CoastalXethanol (Xethanol subsiadary) intends to retrofit the site to produce 35 million gallons per year of ethanol. The facility will produce ethanol from cellulosic and other biomass waste streams generated by industrial producers in the surrounding areas.
The keyword in Xethanol’s news release is ‘Intent’ so don’t consider this a done deal. We have seen several news releases from Xethanol this year about their ‘intentions’ but haven’t seen anything materialize. The only thing going for them is that they got their financing deal.
Xethanol still remains a risky investment that some think is worth getting into.
XNL.OB 1-yr chart: