Bloomberg News

Fulcrum Withdraws Biofuel IPO Citing ‘Challenging’ Market

November 30, 2012

Fulcrum BioEnergy Inc. (FLCM:US), a closely held company that produces ethanol from garbage, withdrew its registration for a planned initial public offering due to “challenging” market conditions, Chief Executive Office James Macias said.

The company has arranged $175 million in private financing to build its first commercial plant, Pleasanton, California- based Fulcrum said today in a statement. The project was awarded a $105 million U.S. loan guarantee in August and will process household garbage into 10 million gallons (38 million liters) of ethanol a year.

To contact the reporter on this story: Andrew Herndon in San Francisco at aherndon2@bloomberg.net

To contact the editor responsible for this story: Will Wade at wwade4@bloomberg.net


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