How 'bout this? Biodiesel company rejects $1m grant
It hasn't been a good time for first-gen biofuel producers. So, it comes as a pretty big surprise that a biodiesel company would reject a grant worth $1 million. The story of the Alternative Fuels Inc. can serve as a warning to anyone who wants to get in on biofuel production. Starting in March 2006, AFI began working on making biodiesel with algae. The company only lasted until November 2007, but thought about restarting the algae process in Pennsylvania after the closure. As part of the reopening, the state offered AFI the million dollars if they built the algae plant there. Last month, the company said "no thanks" because they had "problems producing algae-based fuel and instead began using waste oil, generating enough biodiesel to receive a relatively small $480 grant," according to Press Connects. AFI does make the grease biodiesel and could qualify for almost $2 million a year in state money if production ramps up. Think it's likely?
[Source: Press Connects]
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