Xethanol Acquires Cellulosic Ethanol Plant in NC

Xethanol Corporation, a biotechnology-driven ethanol company, acquired a former medium-density fiberboard factory in Spring Hope, North Carolina, from Carolina Fiberboard Corporation LLC.

“We are very excited by the closing of this transaction as it represents a further milestone in our planned expansion on the east coast,” said David Ames, President and CEO of Xethanol. “This acquisition provides Xethanol the opportunity to save both time and money as we seek to achieve our ethanol production goals and also furthers our technology development,” said Ames. “We plan to re-open the facility in 2007 as a pilot plant to demonstrate the technical feasibility and economic viability of using wood chips as a cellulosic feedstock. North Carolina has an excellent scientific community to work with, is close to our existing R&D facility at Virginia Tech and provides an abundant supply of hardwood feedstock with which to carry out development work in the cellulosic arena,” Ames explained. “The plant has existing production infrastructure that can rapidly be adapted,” said Thomas Endres, Xethanol’s Senior Vice President of Operations commented. “There are powerful digesters onsite fed by a large scale, biomass preprocessing module that is in working order. We are planning to start with a five million gallon per year pilot plant fed by one digester that we expect to bring on stream in approximately six months.” The purchase of this facility is Xethanol’s second of this year. In August, the company completed its acquisition of a former pharmaceutical facility in Augusta, Georgia.
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