💥New Chapter 11 Bankruptcy - Fulcrum BioEnergy Inc.💥

Failed energy project lives long enough to get new ownership.

On September 9, 2024, CA-based Fulcrum BioEnergy Inc. (the “company”) and three affiliates (collectively, the “debtors”) filed chapter 11 bankruptcy cases in the District of Delaware (Judge Horan). The company, according to the first-day declaration of CRO Mark Smith, is the “first of its kind” and “...represents a revolutionary idea with grand potential to impact the global environmental landscape….” Wait, “idea”? So the debtors don’t have a salable product or service? It is just a concept? Is this a venture pitch or a first day declaration?