Chicago, IL – Fulcrum BioEnergy, Inc., a leader in renewable fuels since 2007, is now offering assets for sale as part of a Chapter 11 bankruptcy process. Development Specialists, Inc. (DSI), retained as financial advisor and investment banker, is managing the sale, which includes both Fulcrum Sierra BioFuels, LLC (Fulcrum BioFuels) and Fulcrum BioEnergy, Inc. (Fulcrum Parent).

Fulcrum’s flagship project, a waste-to-fuel biorefinery located 20 miles east of Reno, Nevada, has a design capacity of 11 million gallons per year of synthetic crude oil. This facility, capable of converting municipal solid waste into low-carbon fuels like SAF and renewable diesel using gasification and Fischer-Tropsch technologies, offers potential buyers a substantial opportunity to enter the growing sustainable fuels market. The biorefinery began initial operations in late 2023, producing 6,000 gallons of fuel, but has since undergone maintenance. Buyers will have the option to complete the necessary repairs or retrofit the facility with their preferred technology.

Assets for Sale:
Fulcrum BioFuels’ assets, included in the stalking horse bid by Switch, Ltd. for $15 million, encompass the biorefinery, a feedstock processing facility situated on 10 acres, agreements with NV Energy and local water suppliers, and various tangible assets like permits, licenses, and inventory. The parent company, Fulcrum BioEnergy, is offering additional Expanded Assets, including 14 U.S. patents, international patents, and pending applications, as well as equity in UK-based subsidiaries focused on SAF development.

“Fulcrum’s proprietary technology offers a unique opportunity for buyers to enter the growing renewable fuels market with advanced waste-to-fuel conversion capabilities,” said DSI.

Current Situation:
Fulcrum filed for Chapter 11 bankruptcy on September 9, 2024, following financial struggles. The sale is subject to bankruptcy court approval, with bids due by October 25, 2024, and an auction scheduled for November 1, 2024. DSI is overseeing the sale process, providing a unique opportunity for potential investors to acquire valuable renewable energy assets and intellectual property.

This asset sale highlights the potential of SAF and renewable diesel in reducing carbon emissions and addressing global energy needs, while Fulcrum’s proprietary technology provides prospective buyers with a competitive edge in the sustainable fuels market.

Sale Process and Timeline:

• Bid Deadline: October 25, 2024, at 4:00 pm (ET)
• Auction Date: November 1, 2024, at 10:00 am (ET)

Interested parties must submit a Nondisclosure Agreement (NDA), Letter of Intent, and proof of financial capacity to close.

Contacts:
For inquiries and additional information, contact Robert Dehney ([email protected]), Curtis Miller([email protected]), or Clint Carlisle ([email protected]).

Source: Development Specialists, Inc. Press Release