold Klann, President and CEO of BlueFire Renewables. "It has been a long journey to get to this point in a very challenging financial market. To complete the process of bringing these promising biofuel projects to fruition, the loan guarantees as provided by Congress, are needed to get alternative energy technologies in the ground."
BlueFire Renewables' Fulton, MS facility is now fully permitted and has off-take, feedstock and Engineering, Procurement and Construction (EPC) contracts in place, which satisfies all stated requirements to move forward on an agreement with either the DOE or USDA for a loan guarantee to complete financing of the project.
"BlueFire now stands poised to finalize a government loan to complete financing and construct this commercial-sized cellulosic ethanol plant," stated Arnold Klann, CEO of BlueFire Renewables, Inc. "The federal stimulus bill has the capability of retaining and creating jobs of all types including those for scientists, technicians, and support staff."
The Fulton, MS project will allow BlueFire to utilize green and wood wastes available in the region as feedstock for the ethanol plant that is designed to produce approximately 19-million gallons of ethanol per year. BlueFire's biorefineries will be located near markets with high demand for ethanol and will use locally available biomass. This should dramatically reduce delivery costs and increase biofuel supplies, while providing a unique waste processing technology to help America's cities better manage the increasing problem of overflowing landfills.
Check back periodically for more updated photos of construction progress at www.bfreinc.com
About BlueFire Renewables, Inc.
BlueFire Renewables, Inc. was established to deploy a commercially ready, patented and proven Concentrated Acid Hydrolysis Technology Process for the profitable conversion of cellulosic waste materials ("Green Waste") to renewable fuel sources, including Cellulosic Ethanol, Biodiesel, BioJet Fuel, and Drop-in Directs. BlueFire is the only cellulose-to-fuel company worldwide with demonstrated production of Biofuels from urban trash (post-sorted MSW), rice and wheat straws, wood waste and other agricultural residues.
BlueFire received an increase to its Grant totaling $88 million under the American Recovery and Reinvestment Act in December of 2009. BlueFire's biorefineries will be located near markets with high demand for ethanol and will use locally available biomass. This should dramatically reduce delivery costs and increase biofuel supplies, while providing a unique waste processing technology to help America's cities better manage the increasing problem of overflowing landfills. For more information, please visit www.BFREINC.com.
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Forward-Looking Statements
Statements about BlueFire Renewables expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation Reform Act of 1995. BlueFire's actual results could differ materially from expected results. BlueFire undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this press release; BlueFire will appropriately inform the public.
This press release includes statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). BlueFire Renewables, Inc. claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterized by the terms "may," "believes," "projects," "expects," or "anticipates," and do not reflect historical facts. Specific forward-looking statements contained in this press release include, but are not limited to: our successful development and deployment of ethanol production facility or facilities, impact of the company's expansion plan, and new business development success, future financial results, the impact of competitive products or pricing from technological changes, the effect of economic conditions and other uncertainties. The forward-looking statements contained herein involve risks and uncertainties that could cause actual results to differ materially from the expectations contained in any such forward-looking statements. These risks include, but are not limited to: failure to manage operating expenses or integrate new facilities and/or technologies, each of which could have a material impact on our business, our financial results, and the company's stock price. These risks and other factors are detailed in the Company's regular filings with the U.S. Securities and Exchange Commission. Most of these factors are difficult to predict accurately and are generally beyond the Company's control. Forward-looking statements speak only as to the date they are made and BlueFire Renewables, Inc. does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
