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IRVINE, CA (May 5, 2009) - BlueFire Ethanol
Fuels, Inc. (OTC BB:BFRE.OB - News), 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, was formed in
an effort to advance the research, development and
commercialization of biofuels in the United States.
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 of BlueFire Ethanol. "The
administration's support of biofuels technologies is a key step
toward full-scale commercial production of cellulosic ethanol 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
- 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.
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