$1 billion funded waste-to-fuel company could collapse
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Fulcrum BioEnergy, a clean fuel technology company, secured over $1 billion in funding to convert household waste into eco-friendly fuels for transportation. However, it faces collapse as it recently laid off almost all of its about 100 employees and suspended most operations.
This marks a significant setback in efforts to reduce emissions in the aviation sector, despite backing from major industry players like BP, United Airlines, Cathay Pacific, and Japan Airlines.
Since its establishment in 2007, Fulcrum, headquartered in Pleasanton, California, has been recognized as a significant contributor to the effort to create cleaner transportation fuels.
A major hurdle in this endeavor is sourcing cost-effective materials that produce large amounts of fuel while emitting fewer greenhouse gases.
Also read: Australia faces solar waste crisis as recycling facilities struggle to keep up
Fulcrum made strides in this area by pioneering the process of converting shredded landfill waste into liquid fuel through gasification.
Although technically complex, the concept of turning garbage into fuel has always been appealing due to the abundance and affordability of household waste without the need for additional land for energy crop cultivation.
“If you can get municipal waste into [sustainable aviation fuel], it’s a water-to-wine type project,” said Jim Davies, program director for sustainable flight at IAG SA, the parent company of British Airways, in an interview earlier this year.
Also read: Schneider Electric to automate India’s largest single-stage wastewater treatment plant
As of the end of last week, Fulcrum hasn’t declared bankruptcy, but it’s uncertain if there’s any chance of securing further financing.
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