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BlueFire Renewables (BFRE.OB) Inks Agreement with Cooper Marine & Timberland to Promote Biomass Production

|Includes: BlueFire Renewables, Inc. (BFRE)

BlueFire Renewables Inc. engages in the production of renewable fuels from non-food cellulosic wastes in a broader effort to alter fuel dependence. The company yesterday announced a 15-year contract with Cooper Marine & Timberland (NYSEMKT:CMT), in which CMT will provide feedstock for BlueFire’s planned cellulosic ethanol facility in Fulton, Miss.

CMT channels its resources to build one of the largest forest product systems in the South. CMT has established a self-contained cost base and through vertical integration covers every aspect in the sale and production of forest products.

Per the agreement, CMT will supply BlueFire’s project with enough feedstock to produce approximately 19-million gallons of ethanol per year from locally sourced cellulosic materials (wood chips, forest residual chips, pre-commercial thinnings and urban wood waste such as construction waste, storm debris, etc.).

Arnold Klann, CEO of BlueFire said the contract is a notable achievement for BlueFire as it moves toward successfully integrating cellulosic ethanol into the market.

“This agreement is another significant step forward for BlueFire and we are excited to have CMT’s participation in our Fulton Project. Coupled with our recently-announced off-take agreement with Tenaska BioFuels, LLC, the key input and output contracts Arnold Klann, CEO of BlueFire Renewables required for financing are now resolved.” Klann stated in the press release. “This is a very exciting time for BlueFire Renewables as we complete the final steps to bringing cellulosic ethanol to fruition in the U.S. marketplace.”

CMT has several chip mills in Mississippi and Alabama, and said biomass production is a key component in enriching local economies.

“Responsible biomass production has an important role to play in improving the state of local economies. We look forward to utilizing our extensive experience in biomass feedstock procurement and logistics in establishing a sustainable biomass feedstock supply chain for BlueFire’s Fulton Project,” Phil Willingham, executive vice president of CMT stated.
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