Post by Logan on Feb 14, 2016 5:53:06 GMT -6
RENO — Inventor and entrepreneur Peter Gunnerman thought his business prospects were looking pretty good back in 2013.
His new GDiesel fuel, created with a patented low-pressure, low-temperature process to make it burn cleaner than regular or biodiesel by using natural gas to change its molecular structure, was selling well with no issues.
He and his father, Rudolph, invested $15 million of the family's money to build a large-scale plant to produce GDiesel in the Tahoe-Reno Industrial Center under the company name of Advanced Refining Concepts. He was selling the fuel locally and trucking it to Southern Nevada, where Clark County was using it in its fleet including airport shuttles at McCarran International Airport.
But a Kafkaesque series of conflicting and inconsistent Internal Revenue Service rulings undermined his fledgling business. Today, the production plant is shuttered, 28 jobs have been lost and plans to expand the business to Las Vegas and beyond have stalled.
Read more: www.reviewjournal.com/news/nevada/bright-prospects-growing-business-reno-crushed-irs-rulings
His new GDiesel fuel, created with a patented low-pressure, low-temperature process to make it burn cleaner than regular or biodiesel by using natural gas to change its molecular structure, was selling well with no issues.
He and his father, Rudolph, invested $15 million of the family's money to build a large-scale plant to produce GDiesel in the Tahoe-Reno Industrial Center under the company name of Advanced Refining Concepts. He was selling the fuel locally and trucking it to Southern Nevada, where Clark County was using it in its fleet including airport shuttles at McCarran International Airport.
But a Kafkaesque series of conflicting and inconsistent Internal Revenue Service rulings undermined his fledgling business. Today, the production plant is shuttered, 28 jobs have been lost and plans to expand the business to Las Vegas and beyond have stalled.
Read more: www.reviewjournal.com/news/nevada/bright-prospects-growing-business-reno-crushed-irs-rulings