Panda Ethanol cancels Nebraska project

January 10, 2008

In a quarterly report filed with the U.S. Securities and Exchange Commission in November, Panda Ethanol Inc. said it has canceled its plan to develop an ethanol facility in Lincoln, Neb. Its decision was based on current market conditions. Its facility in Hereford, Texas, wasn't affected by the decision because it is fully financed and in the late stage of construction, the report said. The company will continue to manage its proposed projects in Yuma, Colo.; Haskell, Kan.; and elsewhere, but will limit development activities and costs until the ethanol markets improve and/or the Hereford facility begins to cover the company's working capital needs.

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