Xethanol becomes Global Energy Holdings, refocuses on biomass-to-energy, algae
In Georgia, Xethanol is no more, after a name change to Global Energy Holdings (GNH), and a change in strategy. The company will divest its ethanol investments, retaining an interest in a citrus-based ethanol plant in Florida, and concentrate on biomass-to-energy development and algae food and fuel development. The company’s initial algae project will focus on developing protein for a catfish farm.
A company spokesman said: “The company has a new management team led by CEO and activist shareholder David Ames, who made his fortune in the cable modem business as CEO of Convergence. David got bored counting his cable modem money and reluctantly took up the post of CEO of Xethanol at the request of the Board. He has spent the last two years cleaning out “the pirates” as he calls them and settling law suits.
“The re-launched company is now going to divest from its ethanol business and launch a new business model: Global Energy will simultaneously develop established alternative energy projects, like landfill-gas-to-energy and biomass, while investing in emerging tech, including algae.”
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