Read third paragraph interesting,
GS Energy, which is currently known as INSEQ Corporation (OTC Bulletin Board: INSQ - News), is an 80%-owned publicly-traded subsidiary of GreenShift. When the pending transfers of GreenShift's clean energy holdings to INSEQ closes at the end of this quarter, INSEQ will change its name to GS Energy Corporation and will focus on the production and sales of energy from distributed clean power generation facilities including solar, wind, wave and hydro power facilities, as well as sales of renewable energy and conservation credits.
GS Energy's divisions will include Sterling Planet, Inc., the nation's leading retail provider of solar, wind and other clean, renewable energy, TerraPass, Inc., an innovative clean energy sales company that focuses on offsetting the carbon dioxide output of personal vehicles, and pre-revenue distributed solar, wind, hydro and wave project development companies.
GS Energy's immediate term plans are to invest aggressively in the growth of Sterling Planet's sales and to develop distributed clean energy projects, the first of which is planned to be a solar power project in the North Eastern U.S. We expect that GS Energy will secure an equity commitment of $8 million in the near term to support these efforts.
This company also operates a manufacturing division, Warnecke Design, that GS Energy plans to rely on to provide infrastructure support services as it builds out its targeted clean energy production projects. Warnecke Design currently generates about $5 million in sales per year that we hope to increase by more than $10 million per year as Warnecke manufactures and sells clean fuel processing equipment.
