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Gulf Ethanol to Fund Final Commercialization of Cellulose Technology

Posted on: Monday, 3 December 2007, 09:00 CST

Gulf Ethanol Corporation, (OTC:GFET) announced today that it will fund the final commercial testing and engineering of its cellulose feed-stock processing technology beginning in December. Gulf Ethanol recently acquired the exclusive right to a revolutionary new technology, developed by Meridian Biorefining, Inc., that creates a fungible cellulose that Auburn University studies show is far more effective as an ethanol feed-stock than anything available today.

Beginning in December, the first commercial processing unit will be moved to its permanent location near Houston for final testing. After final set up and configuration, Gulf will fund the testing of multiple cellulose feed stocks using this new machine. The end product -- an extremely fine cellulose powder -- will then be sent to multiple cellulosic ethanol companies and independent laboratories for final testing and analysis so that all results are fully verified. Gulf will then fund the development of complete engineering plans for the retrofit of existing corn-based plants into cellulosic ethanol facilities. By mid-2008, the Company expects to begin construction on processing facilities for its first commercial partners.

"Our process will, for the first time, make cellulosic ethanol production both efficient and widespread," noted JT Cloud, President of Gulf Ethanol. "We will focus on implementing cellulose processing units at underperforming existing plants operating on far more expensive food-based feedstocks," he explained. "This will change the economics of these plants substantially and alter the ethanol equation forever," he concluded.

Ethanol stands as a cornerstone of America's alternative energy strategy. General Motors, (NYSE:GM) vehicles are now all designed to run on E85, an ethanol blend. In addition to a handful of cellulosic ethanol companies, such as GenTek, (NASDAQ:GETI) and most major energy companies such as British Petroleum, (NYSE:BP) and Royal Dutch Shell (NYSE:RDS-A) are researching biofuel alternatives to gasoline. Alternative biofuels will constitute a critical component of America's alternative fuels policy.

About Gulf Ethanol Corporation

Gulf Ethanol, (OTC:GFET) is an alternative energy company focused on the development of cellulosic ethanol technologies with a particular emphasis on Texas and the Gulf Coast. For more information please visit our homepage at: 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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