USDA Awards Fulcrum Sierra Biofuels, LLC $105 Million Loan Guarantee

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The U.S. Department of Agriculture (USDA) has guaranteed a $105 million loan through Bank of America, N.A. to help Fulcrum Sierra Biofuels build a plant in McCarran, Nevada that would convert municipal waste into renewable jet fuel. The total project cost is expected to be $266 million and the plant is predicted to produce 11 million gallons of fuel per year. This loan was guaranteed as part of the Biorefinery Assistance Program that is included in the Farm Bill. The biorefineries are expected to reduce dependence on foreign oil, improve the environment by reducing greenhouse gas, and strengthen local economies. More information on this loan guarantee is available online.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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