BlueFire Ethanol Applauds Formation of Biofuels Interagency Working Group to Promote Energy Independence.IRVINE, Calif. -- BlueFire Ethanol Fuels, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:BFRE BFRE Besoin en Fonds de Roulement d'Exploitation (French: Working Capital Requirement for Exploitation) ), a company changing the world's transportation fuel paradigm through the production of ethanol from non-food cellulosic wastes, commends President Obama for forming the Biofuels Interagency Working Group. The group, which is to be co-chaired by the Secretaries of Agriculture and Energy and the Administrator of the Environmental Protection Agency The Administrator of the Environmental Protection Agency is the head of the United States federal government's Environmental Protection Agency, and is thus responsible for enforcing the nation's Clean Air and Clean Water Acts, as well as numerous other environmental statutes. , was formed in an effort to advance the research, development and commercialization of biofuels in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . President Obama has also promised $786.5 million from the American Recovery and Reinvestment Act to be provided to advance biofuels research, development and commercialization by allocating funds for commercial biorefineries. "It is great to see the administration bring all of these agencies together for the first time in an effort to address the challenges and opportunities for next-generation biofuels in America," stated Arnold Klann, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of BlueFire Ethanol. "The administration's support of biofuels technologies is a key step toward full-scale commercial production of cellulosic ethanol Cellulosic ethanol is a type of biofuel produced from lignocellulose, a structural material that comprises much of the mass of plants. It is composed mainly of cellulose, hemicellulose and lignin. and a testament to President Obama's desire to promote energy independence." Through the program the government aims to: * Refinance existing ethanol and biodiesel factories impacted by the current credit crunch Credit Crunch An economic condition whereby investment capital is difficult to obtain. Banks and investors become weary of lending funds to corporations thereby driving up the price of debt products for borrowers. * Guarantee loans for the construction of new biorefineries * Expedite funding to help producers of cellulosic crops "The federal government's financial commitment to ensure the longevity of the cellulosic ethanol industry will not only help biofuels companies move ahead but will also provide investor confidence in these projects breathing new life into the cellulosic ethanol industry," added Klann. About BlueFire Ethanol Fuels BlueFire Ethanol Fuels, Inc. was established to deploy a commercially ready, patented and proven Concentrated Acid Hydrolysis hydrolysis (hīdrŏl`ĭsĭs), chemical reaction of a compound with water, usually resulting in the formation of one or more new compounds. Technology Process for the profitable conversion of cellulosic ("Green Waste") waste materials to ethanol, a viable alternative to gasoline. BlueFire is the only cellulose-to-ethanol company worldwide with demonstrated production of ethanol from urban trash (post-sorted MSW (MicroSoft Word) See Microsoft Word. ), rice and wheat straws, wood waste and other agricultural residues. BlueFire is one of four ethanol companies awarded funding from the U.S. Department of Energy to construct ethanol production facilities. Unlike remote corn ethanol production plants, BlueFire's biorefineries will be located in markets with the highest demand for ethanol. This dramatically reduces delivery costs and increases biofuels supply, while providing a unique waste processing technology that helps cities better manage the problem of overflowing landfills. For more information, visit www.BlueFireEthanol.com. Forward-Looking Statements Statements about BlueFire Ethanol, Inc.'s expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. BlueFire's actual results could differ materially from expected results. BlueFire undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this press release; BlueFire will appropriately inform the public. |
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