Colusa to create separate entity

By | May 09, 2008
Colusa Biomass Energy Corp. announced in March it will enter an asset purchase agreement transaction to enable the commercial viability of its cellulosic ethanol technology and become a separate entity called Alpine Management Systems Inc. Colusa's assets, liabilities and business operations will be transferred to British company Pan Gen Global PLC in exchange for a controlling interest in Pan Gen Global. Operations will be conducted by Colusa Biomass Inc. in Reno, Nev. The transaction was $4 million initially, with $40 million in best efforts to follow.