Friday, November 18, 2011

Fulcrum BioEnergy Gets $70M

Pleasanton-based Fulcrum BioEnergy, which is developing technology to produce ethanol from municipal solid waste, has raised $70M in funding, from strategic partner Waste Mangement, Inc.. The two firms said Friday that WM has agreed to provide up to $70M, via a secured loan facility, for Fulcrum's proposed Sierra BioFuels plant in Nevada. The two also said they would collaborate on other projects throughout the United States, to use municipal solid waste supplied by Waste Management's subsidiaries for feedstock.