Drawing on years of experience in recycling and waste management, Fiberight, LLC has developed a proprietary process whereby municipal solid waste (MSW) is converted into cellulosic ethanol - essentially turning trash into a source of fuel. "We are very excited about Fiberight," commented Jim Long, Managing Director of VentureCross. "Once the process realizes its full potential, Fiberight will reduce the burden on municipal landfills while delivering a source of renewable fuel with the potential to lessen America's dependence on foreign oil."
VentureCross first invested into Fiberight in 2008 to prove that its process of converting waste fibers into biofuel could be deployed on a commercial scale. Using that initial investment, Fiberight leased an inactive Iowa corn ethanol plant and modified it to support the production of cellulosic ethanol. In early 2009, the plant produced several hundred gallons of transportation-grade fuel using the Fiberight process.
To support large-scale rollouts, Fiberight has developed a ‘Mini-Mill' approach that positions biorefineries close to both source materials and fuel users, thereby reducing the cost of transportation and logistics. The result is an industrial biofuels production facility built for less than the cost of pilot plants owned by other developers.
Based on the success of Fiberight's process trials, VentureCross' second round of investment in June 2009 enabled the company to complete the retrofitting of existing facilities and further refine its trash to fuel process. With those retrofits now complete, and plans for other facilities underway, Fiberight believes it can begin production of cellulosic ethanol on a commercially viable basis as early as Q1 of 2010.
For more information on Fiberight, please visit www.Fiberight.com or contact info@Fiberight.com
For more information on VentureCross, please visit www.venturecross.com or contact info@venturecross.com. or dial 703-386-1173.
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