Range Fuels Cellulosic Ethanol Plant Fails as U.S. Pulls Plug
This article is for subscribers only.
Range Fuels Inc., a cellulosic ethanol company backed by as much as $156 million in U.S. aid from President George W. Bush’s administration, is being forced by the government to liquidate its only factory after failing to produce the fuel and defaulting on a loan.
The closely held company, which counts Vinod Khosla, a venture capitalist and Sun Microsystems Inc. co-founder, as an initial investor, shuttered the factory in Soperton, Georgia, in January after not delivering on its promise to convert woodchips into ethanol, which was intended to help the U.S. become less dependent on foreign oil.