Xethanol Corporation (AMEX: XNL), a renewable energy company, today announced that its subsidiary Southeast Biofuels LLC has filed a grant application with the Florida Department of Agriculture and Consumer Services to expand the company’s work on converting waste to energy, using citrus waste as the raw material and converting it into ethanol. Only about 50 percent of a citrus fruit is used to produce juice and related products. Currently, most citrus waste is turned into low-value animal feed.
Xethanol intends to build a demonstration plant for converting citrus peel waste into ethanol. The company is negotiating an agreement to locate the plant at an existing citrus facility in Florida owned by one of the largest citrus processors in the state. The planned cost for the two-year build-out of the demonstration plant is approximately $6,000,000, and Southeast Biofuels is seeking a $500,000 grant.
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