United States : Ethanol plant in works.Byline: manish03 A California-based ethanol ethanol (ĕth`ənōl') or ethyl alcohol, CH3CH2OH, a colorless liquid with characteristic odor and taste; commonly called grain alcohol or simply alcohol. company announced it has gotten permission from the U.S. Department of Energy to use a $40 million grant to construct an ethanol plant in Fulton. Irvine-based BlueFire Ethanol Fuel Ethanol fuel is ethanol (ethyl alcohol), the same type of alcohol found in alcoholic beverages. It can be used as a fuel, mainly as a biofuel alternative to gasoline, and is widely used in cars in Brazil. Inc. plans to set up shop on a 12- to 13-acre site on the Tennessee-Tombigbee Waterway Tennessee-Tombigbee Waterway, system of navigation channels, 234 mi (377 km) long, Ala. and Miss., connecting the Tennessee River with the Tombigbee River and, via the Mobile River, with the Gulf of Mexico. Constructed by the U.S. where it would turn wood chips into ethanol, Arnold Klann, the company's 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. , said. Greg Deakle, executive director of the Itawamba County Economic Development Council, said the plant still has to earn approval from the state Department of Environmental Quality. Depending on licensing and financing, the plant would break ground in June or July at the earliest, Klann said. The total investment would be between $210 million and $220 million. During construction, the plant could employ as many as 1,300. When open, its maximum employment would be around 60. BlueFire would produce 18 million gallons of ethanol annually at the Mississippi plant. The company had planned to build the plant in its native California and use the DOE grant there but became discouraged dis·cour·age tr.v. dis·cour·aged, dis·cour·ag·ing, dis·cour·ag·es 1. To deprive of confidence, hope, or spirit. 2. To hamper by discouraging; deter. 3. with a tax increase that added about $1 million to the cost and a public approval process that allowed challenges to slow the progress. "It was a totally specious argument Noun 1. specious argument - an argument that appears good at first view but is really fallacious argument, statement - a fact or assertion offered as evidence that something is true; "it was a strong argument that his hypothesis was true" , but it slowed down our project by about five months and cost us another $150,000," he said. The company still is working on financing for its first plant in Lancaster, Calif., which would open by the end of next year - at the earliest. That plant would produce 3.9 million gallons of ethanol annually. A third, larger plant is planned, but the company has not announced that location. The company not only saves money on taxes by building in Mississippi but it also expects to save on things such a employee pay and benefits, a product of the state having a lower cost of living. The company is also in talks with the Mississippi Development Authority for additional incentives. Sally Williams, MDA (1) (Monochrome Display Adapter) The first IBM PC monochrome video display standard for text. Due to its lack of graphics, MDA cards were often replaced with Hercules cards, which provided both text and graphics. See PC display modes and Hercules Graphics. spokeswoman, would not comment on any possible offer for the company. The Fulton location is close to the client who would buy the product, Klann said, but he would not name the company. Traded on the Nasdaq under the symbol BFRE BFRE Besoin en Fonds de Roulement d'Exploitation (French: Working Capital Requirement for Exploitation) , the company's stock Friday closed at 90 cents a share, up 3 cents. It has a 52-week range of 51 cents to $1.99.To comment on this story, call LaRaye Brown at (601) 961-7280. characters Copyright : Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company |
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