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July 27, 2006 - 8:03 AM EDT
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GS CleanTech Acquires Exclusive Rights to Proprietary Gasification Technology for Ethanol Production Industry; GS CleanTech's Ethanol Technologies Dramatically Increase Fuel Yield Of Corn
GS CleanTech Corporation (OTC Bulletin Board: GSCT) today announced its execution of an agreement with ZeroPoint Clean Technology, Inc. for the exclusive rights to distribute and use ZeroPoint's proprietary gasification, gas to liquids and fuel reforming technology in the Ethanol Production Industry.
ZeroPoint's Biomass Gasifier is designed to standardize variable biomass feeds and optimize high yields of high-quality syngas in real-time with greatly increased capital and operating cost efficiencies at smaller scales as compared to traditional gasification technologies. The syngas output of ZeroPoint's gasifier can either be used to generate electricity in a standard gas-fired generator or catalyzed into liquid fuels such as ethanol or diesel substitutes with the Fischer-Tropsch process.
David Winsness, GS CleanTech's president and chief operating officer, said that "We believe that the ZeroPoint technology is the most effective commercially viable technology available for gasifying biomass. The technology is modular and capable of small and large scale applications. It is flexible and can readily accommodate increasing and variable capacities with variable feeds, and it can be manufactured with rapid delivery cycles. For GS CleanTech, the ZeroPoint technology adds significant additional capability to our clean fuel technology program."
Biomass Gasification and Synthesis Gas
When biomass is heated with little oxygen needed for efficient combustion, the biomass breaks apart into its molecular constituents, or it gasifies, into a mixture of carbon monoxide and hydrogen gas called synthesis gas, or syngas.
This is similar to the process that occurs with wood in a fireplace. As the wood becomes very hot, it gives off its volatile gases - syngas - and it falls apart into a relatively low volume of ash. Because there is an open flame and ample free oxygen, the syngas emitted by wood in a fireplace combusts immediately and produces fire.
Gasification converts carbonaceous materials into syngas, and a biomass gasifier is a system that can gasify biomass such as wood waste, municipal waste, or agriproducts into syngas.
Importantly, syngas produced in a biomass gasification process can be converted into liquid fuels and other products through a catalytic chemical reaction called the Fischer-Tropsch process.
To date, the most significant resistance to wide-scale use of biomass gasification has been the requirement to customize gasifiers for the specifics of each individual application. This is because different forms of biomass have different sizes shapes, densities, moisture contents, cellulosic structures and gasification and devolitization characteristics. Customization requirements and the practicality of gasifying variable feeds have typically constrained gasifiers to larger scale, capital intensive designs.
3.9 Gallons of Clean Fuel Per Bushel of Corn
GS CleanTech is currently focused on delivering its technologies and process innovations to the Ethanol Production Industry with a view towards maximizing the yield of corn-based ethanol production.
Traditional ethanol processing converts each bushel of corn, which weighs about 54 pounds, into about 18 pounds of ethanol, 18 pounds of carbon dioxide, and 18 pounds of distillers dried grains (DDG), which contain about 2 pounds of fat. This corresponds to a corn to clean fuel conversion efficiency of about 33%, or about 2.8 gallons of clean fuel per bushel of corn. GS CleanTech's ambition is to increase this efficiency as much as possible.
GS CleanTech's patent-pending corn oil extraction and biodiesel processing technologies convert the fat in the DDG into a high grade corn oil that can then be converted into biodiesel on close to a 1:1 volumetric basis. This increases the corn to clean fuel conversion efficiency described above to 36%, or about 3.0 gallons of clean fuel per bushel of corn.
The ZeroPoint technology has the potential to add to the corn to clean fuel conversion efficiency by gasifying the remaining 16 pounds of defatted DDG in the above example and using the resultant syngas to generate electricity and to produce additional ethanol with the Fischer-Tropsch process.
Winsness added: "We believe that deploying the ZeroPoint technology in concert with our turn-key corn oil extraction and biodiesel processing technologies will potentially enable us to increase the corn to clean fuel conversion efficiency from 33% to more than 48%, or from 2.8 to more than an incredible 3.9 gallons of clean fuel per bushel of corn. We are very excited by the potential of this technology in our program and its ability to create additional opportunities for ethanol producers and their regional communities to maximize the clean fuel yield out of existing crops."
About GS CleanTech Corporation
GS CleanTech Corporation (OTC Bulletin Board: GSCT) provides applied engineering and technology transfer services based on clean technologies and process innovations that make it cost-effective and easy to recycle and reuse resources.
GS CleanTech is a majority-owned subsidiary of GreenShift Corporation (OTC Bulletin Board: GSHF), a company devoted to facilitating the efficient use of natural resources.
About ZeroPoint Clean Technology, Inc.
ZeroPoint Clean Technology, Inc. is commercializing patent pending and proprietary gasification, gas to liquids and fuel reforming technology that ZeroPoint believes is the most effective technology available for use in gasifying biomass to create carbon-neutral energy (gas, electricity, ethanol, diesel substitutes and hydrogen), clean water and other valuable products. ZeroPoint's technology is well suited for distributed deployments, making it highly applicable to the localized nature of many global sources of biomass feedstock. ZeroPoint believes that its commercial offerings are highly valuable to the rapidly growing global, renewable energy industry. ZeroPoint is a part of the Golden Technology Management portfolio.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of GS CleanTech Corporation, and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
GS CleanTech Corporation, 888-895-3585
Fax: 646-572-6336
investorrelations@greenshift.com
www.greenshift.com
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Investor Relations:
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Andrew Hellman, 212-732-4300
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Deborah McCandless, 212-590-0523
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Source: Business Wire (July 27, 2006 - 8:03 AM EDT)
