GeoNet Ethanol LLC, a U.S. Virgin Island company, will receive a Coastal Zone Management permit to construct an ethanol dehydration facility on the island. The dehydration unit will produce fuel grade ethanol from renewable sources for sale as a gasoline additive in the U.S. market.

"I am looking forward to working with Dedini, Demar and the St. Croix Renaissance Group to complete the erection, commissioning and start-up of the unit during the fourth quarter of 2006." -- J. Brent Baker, GeoNet Ethanol LLC, president and CEO