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Internet Broadcasting Systems, Inc. /APRenewable Energy Company Makes Ethanol From Waste
POSTED: 3:20 pm EST January 13, 2008
WARRENVILLE, Ill. -- General Motors said Sunday it has formed a partnership with a renewable energy company, a rare move by a major automaker into the production of non-fossil fuels.
The industry titan has taken an ownership stake with Coskata, a company with plans to produce ethanol from agricultural leftovers and municipal and industrial waste.
The partnership includes an undisclosed equity stake for GM, joint research and development into emissions technology and investigation into making ethanol from GM facilities' waste and non-recyclable vehicle parts.
"We are very excited about what this breakthrough will mean to the viability of biofuels and, more importantly, to our ability to reduce dependence on petroleum," GM Chairman and CEO Rick Wagoner said.
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