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GSAE PR-Oct. 1 2008
October 1, 2008 - 6:03 AM EDT
Green Star Alternative Energy Announces Notos Makes International Patent Application
Green Star Alternative Energy, Inc. (Pink Sheets: GSAE) is pleased to announce that Notos d.o.o. is proceeding with an International Patent Application in the field of wind turbine design. Notos and newly appointed Advisory Board member, Mr. Miodrag Nesic, have jointly filed an International Patent Application for two new patents – a conical-spiral rotor and a conical-spiral propeller.
Mr. Nesic currently holds five approved and three certified patents for various mechanical applications that he has created. One of Mr. Nesic's most recent patents is relevant to the wind turbine industry. His invention provides for greater turbine efficiency and will also reduce turbine production costs. Notos has entered into negotiations with Mr. Nesic with the intention of licensing this technology.
The wind turbine industry finds itself in a crucial transition period as it races to catch up with booming global demand for wind power, which surged to nearly 20 GW in annual installations during 2007, and is on track to more than double within a decade led by rapid growth in the US and China. Leading research firms analyzing clean and renewable energy markets, expect the global installed wind base to grow more than fivefold from its 2007 total of 94 GW to more than 576 GW by 2020.
Miodrag Andric, President of Notos, stated: "The global wind turbine industry is expected to exceed $40 billion in new installations for 2009. Any increase in efficiency, whether in performance or production cost, will provide important advancement for the industry. Notos is expanding and enhancing its business model with these new patents.”
J.M. De Castro, CFO of Green Star Alternative Energy, commented: “My colleague, Miodrag Andric, is a corporate visionary who is assembling the components necessary for creating a vertically integrated energy company.”
About Green Star Alternative Energy (GSAE.PK)
Green Star Alternative Energy, Inc. is working to develop more than 300 megawatts of clean wind energy. To drive growth and revenue Green Star is focused on the development of wind energy, the import and export of electricity, the cultivation of agriculture on its wind farms, and the supply of greenhouse gas emission credits. The company is pursuing a significant opportunity to provide clean power to the growing Republic of Serbia and neighbouring European countries. With the pending acquisition of key wind farm and power trading company Notos, Green Star will become one of only a few companies licensed to trade electrical power into and out of Serbia, the only company in Serbia able to generate and export its own wind energy, and the nation’s first developer of wind power.
FORWARD-LOOKING STATEMENTS
This press release contains 'forward-looking statements'. These are statements concerning plans, objectives, goals, strategies, expectations, estimates, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. In some cases forward-looking statements can be identified by the use of forward-looking words such as 'believes,' 'expects,' 'may,' 'will,' 'should,' or 'anticipates,' 'estimates,' or the negative of these words or other variations of these words or comparable words, or by discussions of plans or strategy that involve risks and uncertainties. Management wishes to caution the reader that these forward-looking statements, including, but not limited to, statements regarding the Company's plans, goals the estimates and assumptions, and the business strategy of the Company and other matters that are not historical facts are only predictions. No assurances can be given that such predictions and the estimates regarding mineral reserves, success of mining plans, or other projections will prove correct or that the anticipated future results will be achieved. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, the intense competition the company faces from others, and technological changes. Any one or more of these or other risks could cause actual results to differ materially from the future results indicated, expressed, or implied in such forward-looking statements.
Green Star Alternative Energy, Inc.
Jesse De Castro, CFO
1-866-955-GSAE (4723)
info@greenstarae.com
Source: Business Wire (October 1, 2008 - 6:03 AM EDT)
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