Fulcrum Bioenergy, a producer of biofuels through the conversion municipal solid waste (MSW), filed on Thursday with the SEC to raise up to $115 million in an initial public offering. Fulcrum’s proprietary process converts solid waste into ethanol without the use of alternative feedstocks, such as corn and sugarcane, which are subject to commodity and other pricing risks. The Pleasanton, CA-based company, which was founded in 2007, plans to list under the symbol FLCM but has yet to determine an exchange. UBS Investment Bank is the lead underwriter on the deal. Terms and timing are to be announced.
Fulcrum's S-1 filing comes one day after Elevance Renewable Science announced their intention to go public. The two companies follow a long list of alternative energy producers to file for an IPO within the past few months, including Genomatica (GENO), Mascoma (MSCA), Renewable Energy Group (REGI), and Enphase Energy (ENPH).
