A recent federal ruling paints a picture of the national alternative-fuels scene that closely mirrors what Lake County has experienced for four years in its trash-to-ethanol plan: lots of promises and no results.
Once more, the Lake County Solid Waste Management District Board of Directors have learned that investors are holding back on funding the waste-to-ethanol project until more is known about the process. Surprised? We didn't think so.
Lake County solid waste officials began their first meeting of 2013 in much the same position as the last of 2012 — still waiting to see if a long-proposed trash-to-ethanol project will come to fruition.
With yet another collapsed land deal, a fresh set of delays on financing decisions and a contract in limbo, some Lake County solid waste officials wonder if they are hearing the end of trash-to-ethanol.
A few days after Earl Powers pledged to county solid waste officials that financing for the trash-to-ethanol plant was all but locked up, he offered to sell his interest in the project, a Powers' business associate confirmed.
What had been billed as the moment when financiers would potentially endorse Lake County's trash-to-ethanol plan became another in a long line of failures of a would-be developer to produce, some county officials said Thursday.
Some county solid waste officials remain unconvinced trash-to-ethanol developer Powers Energy of America will secure financing from a major U.S. oil company.
Powers Energy of America remained in breach of contract with Lake County's solid waste board but was given another month to try to prove it can finance its long proposed trash-to-ethanol plant.
If a would-be trash-to-ethanol developer doesn't have the money in hand to complete its project by July 19, it doesn't have a deal with the county, a top solid waste district official says.
Lake County's trash-to-ethanol saga will continue — at least another 30 days — after solid waste district officials decided developer Earl Powers satisfied two benchmarks toward filling a perceived breach in his contract.
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