ClearFuels Technology Inc., an çAiea company that is developing biorefineries with partners, said it had signed an agreement with BNP Paribas that calls for the European-based bank to assist it with debt financing.

Under the letter of engagement, BNP Paribas is to consider arranging and acting as the lead lender for debt financing on ClearFuels first three commercial projects.
ClearFuels is currently working with a partner on a Colorado-based demonstration project to produce liquid fuels from biomass. The company said it expects to move into commercial projects in the second half of next year.
It said it has begun development of several biomass-to-energy projects on the Mainland, Hawaiçi and internationally. BNP Paribas also is parent company of First Hawaiian Bank.