CleanTech Biofuels gets agent for $15 million equity private placement

Company negotiates financing agreement with Bauhaus Capital Partners

By Devika Patel

Knoxville, Tenn., April 27 - CleanTech Biofuels, Inc. engaged Bauhaus Capital Partners as its agent for a $15 million private placement of public equities on April 23, according to an 8-K filed Friday with the Securities and Exchange Commission.

Proceeds will be used to construct a commercially operating plant in Gary, Ind.; to reduce or eliminate outstanding debt or notes; to repurchase shares, rights or other obligations; for the development of technology, EPC capabilities and commercial production facilities; and for growth, marketing, working capital, project development, commercial deployments and general business development of production sites.

The University City, Mo., company provides cellulosic biomass derived from municipal solid waste as a feedstock for producing energy and other chemical products from biomass.

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