US government fuel subsidy leads to growing interest in XcelPlus Global Holdings’ alternative fuel

17 April 2009

Ethanol fuel producer XcelPlus Global Holdings has seen a rise in interest and demand for its alternative fuel since the US government’s green-fuel tax subsidy of 50 cents per gallon was introduced.

‘We’re getting a nice assist from the government now, with the alternative fuels tax subsidy,’ said J Michael Parsons, president of XcelPlus Global Holdings. ‘Our customers are now receiving a 50-cent-per-gallon government subsidy for each gallon of GlyClene fuel burned, giving our product both monetary and environmental advantages, and significantly boosting demand and interest. In just one example highlighting how much money is at stake for users of green fuels, International Paper recently reported receiving a government check for $71.6m as a result of just one month’s production and use of alternative fuels for 15 of its mills.’

Parsons added that the company was continuing to look for supply partners in the biodiesel industry looking for a way to dispose of their byproducts.

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Tags: alternative fuel, ethanol

This story was published on Friday, April 17th, 2009 at 4:39 pm and is filed under North America, biomass/biofuel, companies. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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