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BPS initiates coverage on BlueFire Renewables, Inc. (OTCMKTS:BFRE)

BPS initiates coverage on BlueFire Renewables, Inc. (OTCMKTS:BFRE)
Written by
Aaron Smith
Published on
October 27, 2014
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On 23rd October’14, BrilliantPennyStocks.com initiated coverage on BFRE. The stock moved up by 86.67% since the coverage was initiated.

IRVINE, California based renewable fuels solution provider BlueFire Renewables, Inc. (OTCMKTS:BFRE) announced late last week that it received a Letter of Intent from The Export Import Bank of China. The letter has in principal agrees to provide $270 million debt financing to its upcoming bio-energy project based in Fulton, Mississippi.

Analysts Express Hope Of An Encore

Analysts believe that this first funding of a U.S based project by the Export Import Bank of China, is a harbinger of much closer collaboration between Chinese and U.S entities in jointly executing renewable energy projects in U.S.

Dawn Of New Era

The development is being seen as a big shot in the arm for the small sized solar and clean energy players in U.S, since they can now attempt to raise capital for their capital intensive projects in China, rather than limiting themselves to approaching U.S based banks and investors.

CEO Predicts Good Times For SMB’s Looking For Capital From China

BlueFire Renewables, Inc. (OTCMKTS:BFRE) Chairman of the Board, President and Chief Executive Officer Arnold R. Klann went on to claim that Chinese bank funding to their project is a significant development. He has been quoted to have said that, “ This is a strong indication of China's commitment to support and fund U.S. renewable energy technologies to improve the environment and build a strong foundation for cooperation between China and the U.S. in the field of renewable energy."

Template For Future Co-operation

Mr. Klann in his comments to the press post the announcement, explained that the funding of BlueFire Renewables, Inc. (OTCMKTS:BFRE) clean energy project in U.S would serve as a template for other companies like his which are looking to do business with China or in China.

BlueFire Renewables, Inc. (OTCMKTS:BFRE) would be using the funds to build out its 19 million gallon capacity ethanol plant in Fulton, MS.

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