Gulf Ethanol Corporation (Pinksheets: GFET) has completed the financing for its prototype bioprocessing unit and expects to take delivery on the equipment within thirty days.
The unit is designed to preprocess cellulosic biomass into a very fine powder that will enhance ethanol production. Vortex Ventures, a Houston-based equipment engineering and manufacturing firm, is in the final stages of assembly of the unit. Vortex Ventures owns the intellectual property related to materials separation used in the equipment and Gulf Ethanol is the exclusive distributor of these units as related to ethanol production.
Gulf Ethanol expects to begin testing the unit, upon delivery, to establish performance parameters for throughput, scalability, drying capacities and other elements critical to cellulosic ethanol production. "We believe that once these key factors are quantified, we will be able to market our system and establish an early path to revenue for the company," stated William Carmichael, President of Gulf Ethanol Corp.
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.
