WESTON, FL -- (Marketwire) -- 10/16/08 -- Wall Street News Alert's "stocks to watch" this morning are: CleanTech Biofuels, Inc. (OTCBB: CLTH), Exxon Mobil Corporation (NYSE: XOM), Applied Materials, Inc. (NASDAQ: AMAT) and Intel (NASDAQ: INTC).
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Having announced this week that it has closed the merger of Biomass North America Licensing, Inc. into its wholly-owned subsidiary, CleanTech Biofuels, Inc. (OTCBB: CLTH) should have investors monitoring the stock closely. Yesterday after the markets closed, the company issued a press release announcing that it has fulfilled its first milestone pursuant to its exclusive worldwide sublicense agreement for technology developed at the University of California, Berkeley for converting cellulose to ethanol.
More great news! Under the License Agreement, CleanTech is required to make payments to HFTA upon meeting certain development milestones for validation and commercialization of the technology. The first milestone, which was recently met, required that CleanTech satisfactorily test the technology using equipment developed at the University of California, Berkeley and subsequently purchased by CleanTech, to generate fermentable sugars from municipal solid waste at efficiencies satisfactory to CleanTech.
The patented technology, initially developed and tested at the University of California, Berkeley, utilizes nitric acid for hydrolyzing cellulosic material, rather than sulfuric or hydrochloric acid, for the production of ethanol and other fuels from biomass in municipal solid waste. Sulfuric or hydrochloric acid is typically used in the industry for hydrolyzing biomass; however, CleanTech believes that nitric acid hydrolysis represents the cutting edge of current technology in the cellulosic ethanol industry. CleanTech also obtained a nonexclusive worldwide license to use the technology for all other feedstocks for producing ethanol.
The licensed technology is described in U.S. Patents No. 5221357, 5366558, 5536325, 5628830, and 6019900. The sublicense agreement is with HFTA, a company formed by the developers of the technology.
It was this week the company reported it has closed the merger of Biomass North America Licensing, Inc. into its wholly-owned subsidiary. CleanTech plans to move quickly to implement its newly acquired technology at a commercial waste transfer station in Chicago, Illinois to produce cellulosic biomass from municipal solid waste. In cooperation with the owner of the site, the permitting and approval process for construction of the plant is underway.
The cellulosic biomass to be produced at the facility can be used for a variety of purposes, including solid fuel for the production of electricity in existing coal-fired power plants. CleanTech has been approached by several utilities who desire to purchase the biomass from the proposed Chicago plant for use in existing power plants.
Investors are urged to continue to monitor the progress of the company!
Before the news was released, the stock closed Wednesday at Forty Nine cents a share.
For Wall Street News Alert's in-depth profile of CleanTech Biofuels, visit http://www.WallStreetNewsAlert.com/HotStocks/CLTH101508/default.aspx
In case you are not familiar with the company: CleanTech Biofuels, Inc. is a development stage company with technology that the company believes is capable of converting municipal solid waste into ethanol and other energy products. By using the existing infrastructure for municipal solid waste collection and disposal to collect biomass at low or possibly negative feedstock cost, the Company expects to achieve profitability quickly relative to other energy producers who must develop their infrastructure to collect and transport more expensive feedstocks such as sugar cane, corn or even switchgrass, wood waste, or corn stoverl.
Exxon Mobil Corporation (NYSE: XOM) down 13.9% on 60 million shares traded. Exxon Mobil Corporation is a leading international energy company whose subsidiaries have operations in most of the world's countries. In the United States, ExxonMobil has significant exploration and production, refining and marketing and chemicals operations. ExxonMobil is one of the largest oil and gas producers and reserves holders in the United States, with a portfolio including Alaska, onshore Gulf Coast and deepwater Gulf of Mexico.
Applied Materials, Inc. (NASDAQ: AMAT) down 9.7% on 36.9 million shares traded. Applied Materials, Inc. is the global leader in Nanomanufacturing Technology(TM) solutions with a broad portfolio of innovative equipment, service and software products for the fabrication of semiconductor chips, flat panel displays, solar photovoltaic cells, flexible electronics and energy efficient glass.
Intel (NASDAQ: INTC) down 5.9% on 138.9 million shares traded. Intel, the world leader in silicon innovation, develops technologies, products and initiatives to continually advance how people work and live.
"The Commerce Department reported Wednesday retail sales decreased 1.2 percent last month, nearly double the 0.7 percent drop that had been expected. It was the biggest decline since retail sales fell by 1.4 percent in August 2005," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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