Calgren Licenses GreenShift’s Patented Corn Oil Extraction Processes
Date : 01/26/2011 @ 11:09AM
Source : Business Wire
Stock : GreenShift Corporation (GERS)
Quote : 0.0001 -0.0001 (-50.00%) @ 11:34AM
Calgren Licenses GreenShift’s Patented Corn Oil Extraction Processes
Greenshift Corporati (OTCBB:GERS)
Intraday Stock Chart
Today : Wednesday 26 January 2011
GreenShift Corporation (OTC Bulletin Board: GERS) today announced the execution of a license agreement with Calgren Renewable Fuels providing for the use of GreenShift’s patented corn oil extraction technologies in Calgren’s 57 million gallon per year ethanol plant in Pixley, California.
GreenShift and Calgren also agreed that GreenShift would provide engineering and construction services for the replacement of Calgren’s existing Tricanter-based corn oil extraction equipment with an Alfa Laval disc stack centrifuge in order to increase yields, reliability and uptime.
In addition, Calgren has agreed to install GreenShift’s first Method II Corn Oil Extraction System to extract corn oil from Calgren’s whole stillage. With Method I (thin stillage extraction) and Method II (whole stillage extraction), Calgren will have taken the first step to achieving corn oil yields that could be as high as 1.33 pounds per bushel and having at least one advanced technology as described in the final rule for the expanded Renewable Fuel Standard (RFS2) published by the U.S. Environmental Protection Agency on December 21, 2010.
Lyle Schlyer, CEO of Calgren stated that “working with GreenShift fits into our business model of increasing efficiency and mitigating risk. We expect our corn oil yields will significantly increase with GreenShift’s technical support, and we expect to get a premium for our product with GreenShift’s marketing arm.”
About GreenShift Corporation
GreenShift Corporation (OTC Bulletin Board: GERS) develops and commercializes clean technologies designed to address the financial and environmental needs of GreenShift’s clients by decreasing raw material needs, facilitating co-product reuse, and reducing the generation of wastes and emissions. Additional information on GreenShift and its technologies is available online at www.greenshift.com.
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 GreenShift Corporation and members of its 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.
