Alternative Fuels Inc. has rejected a $1 million Pennsylvania grant to open an algae-based biodiesel fuel production plant in the Keystone State but still plans on operating there.
The company started at 11 Hall St. in Binghamton in March 2006, closed in November 2007 and later discussed plans to re-open in Pennsylvania. At the time, Richard Smith, the business's principal, also pursued up to $40 million in shareholder investment in the company to aid in business growth.
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