Fulcrum Bioenergy, Aiming to Produce ‘Net-Zero’ Jet Fuel From Plastic Waste, Hits Heavy Turbulence

5 months ago 40

The California company has defaulted on $289 million in Nevada bonds and put $500 million in financing for a facility in Indiana on hold. Meanwhile, U.S. senators don’t want tax credits financing plastics-to-jet-fuel schemes.

Six Senate Democrats last month sent a letter to the head of the Internal Revenue Service urging the federal tax agency to prohibit companies that make fuels from plastics and other petroleum products from qualifying for federal tax credits under the Inflation Reduction Act, President Biden’s landmark climate legislation. 

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