Xethanol Corp. (AMEX:XNL)
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Xethanol Corporation (AMEX: XNL), a renewable energy company, today
announced that it has hired Dr. Rom Papadopoulos, former Managing
Director of The Jacoby Group, an Atlanta based investment group, to
serve as its Chief Operating Officer and Chief Financial Officer. In
those roles, Dr. Papadopoulos will explore growth alternatives for
Xethanol’s business. Those alternatives
include mergers and acquisitions, investments, and new product lines in
renewable energy. The company also announced that its previous Chief
Financial Officer, Gary Flicker, will pursue other career interests.
Dr. Papadopoulos has over twenty years of investment/merchant banking
and entrepreneurial experience. He was the founder and managing partner
of The Intuitus Group LLC, a merchant banking firm based in Atlanta. He
has extensive experience in capital raising activities with
corresponding deal sizes of $10 to $50 million and buy or sell side M&A
transactions with deal sizes up to $250 million across a broad range of
industries including, chemical, energy and pharmaceutical/biotech
industries. Dr. Papadopoulos is experienced in business start-ups,
patent and intellectual property protection and strategies, business
development and expansion, licensing, mergers and acquisitions,
strategic planning, marketing and operations.
David Ames, President and CEO of Xethanol, said, “I
am pleased and impressed to have had the opportunity to work with Dr.
Papadopoulos in his role as a consultant to us over the past few weeks,
and I look forward to working with him to grow our business.”
Mr. Ames also noted, “We greatly appreciate
Gary Flicker’s significant contributions as
our Chief Financial Officer over the past 18 months, and we wish him
well in his future endeavors.”
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 various renewable energy and clean
technologies, 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; and the USDA Forest
Products Lab in Madison, Wisconsin.
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 Dr. Papadopoulos will be successful in assisting the
company in its strategic and growth initiatives. 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.