Message #19 From:
NewsBot Date: January 11, 2008 09:23:43 AM
Gulf Ethanol Retains National Laboratory to Test Cellulosic Products
Gulf Ethanol Corporation (OTC:GFET) announced today that it has retained
the services of Microbac Laboratories, Inc. to test cellulosic feed
stocks processed under its license with Meridian Biorefining, Inc.
Microbac works directly with the National Renewable Energy Laboratory
(NREL) and brings over 15 years of experience analyzing biomass products
for major U.S. corporations.
In December, Gulf Ethanol retained the consulting firm of Muse Stancil
as consulting engineers for the deployment of its cellulosic ethanol
technology. In the fourth quarter, Gulf acquired the exclusive rights to
a revolutionary cellulosic processing technology, from Meridian
Biorefining, Inc. that creates a powdered cellulose that studies show is
far more effective as an ethanol feed-stock than anything available
today. Muse Stancil will assist Gulf Ethanol with the final design,
deployment and financing of its cellulosic ethanol technology.
“We continue to execute the deployment of this
revolutionary technology on the schedule we announced in December,”
noted JT Cloud, Gulf’s President. “As
we bring this disruptive and innovative technology to the market, we
believe it will make cellulosic ethanol practical for the first time,”
he added. “Now, we are bringing in strong
technical partners to validate and support each step of our execution
plan such as Muse Stancil and Microbac Laboratories,”
he concluded.
The development of alternative transportation fuels is important to
America’s energy independence. Biofuels have
stumbled in recent months due to their dependence of food crops for
feed-stocks. Companies such as Archer Daniels Midland [NYSE:ADM]
and Bunge Limited [NYSE:BG]
have led in the development of biofuel feed-stocks. Food based feed
stocks rise in price as production increases which means that the more
ethanol made from food-stocks, the less efficient it becomes. “This
is why we believe cellulose will help America take one big step forward
in its quest for energy independence,” said
Mr. Cloud. As ethanol becomes a ubiquitous source of alternative energy,
most major gasoline suppliers now include ethanol in their gasoline
blends. Major suppliers such as Exxon Mobil Corp. [NYSE:XOM];
British Petroleum, [NYSE:BP]
include ethanol in current gasoline blends sold across America and
demand for ethanol is expected to continue to increase.
About Gulf Ethanol Corporation
Gulf Ethanol, [OTC:GFET]
is an alternative energy company focused on the development of
cellulosic ethanol technologies with a particular emphasis on Texas and
the Gulf Coast. They hold an exclusive license to a cellulosic feedstock
pre-processing technology that they intend to deploy in cooperation with
Meridian Biorefining through a joint venture. 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.
Gulf Ethanol Corporation William Carmichael, 713-461-9229 Fax:
713-461-9230 ir@gulfethanolcorp.com
