Xethanol Corp. (XNL) announced plans to develop ethanol production in Connecticut, Massachusetts, Rhode Island, New Hampshire, Maine and Vermont. To pursue its New England venture Xethanol announced the creation of NewEnglandXethanol LLC, which will be a joint venture between Xethanol Corp. and Global Energy Management LLC.
Also, NewEnglandXethanol may co-locate biodiesel production in its facilities under Xethanol’s sub-license from H2Diesel, Inc. (Yahoo and Mercury News)
In New England, Xethanol hopes to convert such materials as sludge from beer breweries, pulp from paper recycling, and homeowners’ grass clippings diverted from landfills. The company says it can even make ethanol from sugary leftovers from candy factories by mixing the sweets with special yeast. The company’s first project in the South - where Xethanol recently announced its initial East Coast expansion plans - involves converting an old paint factory in Savannah, Ga.
The fact is that we have seen announcements on plans to expand in South East, California and New England but haven’t seen anything material happen yet. However, the one thing the company does do well is market itself. Proceed with caution on this OTC BB stock.