Financiers deem cellulosic ethanol too risky, executives say

04/26/2010 | Minnesota Public Radio

Lack of financing is hampering the development of cellulosic ethanol, according to Arnold Klann, an executive at BlueFire Ethanol. "What we're hearing from all the lenders, and we've talked to over 50 of them, [is] everybody wants to be first to finance the second project," Klann said. "No reputable institution that lends money is going to lend money on something that's unproven," said Charles Elfsten, owner of Ocean Pacific Capital, which has offered financing to 11 corn-based ethanol plants.

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