Profile: Ethanex Energy Inc (EHTEQ.PK)
29 Nov 2013
Ethanex Energy, Inc., incorporated on November 4, 2004, is a development-stage company that focuses to engage in the business of producing fuel ethanol through the ownership and operation of ethanol plants. On August 3, 2006, one of the Company’s wholly owned subsidiaries, Ethanex Energy North America (EENA), acquired all of the capital stock of IPT Ethanol, Inc., a then wholly owned subsidiary of Industrial Power and Technology (IPT). In May 2006, IPT had entered into a letter of understanding (LOU) with a NYSE-listed electric utility located in the Midwest for the joint evaluation of the environmental and operational impact of siting a 132-million-gallons-per-year (MMGY) ethanol plant at a large coal-fired generating facility owned by an electric utility in northeast Kansas. The LOU provided IPT with a six-month exclusive study period, which was subsequently extended to May 25, 2007. IPT assigned all of its rights in the LOU to IPT Ethanol, Inc. before EENA acquired IPT Ethanol, Inc.
On August 4, 2006, EENA entered into a joint venture agreement with SEMO Milling, LLC, a privately held company (SEMO), for the purpose of manufacturing, distributing and selling ethanol and ethanol-based products and corn-based products in a production plant to be co-located with a dry corn mill production facility. On March 23, 2007, EENA entered into a ninth amendment to joint venture agreement with SEMO extending the time for making the capital contributions until April 30, 2007. On September 17, 2006, the Company entered into a joint venture agreement with Star Ethanol, LLC (Star), a limited-liability company, to construct and operate a 132-MMGY ethanol facility in Franklin County, Illinois utilizing fractionation technology in the production of ethanol and ethanol-related products.
Ethanex Energy Inc
SUITE A, 14500 PARALLEL ROAD
BASEHOR KS 66007