Biofuels developer Xethanol Corp. announced it has entered an agreement with H2Diesel Inc., in which Xethanol will deploy H2Diesel's proprietary biodiesel conversion technology under an exclusive license in North America, Central America and the Caribbean. Xethanol received equity in H2Diesel for its management role. In a separate agreement, Xethanol was granted a sub-license to produce and sell biodiesel using H2Diesel's biodiesel process in certain U.S. states. Under the agreements, Xethanol can also acquire a majority interest in H2Diesel.
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