Xethanol Corporation (AMEX:XNL), announced today that it will construct a 50 million gallon per year cellulosic ethanol plant, scheduled for operation by mid 2007, on the site it previously announced that it is acquiring from Pfizer pharmaceutical in Augusta, Georgia.
It is being designed to run on a variety of feedstocks and they have begun securing the necessary feedstock streams from the forest products industry so that they can run at capacity when they begin production by mid-2007. By combining Xethanol's proprietary technologies with those of PRAJ, they believe that they have achieved their goal of being a low-cost producer of fuel ethanol from cellulosic materials.
The Pfizer site has has millions of dollars in equipment and infrastructure in place and ready to use for ethanol production. This enables the company to save significant time and money in bringing their facilities on line. The Pfizer, 40 acre site includes: an 89,100 square foot manufacturing facility, a 25,000 square foot warehouse facility, 7,300 square feet of laboratory space, and 16,000 square feet of offices and conference rooms. This biomass-to-ethanol facility will be the first of its kind in the region. In addition, CoastalXethanol may produce biodiesel in this facility under Xethanol's sublicense from H2Diesel, Inc.