GreenShift Announces Testing of Tornado Technology on Food Products
Monday October 24, 9:30 am ET
MOUNT ARLINGTON, N.J.--(BUSINESS WIRE)--Oct. 24, 2005--GreenShift Corporation (OTC Bulletin Board: GSHF - News) today announced that an early-stage prototype of GreenShift's proprietary Tornado Generator(TM) technology is being evaluated for efficacy in processing food products by a domestic based multi-national food products company.
GreenShift's Tornado Generator(TM) accelerates compressed air to supersonic speeds in a closed cyclonic chamber where the air is powerful enough to almost instantly grind, flash desiccate and atomize solid and liquid wastes and other materials into micron sized powders.
GreenShift's proprietary Tornado Generator(TM) is a completely contained system with no internal moving parts that is powered by compressed air. It can safely, cost-effectively and rapidly process a very broad array of wastes including agricultural wastes, septic wastes, municipal solid wastes, industrial wastes, mining wastes and construction and demolition wastes.
"While waste materials are a clear application for this technology, we believe that the Tornado Generator(TM) also facilitates the more efficient use natural resources upstream directly in production processes," said Kevin Kreisler, GreenShift's chairman and chief executive officer. "We believe that most industrial processes that involve some form of grinding, pulverizing, mixing, and/or drying can be improved upon with implementations of this technology. Agriproducts in particular represents a compelling area for improvement in this regard and can be a relatively rapid path to cash flows. We are very excited to have the opportunity to work with established market leaders as we evaluate a number of these applications today."
The early-stage prototypes of one of the technologies used in certain applications of GreenShift's Tornado Generator(TM) were initially developed to grind wheat and to improve the processing of poultry wastes. Video demonstrations of both such applications are available on GreenShift's website, www.greenshift.com. To access the video, logon to the "Confidential Content" section of the GreenShift website and enter "TAZ0001" for both the User ID and the Password.
About GreenShift Corporation
GreenShift Corporation is a publicly traded business development company (BDC) whose mission is to develop and support companies and technologies that facilitate the efficient use of natural resources and catalyze transformational environmental gains.
BDCs are regulated by the Investment Company Act of 1940 and are essentially publicly-traded equity funds where shareholders and financial institutions provide capital in a regulated environment for investment in a pool of long-term, small and middle-market companies through the use of senior debt, mezzanine financing, and equity funding.
GreenShift plans to use equity and debt capital to support and drive the value of its existing portfolio of companies and to make investments in a diversified mix of strategically compatible growth stage public and private businesses and technologies. GreenShift's current portfolio includes investments in the following environmentally proactive companies:
Veridium Corporation (OTC Bulletin Board: VRDM - News);
INSEQ Corporation (OTC Bulletin Board: INSQ - News);
GreenWorks Corporation;
Ovation Products Corporation;
Tornado Trash Corporation;
Mean Green BioFuels Corporation;
GreenShift Industrial Design Corporation;
Coriolis Energy Corporation;
Sterling Planet, Inc.;
TerraPass Inc.; and,
TDS (Telemedicine), Inc.;
In addition, GreenShift hopes to add investments in wind power, hydropower, practical centralized applications of hydrogen power, alternative fuels, infrastructure and mining to its portfolio during 2005 and 2006.
Additional information regarding GreenShift Corporation is available online at www.greenshift.com.
Safe Harbor Statement
This press release contains statements, which 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 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.
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Contact:
GreenShift Corporation
Jim Grainer, 973-398-8183
Fax: 973-398-8037
investorrelations@greenshift.com
www.greenshift.com
or
CEOcast, Inc. for GreenShift Corporation
Ed Lewis, 212-732-4300
