BlueFire Renewables Inc., a company specializing in transportation fuels produced from non-food cellulosic wastes, has entered into a memorandum of understanding (MOU) with China Huadian Engineering Co. Ltd. to finance its integrated power plant and biorefinery in Fulton, Miss., and up to five additional plants in the U.S.
Under the MOU, Huadian will invest equity by purchasing an interest in BlueFire Fulton Renewable Energy LLC and, optionally, debt for the Fulton project to complete financing and construction for the cellulosic ethanol facility. Additionally, upon the ramp-up of the Fulton project, the agreement intends for Huadian to invest equity and/or provide debt for the development of five more facilities. The MOU also contemplates the formation of a development joint venture to pursue similar projects in China.
