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Fulcrum Withdraws Biofuel IPO Citing ‘Challenging’ Market

Nov. 30 (Bloomberg) -- Fulcrum BioEnergy Inc., 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.

Link to Statement:{NSN MEBL253MMTC0 <GO>}

Link to Company News:{FLCM US <Equity> CN <GO>}

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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