GreenFuel Cuts Staff, Outsources Aurantia Cement Factory Project
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Algae biofuel outfit GreenFuel Technologies has laid off 19 people, or about half of its staff, another sign of the difficulty that fledgling alternative fuels face.
A company representative confirmed the staff reduction on Monday and said one of GreenFuel’s two major customers–the Aurantia cement factory in Spain–remains a customer.
GreenFuel has developed a method for growing and harvesting algae in a greenhouse.
Company CEO Simon Upfill-Brown, who was recruited last year from Dow Chemical to head the 8-year-old firm, told Xconomy that the engineering for its Spanish deal, previously estimated at $92 million, will be outsourced.
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January 14th, 2009 at 3:44 pm
Outsource the Board of Directors, VP of Business Operations, the new CSO and CFO and then maybe you would have a company instead of GreenWashing the customers and public.