8.8.2006: Meldung: Xethanol Corp.: Agreement to Acquire Augusta Site

Xethanol Enters into Agreement to Acquire Augusta Site
Monday August 7, 10:19 am ET

NEW YORK-- Aug. 7, 2006--Xethanol Corporation, a biotechnology driven ethanol company, announced today that it has entered into an agreement to purchase a pharmaceutical manufacturing complex in Augusta, Georgia from Pfizer Inc. as described in prior press releases. Complete terms of the purchase agreement can be found in Xethanol"s filing on Form 8-K with the Securities and Exchange Commission.

Xethanol Corporation"s goal is to be the leader in the emerging biomass-to-ethanol and biofuels industry. Xethanol"s mission is to optimize the use of biomass in the renewable energy field and convert biomass that is currently being abandoned or land filled into ethanol and other valuable co-products, especially xylitol. Xethanol"s strategy is to deploy proprietary biotechnologies that will extract and ferment the sugars trapped in these biomass waste concentrations. Xethanol"s strategic value proposition is to produce ethanol and valuable co-products cost effectively with ethanol plants located closer to biomass sources. Xethanol"s biotechnologies are currently deployed in its two ethanol production facilities in Iowa. For more information about Xethanol, please visit its website at http://www.xethanol.com. To receive information on Xethanol in the future, please click on the following link: http://www.xethanol.com/alerts.htm?b=1387&l=1


Contact:

Martin E. Janis & Company, Inc.
Beverly Jedynak (Media), 312-943-1100 ext. 12
bjedynak@janispr.com
or
Amy Ruffalo, 312-943-1100 ext. 15
aruffalo@janispr.com
or
Capital Group Communications, Inc.
Anthony Evans/Mark Bernhard (Investors), 415-332-7200
info@capitalgc.com

Source: Xethanol Corporation
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