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Secondary marketplace / Explore private companies / Fulcrum BioEnergy IPO
Fulcrum BioEnergy

Fulcrum BioEnergy IPO

$1.08B
Series D-8 Valuation, Jul 2022
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Fulcrum BioEnergy IPO date and status

2007
Founded
Sep 2024
Bankruptcy Filed Chapter 11

Company details

Fulcrum BioEnergy was founded in 2007 by E. James Macias and James A. C. McDermott. Fulcrum BioEnergy has not officially endorsed a plan to participate in an IPO.

Fulcrum BioEnergy is developing a commercially viable process to convert municipal solid waste into zero-carbon transportation fuels. Per Forge data, Fulcrum Bioenergy raised $281.1 million in funding over 12 rounds, with their latest funding being raised on Feb 16, 2023. Key investors include Cathay Pacific Airways, UK Department for Transport, Rustic Canyon Partners, SK Holdings, and United Airlines.

These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.

Sector
Subsector
Founded
2007
Headquarters
Pleasanton, CA, United States
Founder
James McDermott
Forge Price 1
Price not yet available
Market Activity 2
Limited
Last Matched Price
Post-Money Valuation 3
$1.08B
Total Funding
$463.93MM
Last Funding Round
Series D-8

Learn more about Fulcrum BioEnergy

To invest in Fulcrum BioEnergy pre-IPO

Can you invest in Fulcrum BioEnergy pre-IPO?

Fulcrum BioEnergy is privately held and not traded on public markets, so pre-IPO investments are available only to accredited investors.

If you’re already accredited and have completed Forge’s verification, you can visit our marketplace to review and invest in private companies ahead of an IPO.

If you haven’t yet completed your accredited investor verification with Forge, you can start that process now to unlock access to new private-company offerings.

For more on who qualifies—and how to get verified—see our blog “Accredited investors, qualified clients and qualified purchasers: Who can invest?

Can you sell shares of Fulcrum BioEnergy before it goes public?

Yes, subject to any contractual or corporate transfer restrictions, it is possible to list your shares to sell while Fulcrum BioEnergy is still private. If you’re considering selling, you can register today for free to get started. Once registered, you can evaluate pricing insights and market activity to inform your decision, then post your shares for sale and set the terms, like quantity and price—all directly through our platform.

If you’d like additional guidance at any point, Forge private market specialists are available to help. For a step-by-step overview, check out our seller’s guide.

What is the pre-IPO value of my Fulcrum BioEnergy shares?

To explore the value of your Fulcrum BioEnergy shares, create a free account to access Forge’s marketplace. Once inside, you’ll find several pricing insights to help guide your decision—these include historical transaction data, a live order book showing current buy and sell interest, and Forge Price™, a derived, indicative price based on recent transactions, investor activity, and other relevant market data.

These insights can help you determine a price you’re comfortable with if you choose to sell your shares. If you’d like additional guidance along the way, Forge private market specialists are available to help. You can also review our seller’s guide for a step-by-step overview.

Is Fulcrum BioEnergy a publicly traded company?

Fulcrum BioEnergy is a private company and not publicly traded.

If you’re interested in buying or selling shares in private companies, you can register with Forge today for free to explore available opportunities. Once registered, you’ll gain access to our marketplace, where you can view active buy and sell interest, evaluate pricing signals and take action directly through the platform.

To learn more about Fulcrum BioEnergy potential IPO

Will Fulcrum BioEnergy go IPO?

Fulcrum BioEnergy has not yet filed for an IPO. However, it’s important to note that IPOs are not the sole avenue for a private company to transition to public trading. Private companies can also go public through alternative methods such as but limited to Special Purpose Acquisition Companies (SPACs), direct listings, or mergers and acquisitions. Find out which companies are eyeing an IPO on our Tech IPO Calendar 2025.

What is Fulcrum BioEnergy’s IPO price?

The Fulcrum BioEnergy IPO price does not exist at this time, as Fulcrum BioEnergy is still a private company and has not yet conducted an IPO. To explore secondary market data and access private market pricing details and data that may be related to Fulcrum BioEnergy, register for Forge today.

When was Fulcrum BioEnergy founded?

Fulcrum BioEnergy was founded in 2007.

What is Fulcrum BioEnergy funding to date?

Fulcrum BioEnergy has raised $463.93MM to date.

Fulcrum BioEnergy pre-IPO valuation and funding rounds

Funding history chart
Funding round and deals details
Funding Date Round Amount Raised Price per Share Post-Money Valuation 3 Key Investors
07/12/2022 Series D-8 $20MM $6.00 $1.08B Sk Innovation
Price per Share
$ xx.xx
Shares Outstanding
3,333,333
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Sk Innovation
12/16/2021 Series D-7-5 $10MM $5.24 $940.56MM Sk Innovation
Price per Share
$ xx.xx
Shares Outstanding
1,908,397
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Sk Innovation
12/16/2021 Series D-7-7 $10MM $5.24 $940.56MM Sk Innovation
Price per Share
$ xx.xx
Shares Outstanding
1,908,397
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Sk Innovation
12/16/2021 Series D-7-4 $10MM $5.24 $940.56MM Sk Innovation
Price per Share
$ xx.xx
Shares Outstanding
1,908,397
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Sk Innovation
12/16/2021 Series D-7-6 $10MM $5.24 $940.56MM Sk Innovation
Price per Share
$ xx.xx
Shares Outstanding
1,908,397
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Sk Innovation
12/16/2021 Series D-7-3 $10MM $5.24 $940.56MM Sk Innovation
Price per Share
$ xx.xx
Shares Outstanding
1,908,397
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Sk Innovation
07/17/2020 Series D-7-2 $2.5MM $5.24 $881.74MM Undisclosed Investors
Price per Share
$ xx.xx
Shares Outstanding
477,099
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Undisclosed Investors
07/17/2020 Series D-7-1 $2.5MM $5.24 $881.74MM Undisclosed Investors
Price per Share
$ xx.xx
Shares Outstanding
477,099
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Undisclosed Investors
07/12/2019 Series D-7 $19MM $5.24 $875.85MM Undisclosed Investors
Price per Share
$ xx.xx
Shares Outstanding
3,625,954
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Undisclosed Investors
09/19/2018 Series D-6 $20MM $4.90 $798.12MM Undisclosed Investors
Price per Share
$ xx.xx
Shares Outstanding
4,081,632
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Undisclosed Investors
10/26/2017 Series D-4-1 $27.92MM $2.68 $701.88MM Undisclosed Investors
Price per Share
$ xx.xx
Shares Outstanding
10,419,402
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Undisclosed Investors
10/26/2017 Series D-5 $25MM $4.44 $701.88MM Undisclosed Investors
Price per Share
$ xx.xx
Shares Outstanding
5,630,631
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Undisclosed Investors
10/26/2017 Series D-4 $12.88MM $4.44 $701.88MM Undisclosed Investors
Price per Share
$ xx.xx
Shares Outstanding
2,900,000
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Undisclosed Investors
07/24/2017 Series D-3 $5MM $4.44 $602.89MM Undisclosed Investors
Price per Share
$ xx.xx
Shares Outstanding
1,126,126
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Undisclosed Investors
11/08/2016 Series D-2 $30MM $3.76 $537.17MM Bp
Price per Share
$ xx.xx
Shares Outstanding
7,978,724
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Bp
06/22/2015 Series D-1 $30MM $3.22 $456.44MM Undisclosed Investors
Price per Share
$ xx.xx
Shares Outstanding
9,316,770
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Undisclosed Investors
02/15/2015 Series D $10MM $3.09 $399.63MM Undisclosed Investors
Price per Share
$ xx.xx
Shares Outstanding
3,236,246
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Undisclosed Investors
08/07/2014 Series C-3 $60.18MM $3.09 $413.88MM Cathay Pacific Airways
Price per Share
$ xx.xx
Shares Outstanding
19,475,728
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Cathay Pacific Airways
01/25/2011 Series C-1 $107.05MM $2.67 $305.14MM Rustic Canyon Partners, U.S. Renewables
Price per Share
$ xx.xx
Shares Outstanding
40,092,084
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Rustic Canyon Partners, U.S. Renewables
06/23/2010 Series B-2 $26.9MM $2.00 $113.97MM Rustic Canyon Partners, U.S. Renewables
Price per Share
$ xx.xx
Shares Outstanding
13,450,762
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Rustic Canyon Partners, U.S. Renewables
07/24/2008 Series B-1 $14MM $1.00 $37.71MM Rustic Canyon Partners, U.S. Renewables
Price per Share
$ xx.xx
Shares Outstanding
14,000,000
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Rustic Canyon Partners, U.S. Renewables
08/09/2007 Series A $1MM $0.15 $2.22MM Rustic Canyon Partners, U.S. Renewables
Price per Share
$ xx.xx
Shares Outstanding
6,741,573
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Rustic Canyon Partners, U.S. Renewables

Fulcrum BioEnergy IPO news and media highlights

NCET Biz Tips: Bioenergy Takes Center Stage | Serving Northern Nevada

Fulcrum BioEnergy, a clean energy company based in Reno, has successfully converted landfill waste into renewable fuel. The company's Sierra BioFuels plant can convert 175,000 tons of landfill waste into approximately 11 million gallons of renewable syncrude annually. Fulcrum recently shipped the world's first railcar of syncrude made from landfill waste to Marathon Petroleum for upgrading into fuel. The company also received a $20.2 million grant from the UK Department for Transport Advanced Fuels Fund to support the development of a waste-to-sustainable aviation facility.

Fulcrum BioEnergy awarded £16.8m grant for its UK waste-to-fuel project

Fulcrum BioEnergy's UK subsidiary has been awarded a £16.8m ($20.2m) grant from the UK Department for Transport's Advanced Fuels Fund. The grant will support the development of Fulcrum NorthPoint, a waste-to-sustainable aviation fuel facility in Cheshire, England. The plant, expected to be operational in 2027, will convert waste into low-carbon sustainable aviation fuel.
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Updated on: Jul 16, 2025

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