BlueFire Renewables, Inc. (OTCBB: BFRE) announced an equity line agreement of common shares for gross proceeds of $10,000,000 on January 19, 2011. The round will see participation from new investor Lincoln Park Capital Fund, a fund managed by Lincoln Park Capital. The company will also issue warrants in the round at an exercise price of $0.55 per share for a term of five years from the date of issue. The company will also issue 600,000 shares of its common stock as a commitment fee and shall issue up to 600,000 shares pro rata as the investor purchases up to the remaining amount. The company will sell the shares over a 30 month period in amounts up to $500,000 per sale. The shares will be issued pursuant to Regulation D. Joseph M. Lucosky of Anslow & Jaclin LLP will act as a legal advisor to the company.

On the same day, the company issued 428,571 shares at $0.35 per share for gross proceeds of $150,000 in its first close. The company also issued warrants to purchase 428,571 shares of its common stock.

As of December 31, 2011, the company issued 1,119,377 shares for gross proceeds of $200,000 in its second tranche close.

As of December 31, 2012, BlueFire Renewables, Inc. (OTCPK:BFRE) closed the transaction. The company issued 235,465 shares for gross proceeds of $35,000 in its third and final tranche. The company raised aggregate gross proceeds of $385,000 in the transaction.