Pleasanton-Based Fulcrum BioEnergy Raises $75M for Biofuels Plant

Pleasanton, Calif. -- Fulcrum BioEnergy, a Pleasanton-based developer of technology that converts waste products into biofuels, said on Tuesday it has raised $75 million in its third round of funding. Names of the investors were not disclosed. The company said it will use a portion of the funds to help build its Sierra BioFuels Plant, a commercial-scale production facility in Reno, Nev. designed to convert household garbage to ethanol, renewable electricity and other chemicals. "We are excited to be starting construction on this milestone project which will demonstrate the tremendous future potential of our business," said James Macias Fulcrum's president and CEO. Fulcrum, which has been working with Fluor on engineering services for the $120 million project, expects to begin construction this summer. Construction is expected to be complete by late 2012.
http://www.fulcrum-bioenergy.com
http://www.fulcrum-bioenergy.com/documents/SeriesCFinancingFINAL01-25-11.pdf (PDF)