I lost interest in this one back when they announced that they were going to build an ethanol plant in Brazil. Brazil currently has the capacity to increase production 3 fold.The ethanol players in Brazil do not need another plant,what they could use is partnerships with well healed companies willing to invest in the infrastructure dealing with the transportation of the ethanol to port. The feedstock that Brazilian companies use is sugarcane.Sugar growers are subsidized in Brazil much like our government subsidizes our agricultural industry. Sugarcane is quickly transformed into pure ethanol through fermentation(sugar molecules). One easy step. The cellulosic process that GLXI was crooning about(taking waste product,treating it and then fermenting process)is something that has been studied and is currently in limited use. Check out DYADIC-GROUP.com among others.GLXI press releases said that the planned feedstocks included rice hulk,corn husks and wood. These would not be the feedstocks of choice in Brazil.The left over cane(called bagasse) provides heat in the distillation process and is also a the feedstock in cellulosic ethanol being produced in Brazil. The process(cellulosic ethanol) that GLXI was pitching is being used in North America. Fast forward to 2007 when GLXI made a U-turn and stated that Ethanol plans were off the table due to the unethical way Brazil does business. Instead of producing ethanol GLXI was going to license their cellulosic technology around the world and mine Uranium instead. Cellulosic technology is being used around the world.However,this technology does not belong to GLXI(check Dupont among other companies) Furthemore,the tariff to import ethanol from Brazil to the U.S. amounts to a charge of over 60 cents on EACH and every gallon imported. If GLXI was going to get into the ethanol business using a cellulosic technique the logical location to do this would have been in the U.S. or even Canada(NAFTA). I concluded that GLXI figured that tracking their progress(or lack of) in the U.S. or Canada would be much easier for investors to do when compared with trying to verify what they were up to(or not up to) in Brazil. So based on this I concluded that GLXI was not for me. FWIW-IMO
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