Oil and Gas Plays

[lowman]

GSHF - CEOcast Interviews GreenShift CEO Kevin Kreisler; Company Provides Update on Technology Development

Nov 28, 2005 8:42:00 AM
Copyright Business Wire 2005
MOUNT ARLINGTON, N.J.--(BUSINESS WIRE)--Nov. 28, 2005--

GreenShift Corporation (OTC Bulletin Board: GSHF) today announced that its chief executive, Kevin Kreisler, was interviewed by CEOcast, the premier source of original and syndicated streaming broadcast interviews of chief executive officers at public and private news-making companies.

In the interview, Kreisler focused on GreenShift's results of operations for the third quarter 2005 and GreenShift's development plans for the balance of 2005, including plans for its portfolio company, Ovation Products Corporation, which recently successfully tested a new production version of its patented water purification technology. Kreisler also discussed GreenShift's plans for its various other innovative green technologies, including its Tornado Generator(TM). The interview is available online at www.ceocast.com.

Tornado Generator(TM) Update

GreenShift's industrial design company, GreenShift Industrial Design Corporation ("GIDC"), is currently testing the next generation of its Tornado Generator(TM) technology. This new generation of the Tornado Generator(TM) technology is designed to reduce trash volumes for small scale commercial and high end residential consumers by more than 90%. GIDC expects to make production units available to selected clients during the first quarter 2006.

Ovation Purifier Update

Ovation Products Corporation, a GreenShift portfolio company, successfully tested a new production version of its patented water purification technology. The new production version, named "Gamma" by Ovation's engineering team, is approximately three feet tall and one foot in diameter - about the size of a fire hydrant. Gamma's output water was tested and achieved the purity of distilled water. Gamma used approximately 54 watt-hours of electricity per gallon of distilled water produced, and Ovation anticipates that the production units will achieve the design goal of 40 watt-hours per gallon, which translates into an electrical energy cost of approximately $0.004 per gallon, or an amount that is less than the cost of tap water in most areas.

Ovation expects to continue to refine Gamma's operation to achieve a 25 gallon per hour benchmark but the results of the Gamma testing were sufficient to justify releasing parts orders for a pilot run of 11 Gamma units. Ovation expects that those pilot units will be assembled during the first half of 2006, and may be available for testing by existing and prospective strategic partners in the second quarter of 2006.

"This is an important development for a extraordinary technology," said Kevin Kreisler, chairman and chief executive officer of GreenShift Corporation. "The Ovation Purifier is designed to seamlessly and cost-effectively integrate with the daily lives of residential consumers. We see this as critical given our view that truly transformational environmental benefits can occur by properly leveraging the incremental contributions of a great many people. We had intended the Ovation Purifier to become one of the cornerstone 'killer-app' green technologies in our portfolio. The Gamma test confirms our expectations and we have ordered one of the pilot Gamma units and plan to order somewhat more in the near term. We are thrilled with the results and the Ovation design team should be commended for their hard work and ingenuity."

No Silver Bullets

"There are no silver bullets when it comes to green technologies," added Kreisler. "Our technology acquisition focus this year has been on what we view to be key technologies that are each important advances in and of themselves, but that are each also capable of stimulating near term cash flows in the right applications in conjunction with our other technologies."

"Take what we want to do with trash for example. Standard separation technologies can separate plastics and metals from trash. Our separation technologies enhance standard techniques by preferentially extracting targeted plastics and metals from the mixed plastic and metal streams. This results in higher quality plastic and metal feeds which are then fed into the Tornado Generator(TM) technology, for cost-effective pulverization into fine powders. The derivative plastic powders can either be sold or, due to their greatly increased surface area, processed further into fuel using a process known as thermal depolymerization. The metal powders can be refined further or sold directly to smelters and other end users. The rest of the trash, which is mostly celluosic biomass, can be processed with the Tornado Generator(TM) technology and turned into biofuels and sold or converted into energy on site. Finally, any wastewaters generated on site can be cleaned with a combination of conventional processes and the Ovation technology."

"We are investing in key technologies at each stage - separation, processing, recycling and/or reuse, and emission controls. These same basic steps are present in most waste processing applications and we are targeting technologies that individually have a lot of potential but that also add value to our portfolio when used in synergistic ways with our other technologies on the right applications."

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);

-- INSEQ Corporation (OTC Bulletin Board: INSQ);

-- GreenWorks Corporation;

-- GreenShift Industrial Design Corporation;

-- Ovation Products Corporation;

-- Tornado Trash Corporation;

-- Mean Green BioFuels Corporation;

-- Ethanol Oil Recovery Systems, LLC;

-- Sterling Planet, Inc.;

-- TerraPass, Inc.;

-- Aerogel Composite, Inc.;

-- Coriolis Energy Corporation;

-- Hugo International Telecom, Inc.; and,

-- TDS (Telemedicine), Inc.
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.

Source: GreenShift Corporation



----------------------------------------------
GreenShift Corporation
Jim Grainer
973-398-8183
Fax: [phone]
[e-mail]
www.greenshift.com
or
CEOcast
Inc. for GreenShift Corporation
Ed Lewis
212-732-4300