Considering the paradox of drinking what you drive and driving what you drink, Coors Brewing Company’s conversion of spilt beer into ethanol is interesting and timely because of today’s intensified need for alternate fuels. The decision of investment in a sustainable project was present in 1996 as well as today. It is evident that Coors considered sustainability before it became popular. Their ethanol project allows an examination of several business issues that pertain to finance, accounting, operations management and environmental management students. This case has provided students sufficient information to practice the whole capital budgeting process which includes identifying and forecasting cash flows, applying capital budgeting tools and performing sensitivity and scenario analysis. Finance students will focus on cash flows and the capital budgeting aspect of the case. The potential reduction of waste disposal cost and generation of revenues from ethanol production will also be of interest to cost accounting students who focus on cutting costs in the production process. From a management standpoint, the Coors Brewing Company and Merrick’s ethanol project serves as an example of how a company can make a profit while engaging in environmentally safe projects. This illustrates the coexistence of company performance and ethicality. 
