Gulf Ethanol Corporation: Grass Grows Under the Ethanol Industry
Thursday November 15, 11:24 am ET
HOUSTON--(BUSINESS WIRE)--Gulf Ethanol Corporation, (OTC:GFET - News). Gulf Ethanol announced today the formalization of its cellulose based ethanol initiative. Cellulose ethanol is a renewable, advanced biofuel that can be used in today’s cars. The primary difference between the two types of ethanol products is that conventional fuel ethanol is derived from grains such as corn and wheat. Cellulose ethanol is made from the non-food portion of renewable feedstocks such as sorghum, switchgrass and corn stover.
All automotive manufacturers warrant the use of 10% ethanol blends (E10). These same manufacturers warrant (E5), 5%, blends in Europe. Ethanol blends are sold at retail outlets across Canada, the United States and Europe. As well, Ford, DaimlerChrysler, General Motors, Mazda and many more vehicle manufacturers, sell cars, trucks and minivans that are flexible fuel vehicles designed to use ethanol in up to 85% (E85) blends.
“Dependence on fossil fuels and corn based ethanol create economic pressures that can be relieved by the use of non-food feedstocks to generate large quantities of renewable fuels,” noted CEO JT Cloud. “With 60% of America’s oil being imported, it is critical for America to develop efficient, renewable fuel sources. Renewable fuels, such as cellulose ethanol represent a low-cost domestic source of energy that generates both environmental and economic benefits to the U.S. economy,” he added.
Gulf Ethanol is aggressively developing its cellulose-based production strategy and expects to become a leader in the alternative fuels industry along side of companies such as ethanol producer MGP Ingredients (MGPI).
Meanwhile, auto companies like Ford (F) and General Motors (GM) are ramping up promotion of flex vehicles that run on E85 -- hoping they will catch on like hybrids that combine the use of electrical power and gasoline.
About Gulf Ethanol Corporation
Gulf Ethanol is an alternative energy company focused on the development of the cellulosic ethanol industry with a particular emphasis on Texas and the Gulf Coast. For more information please visit our homepage at: www.GulfEthanolCorp.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Contact:
Gulf Ethanol Corporation, Houston
William Carmichael, 713-461-9229
Fax: 713-461-9230
ir@gulfethanolcorp.com
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Source: Gulf Ethanol Corporation
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