Rex Stores invests in Levelland, Texas, project

December 13, 2006

Levelland/Hockley County Ethanol LLC completed its $50 million equity drive with an $11.5 million investment from Rex Stores Corporation, an electronics retail chain. The investment, in combination with a previously announced $5 million convertible secured promissory note commitment, makes Rex the majority owner of the proposed 40 MMgy, ICM Inc.-designed plant in Texas. The Levelland project has 133 additional investors, mostly from the Levelland, Texas, region. Board President Greg Methvin told EPM that dirt work was expected to begin in late November.

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