GS CleanTech Corporation, a wholly owned subsidiary of GreenShift Corporation (OTCQB: GERS), today announced it has extended its on-going service contract with Sunoco Inc through the end of 2016. The contract calls for GS CleanTech to provide maintenance and corn oil yield enhancements for the Corn Oil Extraction System licensed to Sunoco at its Fulton ethanol plant.
Whit Davis, GreenShift's Engineer in charge of the Sunoco account, said "we enjoy working with oil refiners who have ethanol assets. We see that they appreciate the renewable benefit ethanol provides the consumer and the environment as well as adding a different level of professionalism to the industry we at GreenShift so proudly serve."(Notice Refiners is Plural)
"Sunoco owns an approximate 30% non-operating interest in Philadelphia Energy Solutions ("PES"), a joint venture with The Carlyle Group, L.P., which owns a refinery in Philadelphia. Sunoco has a ten-year supply contract for gasoline and diesel produced at the refinery for its retail marketing business."
Sunoco additionally awarded GreenShift the construction project to design and install the equipment.
"We selected GreenShift to be our technology provider after extensive review," added Gary Center, Fulton ethanol facility manager at Sunoco. "The ability to extract corn oil to sell to third parties will provide a positive economic impact at the plant."
"GreenShift is very pleased to be working with Sunoco; throughout the entire process Sunoco demanded the very best, and we are pleased that we were able to deliver," added Edward Carroll, GreenShift's President.
GreenShift's extraction process gives Sunoco the exciting ability to contribute to the production of a second renewable fuel (biodiesel) from every kernel of corn that is refined into ethanol. One kernel of corn can now produce two renewable fuels using GreenShift's proprietary process.
Yes GERS is in business with Sunoco, an oil refiner. The record has been set straight...
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