Fulcrum Withdraws Biofuel IPO Citing ‘Challenging’ Market

Fulcrum BioEnergy Inc. (FLCM), 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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.