Xethanol Corporation (AMEX:XNL) and UTEK Corporation (AMEX:UTK) (LSE-AIM:UTK) have announced today (24th July 2007) that they have signed a renewal of their strategic alliance agreement.

Chief Executive Officer of Xethanol, Mr. Christopher d'Arnaud-Taylor stated, "I am excited about renewing this strategic alliance with UTEK that has been very productive for us since its inception. It will continue our access to prestigious research and development institutions in search of the proprietary technologies that provide us with competitive advantages in biofuels production. We are firm believers that a strong intellectual property platform is the key to differentiating Xethanol in the marketplace. 

"UTEK looks forward to working with Xethanol to identify potential technology acquisition opportunities that fit its strategic vision," commented Doug Schaedler, Chief Operating Officer of UTEK.

Through its strategic alliance agreements, UTEK assists companies in enhancing their new product pipeline with the acquisition of proprietary intellectual capital from universities and laboratory research centers. Strategic alliance agreements are generally cancelable by either party with thirty days advance written notice.