U.S Fuel Corp. (fka USFF)

[otis1111]

more money for ethanol....when is our day???
Xethanol Raises up to $46 Million in Equity Capital
2006-04-04 08:00 (New York)


NEW YORK--(BUSINESS WIRE)--April 4, 2006
Xethanol Corporation (OTCBB:XTHN), a biotechnology
driven ethanol company, announced today that it has signed definitive
agreements for up to $46 million in two separate equity financing
transactions.
Under the terms of the first transaction, Xethanol will initially
receive approximately $30 million from the issuance of shares of its
common stock to institutional and private investors. Additionally,
over the next three years, Xethanol could receive up to an additional
$10.6 million from the exercise of warrants issued to these investors.
More details and terms of the transaction will be made available in
the Company's upcoming filing of form 8-K with the Securities and
Exchange Commission. As part of this transaction, the company has
agreed to file a resale registration statement on Form SB-2 with the
Securities and Exchange Commission within 30 days following the
closing for the purpose of registering for resale the shares of common
stock sold in the financing.
Under the terms of the second transaction, Xethanol will initially
receive $4 million from the issuance of shares of its common stock to
Goldman Sachs & Co. Additionally, over the next three years, Xethanol
could receive up to an additional $1.4 million from the exercise of
warrants issued to Goldman Sachs. More details and terms of the
transaction will be made available in the Company's upcoming filing of
form 8-K with the Securities and Exchange Commission.
Christopher d'Arnaud-Taylor, Chairman and CEO of Xethanol stated
"We have been steadily building our business opportunities over the
last year in preparation for this significant capital infusion which
will now allow us to execute these plans. They include the expansion
of our existing facilities, new plants in the southeast and northeast
regions, and, most importantly, the integration and commercialization
of our technologies. Having this capital really marks the beginning of
our ability to realize our stated goal of being a leader in the
emerging biomass-to-ethanol industry by employing cutting edge
technologies in the conversion of low-cost biomass and other waste
streams."
Mr. d'Arnaud-Taylor further stated "The Company is extremely
fortunate to gain the support of the investors participating in these
financings. It is gratifying to see our business model validated."

About Xethanol Corporation

Xethanol Corporation's goal is to be the leader in the emerging
biomass-to-ethanol industry. Xethanol's mission is to optimize the use
of biomass in the renewable energy field and convert biomass that is
currently being abandoned or land filled into ethanol and other
valuable co-products, especially xylitol. Xethanol's strategy is to
deploy proprietary biotechnologies that will extract and ferment the
sugars trapped in these biomass waste concentrations. Xethanol's
strategic value proposition is to produce ethanol and valuable
co-products cost effectively with ethanol plants located closer to
biomass sources. In Iowa, Xethanol owns two ethanol production
facilities, where it is deploying these technologies. For more
information about Xethanol, please visit its website at
http://www.xethanol.com.

Forward-Looking Statements

Certain matters discussed in this press release are
"forward-looking statements." These forward-looking statements can
generally be identified as such because the context of the statement
will include words, such as "expects," "should," "believes,"
"anticipates" or words of similar import. Similarly, statements that
describe Xethanol's future plans, objectives or goals are also
forward-looking statements. Such forward-looking statements are
subject to certain risks and uncertainties, including the financial
performance of Xethanol, as appropriate, which could cause actual
results to differ materially from those currently anticipated.
Although Xethanol believe the expectations reflected in any
forward-looking statements are based on reasonable assumptions, it
cannot give any assurance that their expectations will be attained.
Shareholders, potential investors and other readers are urged to
consider these factors carefully in evaluating any forward-looking
statements. Certain factors could cause results and conditions to
differ materially from those projected in these forward-looking
statements, and some of these factors are discussed below. These
factors are not exhaustive. New factors, risks and uncertainties may
emerge from time to time that may affect the forward-looking
statements made herein. These forward-looking statements are only made
as of the date of this press release and Xethanol does not undertake
any obligation to publicly update such forward-looking statements to
reflect subsequent events or circumstances.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.