Xethanol Corporation (AMEX: XNL - News), a diversified renewable energy company, today announced that Dr. Thomas Jeffries addressed the Fuel Ethanol Workshop in Nashville, Tennessee this morning to report on his research sponsored by Xethanol. Dr. Jeffries, a Professor at the University of Wisconsin-Madison, conducts research at the Forest Products Laboratory of the U.S. Department of Agriculture in Madison. Dr. Jeffries spoke on fermentation of cellulose and hemicellulose from corn waste. His Xethanol-sponsored research at the Forest Products Lab focuses on the reduction of the net cost of renewable fuel made from wood and agricultural waste.

Xethanol Corporation (AMEX: XNL - News), a renewable energy company, today announced that it has engaged Dr. Rom Papadopoulos to explore growth alternatives for Xethanol’s business. Those alternatives include mergers and acquisitions, investments, and new product lines in renewable energy. Dr. Papadopoulos will work as a special advisor to Xethanol’s CEO and President, David Ames.

Xethanol Corporation (AMEX:XNL - News), 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.

Xethanol Corporation (AMEX: XNL - News), a renewable energy company, today reported financial results for the first quarter ended March 31, 2008.

For the three months ended March 31, 2008, the company reported a net loss of $2.0 million, or ($0.07) per share, as compared to a $5.5 million net loss, or ($0.19) per share, for the same period of the prior year. The reduction in the net loss was primarily related to significantly lower general and administrative costs and equity compensation expenses compared to the same period in the prior year, as well as a gain from the sale of a portion of the company’s investment in New Generation Biofuels Holdings, Inc. (formerly named H2Diesel Holdings, Inc.).

Xethanol Corporation (AMEX: XNL - News), a renewable energy company, today announced its subsidiary Southeast Biofuels LLC has entered into a Cooperative Research and Development Agreement with the U.S. Department of Agriculture's Agricultural Research Service (ARS). The agreement is under the direction of Dr. Bill Widmer of the USDA-ARS Citrus and Subtropical Products Laboratory at Winter Haven, Fla. His work focuses on conversion of citrus waste to ethanol.

Widmer’s USDA research is the subject of the April 2008 cover story in Biomass Magazine, called “Fresh-Squeezed Feedstock.” The story explores the innovative process developed by Dr. Widmer and Dr. Karel Grohmann -- showing how citrus fruit waste can be turned into ethanol. The story explains to readers, “Before you drink that next glass of OJ, consider that half of the orange used to make that juice becomes waste material.”

Xethanol Corporation (AMEX: XNL - News), a renewable energy company, today reported financial results for the fiscal year ended December 31, 2007.

For the twelve months ended December 31, 2007, the company reported a net loss of $31.3 million, or ($1.09) per share, as compared to a $20.2 million net loss, or ($0.93) per share, for the same period of the prior year. The increase in the net loss was primarily related to non-cash charges of $18.3 million, including a $12.2 million impairment charge on property previously held for development. For the fiscal year ended December 31, 2007, the weighted average number of shares outstanding was 28.6 million as compared to 21.6 million weighted average shares for the comparable period in 2006.

Xethanol Corporation (AMEX: XNL - News), a renewable energy company, today announced that Tom Endres, Chief Operating Officer, joined the Board of Directors of The Beacon Institute for Rivers and Estuaries.

Headquartered midway along the Hudson River Estuary in the City of Beacon, Dutchess County, New York, The Beacon Institute is a not-for profit environmental research organization with a focus on rivers and estuaries. The Institute, which utilizes a three-pronged approach focusing on Science & Technology, Education and Policy, is developing a force of scientists, engineers, educators and policy experts whose collaborative work will focus on some of the most important and endangered bodies of water in the world.

Xethanol Corporation (AMEX: XNL - News), a renewable energy company, today announced that its subsidiary Southeast Biofuels LLC has received a $500,000 grant from the Florida Department of Agriculture and Consumer Services. Xethanol will use the grant to expand its work on converting waste to energy, using citrus waste as the raw material and converting it into cellulosic ethanol.

Xethanol plans to build a demonstration plant for converting citrus peel waste into ethanol. The company is negotiating an agreement to locate the plant at an existing citrus facility in Florida owned by one of the largest citrus processors in the state. The planned cost for the two-year build-out of the demonstration plant is approximately $5.9 million.

Xethanol Corporation (AMEX: XNL - News), a renewable energy company, has announced a $500,000 investment in Consus Ethanol, LLC of Pittsburgh, Pennsylvania pursuant to a convertible promissory note. Consus has a permitted site in western Pennsylvania, where it plans to build the first of several ethanol plants. Its business model calls for a cogeneration plant using waste coal to power the companion ethanol plant -- allowing significant energy cost savings.

Xethanol Corporation (AMEX: XNL - News), a renewable energy company, has announced an investment in Carbon Motors Corporation, a new American automaker developing a specially-built law enforcement vehicle featuring a clean diesel engine that can run on biodiesel fuel.

Carbon Motors, based in Atlanta, Georgia plans to build the vehicle using a global partnership and supply network that includes a world-class automaker, as well as Lotus Engineering in the UK, along with product input from hundreds of law enforcement officers and officials across the United States.

Xethanol joins in the Carbon Motors investment with the Advanced Technology Development Center Seed Fund in Atlanta, and the Ariel Savannah Angel Partners LLC. Terms of the investment were not released.

Xethanol Corporation (AMEX: XNL - News), a renewable energy company, has announced that its latest laboratory research results show significant increases in the rate of cellulosic ethanol production.

Researchers working at the Forest Products Laboratory of the US Department of Agriculture in Madison, Wisconsin are developing technology to reduce the net cost of renewable fuel made from wood and agricultural residue. Dr. Thomas Jeffries leads that effort.

Xethanol Corporation (AMEX: XNL - News), a renewable energy company, has announced that its Chief Executive Officer and President David Ames has joined the prestigious CEO Council, at the invitation of the American Council on Renewable Energy (ACORE) in Washington, D.C.

Xethanol Corporation, a renewable energy and clean technology company, today announced an extension of its Cooperative Research and Development Agreement (CRADA) on cellulosic ethanol feedstocks, with the National Renewable Energy Laboratory (NREL) in Golden, Colorado. The agreement has been extended through March 7, 2008. The NREL lab is operated by the Midwest Research Institute under contract to the US Department of Energy.

"Extending this CRADA with Xethanol is another step the National Renewable Energy Laboratory is taking to develop the technologies that will help the nation meet presidential and Department of Energy goals of reducing the country’s dependence on imported oil," NREL Commercialization Manager Richard Bolin said.

The original agreement dates back to January 2005, for work directed toward a method of biomass feedstock separation. The research focuses specifically on clean fractionation of cellulosic feedstocks into their component parts.

Engages Leading Intellectual Property Law Firm

Xethanol Corporation (AMEX: XNL - News), a renewable energy company, has announced it has refined its strategy to pursue opportunities in clean technology. Xethanol has engaged a leading intellectual property law firm, Fish & Richardson P.C., to help it assess the company’s intellectual property portfolio.

David Ames, President and CEO of Xethanol, commented, “We are refining our strategic plan for the company in view of the changing ethanol markets and other economic factors affecting our current business.” Added Mr. Ames, “We have several encouraging research projects underway to develop alternative energy sources.”

Xethanol Corporation (AMEX: XNL - News), a renewable energy company, today announced that its subsidiary Southeast Biofuels LLC has filed a grant application with the Florida Department of Agriculture and Consumer Services to expand the company’s work on converting waste to energy, using citrus waste as the raw material and converting it into ethanol. Only about 50 percent of a citrus fruit is used to produce juice and related products. Currently, most citrus waste is turned into low-value animal feed.

Xethanol Corporation (XNL), a renewable energy company, announces that on November 28, 2007, the company agreed in principle to settle the seven consolidated putative class action lawsuits pending against it captioned as In re Xethanol Corporation Securities Litigation, 06 Civ. 10234 (HB) (S.D.N.Y.). The agreement was reached during a mediation overseen by a retired United States District Court Judge in West Palm Beach, Florida, and attended by counsel for plaintiffs, counsel for the company and the individual defendants and counsel for the company's insurance carriers. The agreement remains subject to final negotiated writings executed by the parties and approval by the United States District Court for the Southern District of New York.

Xethanol Corporation (AMEX: XNL - News), a renewable energy company, today reported financial results for the three and six months ended June 30, 2007.

For the second quarter of 2007, the company reported a net loss of $6.6 million, or ($0.23) per share, as compared to a $5.9 million net loss, or ($0.24) per share, for the same period of the prior year. The increase in the net loss was primarily related to $4.5 million in non-cash charges including a $2.8 million impairment charge on property held for development. For the three months ended June 30, 2007, the weighted average number of shares outstanding was 28.6 million as compared to 24.2 million weighted average shares for the comparable period in 2006.

Xethanol Corporation (XNL), a renewable energy company, today reported financial results for the three and six months ended June 30, 2007.

For the second quarter of 2007, the company reported a net loss of $6.6 million, or ($0.23) per share, as compared to a $5.9 million net loss, or ($0.24) per share, for the same period of the prior year. The increase in the net loss was primarily related to $4.5 million in non-cash charges including a $2.8 million impairment charge on property held for development. For the three months ended June 30, 2007, the weighted average number of shares outstanding was 28.6 million as compared to 24.2 million weighted average shares for the comparable period in 2006.

Xethanol Renews Research Agreement on Efficient Means of Cellulosic Ethanol Production

Xethanol Corporation announced the establishment of the Xethanol Advanced Biomass Characterization Laboratory at Virginia Tech, in Blacksburg, Virginia. The company also renewed its research agreement with Virginia Tech that is focused on developing efficient means of producing ethanol using cellulosic feedstocks. The research is led by Dr. Foster A. Agblevor, Associate Professor in the Department of Biological Systems Engineering.

Xethanol also announced the loan of more than $200,000 in specialized laboratory testing equipment to Virginia Tech as part of its existing research partnership. The equipment comes from the company's multiple science laboratories.