SFC Energy

DE0007568578

The Synthetic Fuels Corporation (SFC or Synfuels Corporation) was a U.S. government-funded corporation established in 1980 by the Energy Security Act (ESA) to create a financial bridge for the development and construction of commercial synthetic fuel manufacturing plants (such as coal gasification) that would produce alternatives to imported fossil fuels. With a seven-member board of directors, the corporation received $20 billion in initial funding to be used in joint ventures with private firms (primarily oil and gas companies), not only to construct plants, but also to help finance coal mines or transportation facilities. The SFC also researched and promoted the use of alcohol fuels, solar energy, and the production of fuel from urban waste. Over its 6-year existence, the SFC only spent approximately $960 million (barely one tenth of its initial 1980 budget) to fund four synthetic fuels projects, none of which survive today. The corporation was abolished in April 1986.

SFC Energy was a target of short sellers in the past, but no short positions have been reported for 39 days.

History