This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Waste Management And Fulcrum BioEnergy Announce Strategic Investment

Stocks in this article: WM









HOUSTON and PLEASANTON, Calif., Nov. 18, 2011 /PRNewswire/ -- Waste Management, Inc. (NYSE: WM) today announced that it has closed an equity investment in Fulcrum BioEnergy , Inc. (Fulcrum). In connection with this investment, WM agreed to a secured loan facility that provides for WM's funding of up to $70 million for Fulcrum's proposed Sierra BioFuels plant upon the satisfaction of certain conditions.  The parties also entered into a master project development agreement to collaborate on the joint development of Fulcrum projects in various locations throughout the United States using municipal solid waste supplied by subsidiaries of Waste Management under long-term feedstock agreements.

(Logo: http://photos.prnewswire.com/prnh/20090219/WMLOGO)

"This investment underpins our commitment to supporting innovative technologies that extract the value in waste and converts it into clean renewable energy," said Joe Vaillancourt, managing director for Waste Management's Organic Growth Group. "We look forward to the development of Fulcrum's commercial-scale plant that is designed to convert over one hundred thousand tons of waste a year into clean, renewable transportation fuel."

"We're excited to enter this strategic relationship with Waste Management that enhances our financial resources and provides access to additional feedstock.  This allows us to expand our national development program that includes projects with the total capacity to produce more than one billion gallons of fuel annually," said E. James Macias, president and CEO of Fulcrum BioEnergy. "Waste Management joins a list of strategic partners that share our vision for turning waste into clean, domestic, advanced biofuels."

"The loan facility provides us with additional value as a back-up source of debt capital in the event we are not able to finalize a federal loan guarantee that we are pursuing," said Eric N. Pryor, vice president and CFO of Fulcrum BioEnergy.  "This investment provides us the financial resources to move forward with the construction of our Sierra BioFuels plant."

"Fulcrum is deploying an innovative proprietary system to convert post-recycled municipal solid waste into advanced biofuels.  Beginning with a thermochemical gasification system that converts the MSW into a syngas, Fulcrum has developed a proprietary alcohol synthesis process that efficiently and economically converts the syngas into advanced biofuels," added Macias. 

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs