Fiberight Purchasing Shuttered Iowa Ethanol Plant for Cellulosic Ethanol Production

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Researched by Industrial Info Resources (Sugar Land, Texas)--Xethanol Biofuels LLC (New York, New York), a wholly owned subsidiary of Global Energy Holdings Group Incorporated (AMEX:GNH) (Atlanta, Georgia), announced that an agreement has been reached for the company to sell the assets of Xethanol's shuttered fuel ethanol plant located in Blairstown, Iowa. Fiberight LLC (Lawrenceville, Virginia) is purchasing the facility. The sales agreement includes the 25.5-acre tract of land, the warehouse and distribution facilities, and the 24,700-square-foot manufacturing facility. The sale price was not disclosed.

The plant has had quite a history since its early development in 1995, under the name Sunrise Energy. The name then changed to 78th Street Ethanol LLC and was scheduled to be expanded to produce 35 million gallons of ethanol per year. The expansion never materialized, and the plant closed in 2002. Xethanol purchased and reopened the plant in mid-2006. The plant is listed as producing slightly more than 5.6 million gallons per year, a perfectly sized plant to develop a second-generation cellulosic ethanol plant.

Fiberight's plans are to convert the plant into a demonstration-scale production facility that will utilize solid waste and crop waste materials to produce fuel ethanol. No timeline was given as to when the renovations of the plant will begin or the facility will go back online.

Industrial Info's Ethanol Database provides a comprehensive outline of all current development activities in the emerging alternative fuels market. This database covers 192 ethanol plants in operation and 530 plants under development. It also covers 141 operational biodiesel plants and 245 biodiesel plants under development.

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