Posted on 08/12/2006 9:35:38 PM PDT by thackney
Alternative Energy Sources Inc. plans to acquire Flex Fuels USA Inc. and its affiliate, ACN Energy Consulting Inc. in a stock-for-stock deal that would give Alternative Energy access to Flex Fuel's proprietary ethanol production technology.
Huntsville-based Flex Fuels has developed methods of producing cellulosic ethanol made from biomass and other types of waste rather than corn or sugar, making it less vulnerable to price or supply fluctuations. Kansas City, Mo.-based Alternative Energy Sources (OTC: AENS.OB), has signed a letter of intent to acquire all the company's outstanding capital stock and expects to sign a merger agreement by Sept. 15.
"Our ability to efficiently convert everyday biomass waste streams to useful renewable fuels will give us the lowest cost position in the industry," William Longshore, president of Flex Fuels, said in a statement. "We look forward to joining the Alternative Energy Sources team to commercialize this technology."
With the acquisition Alternative Energy Sources, which develops, builds and operates ethanol production plants, plans to build the first cellulosic ethanol facility in the U.S.
Mark Beemer, Alternative Energy's CEO, said the company is "excited about adding cellulosic ethanol into our aggregate ethanol portfolio. We have had an intense period of carbohydrate-based ethanol evaluation of sites, and are in the process of optioning land in cornbelt states for greenfield plants. Adding cellulosic ethanol will provide tremendous diversification to our future ethanol production base."
Beemer, as well as Alternative Energy's chief operating officer, Lee Blank, are former executives of Archer Daniels Midland Co., the No. 1 ethanol producer in the U.S.
Sounds like a load of crap to me... so to speak.
An ex-ADM exec only knows one thing...how to get huge gubbmint subsidies for non-economic enterprises. Mark my words, he'll be sucking up huge amounts of gubbmint "investment" in no time at all.
Not just ethanol.. Also Methane / Methanol...
Compressed Methane is basically, Liquid Natural Gas..
We can use all sorts of yard waste, fallen trees, garbage, etc.. anything that will rot and produce methane gas, as a fuel source..
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