Gulf Ethanol Announces Duel Fuel Strategy
Gulf Ethanol Corporation (OTC:GFET) announced today that it will pursue a dual biofuel development strategy focused on processing feedstocks for ethanol in the U.S. and manufacturing biodiesel in Central America. Ethanol has become the dominant alternative transportation fuel in the United States. Gulf will focus on its technology for efficiently processing non-food feedstocks for ethanol manufacturers here. By contrast, Central America has ample feedstocks, such as palm oil, for the production of biodiesel. In these markets Gulf expects to manufacture biodiesel.
“Alternative energy is developing with a strong regional focus,” noted JT Cloud, Gulf’s President. “In Europe it is solar and biodiesel, in Brazil it is ethanol, in the U.S. it has been wind and ethanol. We are tailoring our technology to fit the feedstocks of the regions where we expect to develop operations,” he explained.
Certain parts of the world are already experiencing the impact of advanced clean energy. In Brazil biofuels, mostly ethanol, are now mainstream; in Germany photovoltaic is proliferating. Examples of recent investment impetus include British Airways (London: BAY.L) recent investment in New Energy through its pension fund; General Electric’s (NYSE: GE) announcement that it is doubling its renewable energy investments to $1.5 billion. About $20 billion per year is currently invested in clean energy technologies.
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. The Company is focused on the procurement and development of cellulosic ethanol technologies. For more information please visit our homepage at: www.GulfEthanolCorp.com.
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