DOE backs loan for $120M biofuels plant near Reno |

DOE backs loan for $120M biofuels plant near Reno

RENO (AP) – A California-based company has moved a step closer to building a $120 million biofuels plant near Reno that would create more than 50 full-time and 450 temporary jobs.

Officials for Fulcrum BioEnery Inc. of Pleasanton announced Tuesday the U.S. Department of Energy agreed to move ahead with the final phase of a loan guarantee needed to begin construction in Storey County about 30 miles east of Reno.

By 2012, the plant is expected to produce 10.5 million gallons of ethanol 16 megawatts of electricity annually by processing municipal solid waste.

Nevada Sen. Harry Reid praised DOE’s decision. He said: “In addition to putting Nevadans back to work, this plant will take a commonsense approach to creating clean energy and reducing our dependence on foreign oil by processing household garbage.”