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Is this process 85% efficient? If that is right, it beats any other "renewable energy" in existence. Anybody got a source of good info on this? (I am a chemical engineer, so this sounds just crazy enough it might be feasible).

As far as being profitable, I worked for 5 years in ethanol and most of the time the companies I worked for/with did not make a profit. Talking with some of the old hands, if the subsidy was removed the ethanol industry would disappear. As it is, many of the small plants won't make it.

However, the economics are improving. The cattle market is up, so the demand for DDG (dried distillers grains, cattle feed) a byproduct is up, so maybe the ethanol plants will start being solidly in the black soon.

http://www.changingworldtech.com/pdf/GenConfLasVegas3_3_04.pdf

This is from their website. I'm not a chemical engineer, so it will probably mean a lot more to you than me.