ethanol industry has suffered scores of bankruptcies starting last October amid high corn prices the

ethanol industry has suffered scores of bankruptcies starting last October amid high corn prices, the credit crunch and a drop in fuel demand due to the recession. EMISSIONS As carbon markets develop, producers of grain-based ethanol may come under pressure to prove that their fuels cut emissions of greenhouse gases Environmentalists and some scientists say production of U.S. biofuels from corn and other grains can drive out production of other crops. That may force farmers in other countries to burn down forests and clear land -- and create new sources of carbon dioxide, known as emissions from "indirect land use change" -- to grow those crops.

The ethanol industry, on the other hand, says advances in new seeds and fertilizers mean they can grow more corn and other biofuel feedstocks on the same amount of land. Cellulosic ethanol from non-food sources like crop waste and fast-growing grasses and trees are expected to be lower in emissions, but are not yet made in commercial quantities. The memo said Obama would request Vilsack to "encourage production of next-generation biofuels from biomass and other non-corn feedstocks," and to speed funding for producers to burn crop waste and other biomass at distilleries instead of fossil fuels at plants. Obama will also ask the group to: *Develop the country's first comprehensive biofuel market development program. *Identify options to improve the environmental impact of the production biofuels feedstocks, taking into consideration land use, water efficiency and life cycle assessments of greenhouse gas emissions. Separately the White House said it will hold a conference call on Tuesday with Vilsack, EPA Secretary Lisa Jackson, and DOE Secretary Steven Chu, in part to unveil a notice of proposed rule on the Renewable Fuels Standard on biofuels.

Industry groups, scientists, and environmentalists expect that the proposed RFS rule will examine whether and to what extent all biofuels cut emissions of greenhouse gases. (Addtional reporting by Charles Abbott in Washington; Editing by David Gregorio). NORCROSS, GA, MARTINSRIED, GERMANY and MUNICH,GERMANY, May 04 (MARKET WIRE) -- ADVA Optical Networking announced Q1 2009 financial results for thequarter ended March 31, 2009, and prepared in accordance withInternational Financial Reporting Standards (IFRS).Q1 2009 IFRS FINANCIAL RESULTSRevenues in Q1 2009 at EUR 56.9 million were higher than guidance ofbetween EUR 50 million and EUR 55 million, and up 5% vs. Q1 2008 at EUR54.0 million and marginally better than the EUR 56.8 million reported inQ4 2008.

IFRS pro forma operating income, excluding stock-basedcompensation and amortization & impairment of goodwill &acquisition-related intangible assets, amounted to EUR -0.1 million or-0.1% of revenues in Q1 2009, in line with guidance of between -4% and+1% of revenues. This compares to EUR -2.0 million or -3.8% of revenuesin Q1 2008 and EUR 0.1 million or 0.1% of revenues in Q4 2008.Year-on-year, the pro forma operating income improvement is largely dueto higher revenues and gross margins. The improvement is tempered bylower net capitalization of development expenses and by higher sellingand marketing expenses.The IFRS operating loss in Q1 2009 was EUR 1.0 million, after EUR 3.8million in Q1 2008. The key drivers for this improvement are theabove-mentioned increase of pro forma operating income as well as reducedamortization of intangible assets of EUR 0.6 million after EUR 1.2million in Q1 2008.The IFRS net loss in Q1 2009 was EUR 0.5 million, after EUR 4.4 millionin Q1 2008. Beyond the factors impacting the operating loss, Q1 2009 netforeign currency exchange gains of EUR 0.5 million after losses of EUR1.3 million in Q1 2008 contributed to the lower net loss.