Greenshift Corporation (GERS)

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GreenShift Receives Notices of Allowance on Three New Corn Oil Extraction Patents

Today : Tuesday 20 January 2015


GreenShift Corporation (OTCQB:GERS) announced today that the U.S. Patent and Trademark Office (“USPTO”) recently issued Notice of Allowances for the following U.S. Pat. Application Nos.:

13/450,997 titled “Methods of Processing Ethanol Byproducts and Related Subsystems” (the “’997 Patent Application”) on December 19, 2014;
13/185,841 titled “Method and Systems for Enhancing Oil Recovery from Ethanol Production Byproducts” (the “’841 Patent Application”) on December 24, 2014; and,
11/908,891 titled “Methods and Systems for Washing Ethanol Production Byproducts to Improve Oil Recovery” (the “’891 Patent Application”) on December 26, 2014.
The Notices of Allowances for these applications were issued by the USPTO after a review of a recent Summary Judgment decision and other filings by the defendants in an ongoing infringement action against multiple defendants by GS CleanTech Corporation, a subsidiary of GreenShift. Each of the recently allowed patent applications was examined and considered patentable by a different examiner and after each had considered the Summary Judgment decision.

The Summary Judgment issued on October 23, 2014 by the District Court in Indiana and ruled in favor of defendants on their motions for summary judgment alleging that the corn oil extraction patents issued to GS CleanTech were invalid, including US Pat. Nos. 7,601,858 and 8,168,037. As previously announced GreenShift intends to appeal the Summary Judgment decision. Under applicable standards, a patent is not invalid until and unless a final judgment of invalidity is rendered after all available appeals have been exhausted.

“We believe in our intellectual property rights and the system of checks and balances designed to protect those rights, both in the patent office and the courts,” said Kevin Kreisler, GreenShift’s chief executive officer. “We will appeal the Summary Judgment ruling at the appropriate time. In the meantime, we remain focused on growth, innovation and bringing value to our licensees.”