Ethanex Energy, Inc. (OTCBB EHNX) Tuesday's market went up 19.44% to $2.15 per share, with a total of 514,320 shares traded. The company announced that it has entered into an agreement with TrinityRail, the rail related businesses of Trinity Industries, Inc., for the supply of Ethanex's railcar requirements and rail transportation management related services required by Ethanex's three facilities located in Missouri, Illinois and Kansas. Under the terms of the agreement TrinityRail will construct and lease to Ethanex 920 - 6,351 cu.ft. covered hopper DDG cars and 1,050 - 30,145 gal. tank cars for delivery beginning in the fourth quarter of 2007 and ending in the fourth quarter of 2008. TrinityRail will also provide railcar fleet management services including regulatory compliance, maintenance and repairs.
Ethanex Energy, Inc. does not have significant operations. It intends to engage in the production and sale of fuel grade ethanol and its co-product livestock feed, as well as food grade corn products. The company also intends to market ethanol production technology, corn fractionation to existing ethanol plants, a process that increases the starch concentration of feedstock. Ethanex Energy was founded in May 2006 and is based in Basehor, Kansas.
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