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Saline County Missouri Approves $141 Million Revenue Bonds for Alternative Energy
By: iStockAnalyst Thursday, July 31, 2008 9:53 AM
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Green Star Products, Inc. (OTC:GSPI) today announced that EcoAlgae USA, LLC, has received a signed resolution from Saline County Missouri commissioners to construct a commercial Algae Production Facility in conjunction with an Integrated Biorefinery Complex.

EcoAlgae USA will contract with Green Star's Associated Consortium of Companies to construct the Algae-to-Biodiesel and Next Generation Waste-to-Energy Complex.


EcoAlgae USA received from the Saline County commissioners the approval of issuance of $141 million of the county's industrial development revenue bonds to finance this project. The project will be organized and constructed in conjunction with United Biorefineries Corp. (UBC), a technology management company, as the main Consortium Company with other integrated licenses.


The EcoAlgae USA, LLC, project will involve algae production as the heart of this Biorefinery Complex because its high production biomass feedstock only requires sunlight, CO2 and brackish or saltwater. Note these important facts about algae:


1. Algae produce 100 times more oil per acre than traditional food oilseed crops such as soy, etc. (Note: Algae produces 4,000 gallons of oil per acre per year versus 50 gallons per acre for soy.) 2. Algae eat CO2, the major Global Warming Gas, and produce oxygen. 3. Algae require only sunshine and non-drinkable (salt or brackish) water. 4. Algae do not compete with food crops for either agricultural land or fresh water. 5. Algae can reproduce themselves and their oil every 6 hours, while it takes Mother Nature millions of years to produce crude oil in the ground. 6. Algae oil byproduct is a highly nutritious protein-rich food (30- 50%), which will someday help feed the world.
Green Star Products has been a major facilitator in all aspects of this UBC Integrated Biorefinery Manufacturing Complex model for several years.


The Biorefinery will be the first of its kind and will incorporate all the technologies to produce oil, cattle feed, electricity, biodiesel, cellulosic ethanol and steam.


Besides algae feedstock, other feedstocks to produce these valuable products come from non-food sources and are comprised of waste wood products, organic municipal waste, switchgrass, and other waste agricultural products such as corncobs.


The four main technologies required for this facility are:


1. Algae Production, Processing and Refining by Green Star Products 2. Cellulosic Ethanol Production by Pure Energy Corporation 3. Biogas Production by MKW Biogas 4. Algae Research & Engineering by Biotech Research (BTR) and Green Star Products
UBC and the above companies have strategic alliances with other major corporations and international engineering firms.


United Biorefineries Corp. represents the above Consortium of Companies through licensing arrangements and is the technology provider and will be responsible for the construction of the entire Biorefinery Complex for EcoAlgae USA, LLC. UBC will distribute profits from this project to its participating Consortium Companies.


EcoAlgae USA and all the participants, who have been working on this Missouri project for over one year, would like to congratulate Saline County and its commissioners for having the insight to provide the opportunity to build the most advanced Eco-friendly Biorefinery of the future.


Green Star Products, Inc. (OTC:GSPI) is an environmentally friendly company dedicated to creating innovative, cost-effective products to improve the quality of life and clean up the environment. Green Star Products and its Consortium are involved in the production of green sustainable goods including renewable resources like algae biodiesel and clean-burning biofuels, cellulosic ethanol and other products, as well as lubricants, additives and devices that reduce emissions and improve fuel economy in vehicles, machinery and power plants. For more information, see Green Star Products' Web site at http://www.GreenStarUSA.com, or call Public Relations at 800-741-7648 and 800-340-9784, or fax [phone], or email [e-mail]. Information about trading prices and volume can be obtained at several Internet sites, including http://www.pinksheets.com, http://www.bloomberg.com and http://www.bigcharts.com under the ticker symbol "GSPI."


Forward-looking statements in the release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the company's products, increased levels of competition for the company, new products and technological changes, the company's dependence on third-party suppliers, and other risks detailed from time to time in the company's periodic filings with the Securities and Exchange Commission.

Story Source: Business Wire

http://www.istockanalyst.com/article/viewiStockNews+articleid_2457985~title_Saline-County-Missouri.html