Human BioSystems forms ethanol unit

By | October 26, 2006
Human BioSystems, a California-based biotechnology research and development company focused on preservation platforms for organs and other biomaterials, announced its entry into the ethanol industry with the formation of HBS BioEnergy. The new entity, which will operate as a separate company and subsidiary, will develop two ethanol production facilities to be acquired from EXL III Group Corp., pursuant to a letter of intent announced in July. The names, location and scope of these projects were not disclosed at press time.
Claude Luster III, the principal of EXL III, will serve as president of HBS BioEnergy. EXL III is an equity partner in ethanol plant ventures.