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Gulf Ethanol Completes Site Selection for Ethanol Production Plant

Posted on: Tuesday, 14 August 2007, 12:21 CDT

Gulf Ethanol Corporation, (OTC:GFET), announced today that it has completed its site selection process and has signed the initial contract near China, Texas. The land is located adjacent to rail and highway transportation facilities to provide for the efficient delivery of food stocks and shipping of finished ethanol products.

"As we advance the development of ethanol production along the Gulf Coast, we are excited to announce this important step forward," stated JT Cloud, Gulf's President. "We expect this plant to be a major contribution to the economy of the community and an important step forward for the development of alternative energy in Texas," he added.

Gulf Ethanol plans to develop its plant to use non-food based, cellulosic feedstocks for the production of ethanol at its plants. It expects the Texas plant to operate using a new hybrid sorghum developed specifically as an ethanol feedstock by Texas A&M University.

"As ethanol becomes the alternative fuel of choice for America's automobiles, we see the focus shifting strongly to feed-stocks that do not impact the food supply," noted Mr. Cloud. "We announced our search for a plant site a few weeks back and we are pleased to have completed this important step forward," he concluded.

Last month, Texas Gov. Rick Perry outlined a new bioenergy strategy that will encourage more research at state universities on non-corn ethanol and other renewables, with an eye toward getting them to market faster. As part of the effort, he pledged $5 million to Texas A&M for research.

Verenium Corporation (NASDAQ:VRNM) has disclosed its plans to build a commercial-scale production plant capable of making 30 million gallons of cellulosic ethanol per year to start. Verenium has an option to buy 600 acres of land between Nome and Winnie for a plant site and is in the process of signing up farmers to produce feedstock dedicated to its ethanol production needs.

About Gulf Ethanol Corporation:

Gulf Ethanol is developing ethanol production along the Gulf Coast. Gulf Ethanol is committed to using non-food feed stocks for the production of ethanol rather than corn or sugar cane, which have now been shown to be expensive fuel sources that negatively impact food prices. For more information please visit our homepage at: http://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.

Source: Business Wire

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