Xethanol Announces Investment In Consus Ethanol, LLC
Business Wire:
Xethanol Corporation, a renewable energy company, has announced a $500,000 investment in Consus Ethanol, LLC of Pittsburgh, Pennsylvania pursuant to a convertible promissory note. Consus has a permitted site in western Pennsylvania, where it plans to build the first of several ethanol plants. Its business model calls for a cogeneration plant using waste coal to power the companion ethanol plant — allowing significant energy cost savings.
Consus estimates producing corn ethanol at a $0.48 per gallon advantage to a typical Midwest, natural gas powered plant. Its plant locations also permit Consus to charge East Coast prices for ethanol, which are among the highest in the nation.
Xethanol CEO and President David Ames commented, “We are excited to be participating in this venture with Consus as we believe that economically producing alternate energy is key to the future energy needs of the US.”
Consus CEO Eric P. Wallace said, “The environmentally friendly design of our cogeneration plant has won the full endorsement of the Commonwealth of Pennsylvania.”
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