Gulf Ethanol Corp
HOUSTON--(BUSINESS WIRE)--Gulf Ethanol Corporation (OTC:GFET) announced today an agreement to acquire the exclusive rights to a break-through cellulose feed-stock processing technology. Gulf will have the exclusive right to deliver this exciting new technology solution to the ethanol industry.
Gulf Ethanol will obtain exclusive rights to a revolutionary technology developed by Meridian BioRefining, Inc. that processes cellulose feed-stocks so that they can be more efficiently converted into ethanol. The process dramatically improves portability while significantly improving process times and ethanol recovery from cellulose.
“This is the breakthrough that the ethanol industry has been seeking,” stated JT Cloud, Gulf Ethanol’s President. “This process will provide ethanol producers with the first cellulosic feed-stock that can be processed quickly and economically. We believe this will revolutionize the ethanol industry by accelerating the conversion of ethanol production in the U.S. from corn to cellulose in just a few years time,” he concluded. The first commercial scale processing unit has been completed by Meridian and is expected to undergo commercial testing prior to deployment in January 2008. Sources of cellulose include wood chips, grasses, sorghum and waste materials like corn stalks and straw. A recent report found that the U.S. is capable of producing a sustainable supply of 1.3 billion tons per year of biomass, and that one billion tons would be sufficient to replace 30 percent or more of America’s present petroleum consumption.About Gulf Ethanol Corporation
Gulf Ethanol is an alternative energy company focused on the development of the cellulosic ethanol industry with a particular emphasis on Texas and the Gulf Coast. For more information please visit our homepage at: www.GulfEthanolCorp.com. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.You should research all investments before committing
1 comment:
Those investors out there who are slam dunking the ethanol companies on propaganda news driven by "big" oil...Shame on you. The oil company investors should slam dunk them because ther are the ones causing food prices, etc. to skyrocket, buying their stock helps them double dip...So wake-up!
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