Founded in 2006, Panda Ethanol is a former subsidiary of Panda Energy International Inc. Most of Panda Ethanol's current employees and executive management team are former employees of Panda Energy and have extensive experience in developing large-scale power projects. Panda Ethanol is a public company and is traded over the counter under the symbol "PDAE." Panda Energy remains one of Panda Ethanol's single largest shareholders