By San Francisco Business Times

Fulcrum BioEnergy is one step closer to turning garbage into clean fuel or power.

The company raised $75 million in a Series C round of financing that will allow it to build its Sierra BioFuels plant. That $120 million plant, Fulcrumâ¿¿s first commercial scale plant, will be able to convert waste into ethanol, renewable electricity or renewable chemicals for the Reno, Nevada market. Itâ¿¿s expected to come online in 2012.

Fulcrum would not disclose the source of it's funding.

Earlier this month, Fulcrum announced it had contracts in place with Waste Management of Nevada and Waste Connections Inc. of Folsom, which will supply solid waste and garbage to the plant for processing.

Fulcrum BioEnergy is based in Pleasanton and has 17 employees.

In 2009, CEO James Macias told the Business Times the company was applying for a U.S. Department of Energy federal loan guarantee and in November 2010 the company said it was selected "to enter the final phase of DOE's Loan Guarantee Program." The government has yet to announce any loan award to Fulcrum but a spokesman says the company expects the loan within two-to-three months.

Copyright 2011 American City Business Journals

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