Friday, January 14, 2011

Wall Street Journal says 24 furloughed by Range Fuels

Some $300 million in financing isn’t enough for Range Fuels Inc. The biofuels producer, which has raised more than $130 million in equity and more than $160 million in government funding, is keeping operations at its biorefinery plant in Georgia at a minimum - including furloughing 24 people - until more funding comes in, the company’s plant manager tells VentureWire.  “We need to expand the plant. This was going to be part of several phases, and we’ve not been able to secure financing as of yet,” said Bud Klepper, who also invented the company’s technology.

Can New York do it better?
New York Times mentions Range Fuels
Range Fuels has built a commercial-scale plant near Soperton, Ga., and produced some ethanol there from wood waste, but not in commercial quantities.

Should Klepper move to New York, should Mascoma buy out Range Fuels and see if they can use the Soperton plant to produce commercial levels of ethanol?

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