Xethanol invests $500K in Consus Ethanol’s waste coal-fired ethanol project; unique power supply, proximity to East Coast, point to higher margins

January 23, 2008

In New York, Xethanol Corporation announced that it would invest $500,000 in Consus Ethanol for its cogeneration project that would provide power for its ethanol production process from waste coal, that would have a $0.48 per gallon cost advantage over comparable ethanol plants in the Midwest powered by natural gas. The Pittsburgh-based facility will distribute fuel to East Coast markets, which have higher prices for ethanol.

Despite losing more than a third of its market value since last August, Xethanol (XNL) has continued to pursue its cellulosic and first-generation ethanol development efforts.
The company’s $20 million cellulosic ethanol plant in Spring Hope is one of the few North Carolina projects that is continuing to proceed amongst financing difficulties that have recently plagued the industry.

Xethanol’s Southland Biofuels subsidiary received a $500,000 grant this week from the state of Florida towards its $6.4 million pilot plant in Auburndale that will produce ethanol from citrus waste.

Iowa needs $2 billion in coal-fired electricity production to supply power for ethanol; critics say coal use “ungreens” ethanol

Two coal-fired electricity plants, in Marshalltown and near Waterloo, have been proposed in Iowa to provide electricity for the growing collection of Iowa ethanol plants. Critics say that ethanol's ne...

Xethanol to cancel two projects, losing money at only operating facility; faces American Stock Exchange delisting

In New York, Xethanol said that it would discontinue development at two sites in Georgia and North Carolina, and that it was losing money at a 5.6 Mgy facility in Iowa that represented its sole operat...

Today in Biofuels: Florida awards $25 million to next-gen biofuels projects; EU to issue palm oil biodiesel ban, tariff on US; algae car demo’d at Sundance Festival; exposÃ© on Brazilian sugarcane industry to air on Bloomberg

Top Story:The Florida state government awarded grants totaling $25 million to 12 next-gen biofuel projects as the state moves forward with its Farm-to-Fuel goal of producing 25 percent of Florida's en...

East Coast Ethanol abandons proposed ethanol project in North Carolina

In North Carolina, East Coast Ethanol has canceled plans to develop an ethanol plant in Selma. The company withdrew an application for re-zomning. but did not announce the reasons for the decision. ...

East Coast Energy Solutions to build 40 Mgy corn ethanol plant in New Jersey

In New Jersey, East Coast Energy Solutions announced plans for a 40 Mgy corn ethanol plant in Belvidere. The $120 million project will create 40 jobs, and serve East Coast refineries along the New Je...

East Coast Ethanol announces 110 Mgy corn ethanol plant in North Carolina

In North Carolina, East Coast Ethanol will announce today a 110 Mgy, $212 million corn ethanol project near Seaboard in Northampton County. The project is one of four 110 Mgy facilities in the Southea...

Written by Jim Lane · Filed Under Biofuels Digest Index (BDI), Producer News