Ethanex Energy, Inc. Granted Right to Begin Construction on SEMO Plant
BASEHOR, Kan., Nov 20, 2006 (BUSINESS WIRE) --
Ethanex Energy, Inc. (OTCBB: EHNX), a renewable energy company whose mission is to become the ethanol industry's low-cost producer, today announced that the State of Missouri Department of Natural Resources has granted regulatory approval under a waiver to begin construction on its ethanol production plant to be located in Cape Girardeau.
Ethanex at SEMO will be a state of the art 132 million gallons per year fuel-grade ethanol plant. The facility will include patented fractionation technology that reduces energy consumption by 25%, increases the value of co-products and increases the throughput capacity by 20%. This next generation technology contributes to a 25% lower production cost per gallon than standard ethanol facilities. The plant will also incorporate Delta-T process technology and Chevron Corporation (NYSE: CVX) will be the EPC contractor.
"Ethanex has been working closely with the Missouri Department of Natural Resources and this waiver helps expedite our development process," stated Al Knapp, President and Chief Executive Officer of Ethanex. "We have been working diligently these past two months to prepare our three projects for the construction phase. We continue to build our organization and secure the industry partnerships necessary to operate successfully."
The waiver enables Ethanex to begin construction activities immediately. Before commencement of operations the Department of Natural Resources must complete a technical review of Ethanex's permit application.
About Ethanex Energy, Inc.
Ethanex Energy, Inc. is a renewable energy company whose mission is to become the ethanol industry's low-cost producer. The Company expects to achieve this industry position through the application of next-generation feedstock technologies and use of alternative energy sources. Ethanex Energy is currently developing three ethanol production facilities located in the Midwest, with a combined production capacity of approximately 400 million gallons of ethanol per year. The Company expects these three plants to be operational in 2008. Ethanex Energy is concentrating its geographic focus in areas that allow access to abundant supplies of corn, alternative energy sources, transportation infrastructure and the potential for expedited permitting. Ethanex Energy's acquisition and brownfield development strategies afford it rapid capacity development with significant operating cost advantages. The Company's senior management has over eighty years of experience in the energy sector including the design, construction and operation of hundreds of power generation facilities. Ethanex Energy is based in Basehor, Kansas with offices in Santa Rosa, California and Charleston, South Carolina. For more information about Ethanex Energy, visit www.ethanexenergy.com.
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