One of the most unique companies to leave its mark on the stock market is BlueFire Ethanol Inc. One of only four companies to be awarded funding from the U.S. Department of Energy under the Energy Policy Act of 2005, BlueFire is the only cellulose-to-ethanol company across the globe with demonstrated production of ethanol from urban trash, rice and wheat straws, wood waste and other agricultural residues.
Today, BlueFire took a major step towards enhancing their already bright future with the announcement that their year-to-date income exceeds $4.1 million. The income sources for this success include the before mentioned Department of Energy reimbursement, sugar sales, and a number of consulting fees.
One of the major projects in the BlueFire arsenal is their first commercial plant within the United States, known as the Lancaster Facility. Located in Lancaster, Ca, BlueFire is extremely optimistic that it will soon close on the final financing needed to break ground of the shovel-ready, fully permitted biorefinery.
Leading the way at BlueFire is their CEO Arnold Klann. When asked about this past year for the up-and-coming company, Klann was quoted as saying, “2009 has been a dynamic year for BlueFire Ethanol and we expect this momentum to build through the end of this year and accelerate into 2010, with anticipated announcements about funding for our Lancaster, CA facility and regarding plans for the Fulton, MS plant. Despite current market challenges we expect to see continued income from the sale of our sugars, from consulting projects as well as through the Department of Energy’s continued support of BlueFire Ethanol’s Fulton, Mississippi project.”
Currently, BlueFire is trading in the $0.86 range. With solid earnings, strong management and technology that develops trash into cash, BlueFire is quickly becoming a friend of the environment and Wall Street.
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