Company Name
Biofuels America

Company Web Site
http://www.biofuelsamericainc.com/

Headquarters
Memphis, TN

Latest News
May 20, 2009
Fledgling cellulosic ethanol company Biofuels America Inc. is seeking equity investments to advance proposed facilities in Tennessee and Illinois that will use a combination of wood waste and municipal solid waste to produce ethanol, lignin and furfural. CEO Pete Reeves, is confident investors will be enticed to participate in these projects because of the federal policy initiatives to assist in the build-up of this type of facility. The company planned to begin retrofitting a 35-acre Tennessee ethanol facility in early June. The plant has been idle for about eight years. However, Reeves said while the work would begin as scheduled, it could not be completed if the company fails to raise approximately $20 million within the next six months. Operations are expected to begin by 2010, with the initial capacity of 30 MMgy and gradually ramping up to 100 MMgy by 2014.

April 13, 2009
Memphis Firm Eyeing $62.3 Million Bio-Fuel Plant In Marion County
posted April 13, 2009

Memphis, Tennessee based Biofuelds America, Inc. is seeking roughly $20 million in equity investment towards development of a ligno-cellulosic bio-refinery called Project Tennessee in Marion County.

Pete Reeves, CEO, said Project Tennessee will be developed on a 35-acre closed ethanol facility and will utilize wood waste and municipal solid waste as feed stocks to produce ethanol, high value bio-chemicals such as lignin and furfural as well as electricity.

The plant is projected to cost $62.3 million and will create 80 green jobs.

The plant is slated for operation next year, he said.

The plant will initially produce 30 MMGY of ethanol with projections to produce 100 MMGY at full capacity by the end of its fourth year of operation.

The plant will process self-generating electricity for its own use. The excess energy estimated at 15MW will be sold to local utilities as electricity.

BFA has feedstock supply agreements in place and has an off take agreement from CHS to purchase and market its ethanol, it was stated.

Project Tennessee will draw part of its funding from public debt issued by the Industrial Development Board of Marion County in the amount of $20 million.

Mr. Reeves said Project Tennessee will utilize bank debt to finance a substantial portion of its development cost.

Based on projections, total bank participation required is $19.7 million.

BFA is currently in negotiations with SunTrust Bank to provide the debt facility. The debt facility will be partially guaranteed under the U.S. Department of Labor Section 9003 Bio-refinery Assistance Program. This federal program provides a guaranty to the lending institution of up to 80% of the borrower's indebtedness for development and construction of a commercial scale bio-refinery or for retrofitting an existing facility that uses eligible technology to develop bio-fuels.

Mr. Reeves said, "Our goal is to maintain a public/private funding structure and to partner with one or more equity providers that share our vision of producing alternative fuels and bio-chemicals to expand our business platform and to increase shareholder value. This investment opportunity is not limited just to Project Tennessee. BFA has plans to develop a number of other bio-refineries throughout the United States.

"Project plans are already underway for a plant in East St. Louis, Ill., and another in Mississippi. Future projects will be started once the initial three are brought on stream or are nearing completion."

Funding
No specific funding information.

Technology
(For information on our technology platform please contact, Kaye Ammer, V.P. Administrative Services by telephone: 901-577-1658 or
Email:kaye@biofuelsamericainc.com)