Xethanol: New Alternative Energy Operating Division Formed

Xethanol Corporation, a renewable energy company, today announced that it has formed a new operating division, Global Energy Systems, Inc. (GES). This new division will focus on the multi-billion dollar markets in landfill gas to energy, waste to energy, utility energy service contracts and Xethanol’s existing biofuels-ethanol business.

Mike Ellis, formerly with Jacoby Energy Development, has been named president of GES. Mr. Ellis brings 29 years of experience in the energy sector to his new role. From 2003 to 2007 he was with Energy Systems Group (ESG), a division of Vectren Corporation, where he opened the Atlanta Regional office and was responsible for over $65 million in sales of which the majority was in the renewable energy sector. Prior to ESG, Mr. Ellis was with Southern Company for 23 years. In 1996, Mr. Ellis was one of the founding executives of Southern Company’s energy services company, Southern Company Energy Solutions (SCES). Mr. Ellis led SCES to annual sales of over $100 million before leaving in 2003 to join ESG. Mr. Ellis has managed renewable energy assets and developed renewable energy projects in High-BTU landfill gas, biomass, solar and gasification since 1996. His extensive experience in sales, management and operations, along with his solid track record of growing energy services companies and his expertise in structuring transactions in this sector, will be of significance to the future growth of the company.

David Ames, President and CEO of Xethanol, said, “This new division is a very important step for Xethanol’s growth strategy. As we sharpen our focus on renewable energy, we will also seek alternative energy acquisition opportunities consistent with our stated mission. Mike Ellis will use his expertise and extensive experience in the energy sector to seek out growth opportunities for us as we seek to increase shareholder value.”

The expansion of the renewable and alternative energy sectors is a natural progression for the company. Xethanol believes that the new division can fuel the company’s future growth. The company intends to work with key strategic industry partners on existing and new energy production facilities.

About Xethanol Corporation

Xethanol Corporation is a renewable energy company focused on alternate energy products and technologies as well as producing ethanol and other co-products. Xethanol may invest in renewable energy and clean technology, including biomass gasification for electricity production, wind power, solar power, energy storage, energy infrastructure, energy efficiency, waste recycling and agricultural processes.

Xethanol has research agreements in place, including several aimed at efficient production of cellulosic ethanol. The company is working with some of the nation’s leading scientific institutions, including the National Renewable Energy Lab in Golden, Colorado; Virginia Tech in Blacksburg, Virginia; the USDA Forest Products Lab in Madison, Wisconsin; and the Energy and Environmental Research Lab in Grand Forks, North Dakota.

For more information about Xethanol, please visit its website at http://www.xethanol.com.

Forward Looking Statements

Some of the statements made in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s current expectations and include known and unknown risks, uncertainties and other factors, many of which the company is unable to predict or control, that may cause the company’s actual results or performance to differ materially from any future results or performance expressed or implied by such forward-looking statements. These statements involve risks and uncertainties, including risks and uncertainties associated with whether the new division will be successful in the businesses it intends to pursue, whether the financing that may be necessary to pursue those businesses will be available, and whether the company will achieve its growth expectations. These risks and uncertainties are in addition to other factors detailed from time to time in the company’s filings with the SEC, including the section entitled “Risk Factors” in its annual report on Form 10-K for the year ended December 31, 2007. The company cautions investors that any forward-looking statements made by the company are not necessarily indicative of future performance. The company is not responsible for updating the information contained in this press release beyond the published date, or for changes made to this document by wire services or Internet services.


Kathleen Heaney, 203-803-3585

Source: Xethanol Corporation
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