Current NEWS:
GreenShift Awarded Second Patent on Corn Oil Extraction
GreenShift Corporation (OTC Bulletin Board: GERS) announced today that the U.S. Patent and Trademark Office issued notice that pending patent number 11/688,435 will be issued as U.S. Patent No. 7,608,729, titled "Method of Freeing the Bound Oil Present in Whole Stillage and Thin Stillage” (the ’729 Patent) on October 27, 2009 to GS CleanTech Corporation, a wholly-owned subsidiary of GreenShift.
GreenShift previously announced the October 13, 2009 award by the U.S. Patent and Trademark Office to GS CleanTech of U.S. Patent No. 7,601,858, titled "Method of Processing Ethanol Byproducts and Related Subsystems” (the ’858 Patent).
“The ‘858 Patent covers the core of our extraction platform,” said David Winsness, GreenShift’s chief technology officer and co-inventor of GreenShift’s extraction technologies. “The ‘729 Patent builds off of the ‘858 Patent to enhance yield and optimize energy utilization. The issuance of both patents further validate the significant resources and years of hard work that we have invested in the development of our extraction platform. We are energized by these events and we look forward to using our technological capabilities to address the environmental and financial needs of our clients.”
GreenShift’s patented and patent-pending corn oil extraction technologies enable GreenShift and its licensees to “drill” into the back-end of first generation corn ethanol plants to tap into a new reserve of inedible crude corn oil with an estimated industry-wide output of about 20 million barrels per year. This corn oil is a valuable second generation feedstock for use in the production of biodiesel and renewable diesel – advanced carbon-neutral liquid fuels, thereby enhancing total fuel production from corn and increasing ethanol plant profits.
Historically, ethanol production facilities have sold the distillers grain co-product of corn ethanol production (“DDGS”) for animal feed, with all of the oil trapped inside. An estimated 3.4 million tons of corn oil passed unrecovered through the U.S. ethanol industry during 2008 alone.
GreenShift’s portfolio of patented and patent-pending extraction technologies can cost-effectively extract most of this corn oil, thereby increasing biofuel yields per bushel of corn by 7% while reducing the energy consumption and greenhouse gas (“GHG”) intensity of corn ethanol production by an estimated 21% and 29%, respectively. There are no other technologies that have been developed for corn ethanol producers that begin to approach even a fraction of these results in the entire history of the ethanol industry.
More information regarding GreenShift and its patented and patent-pending extraction technologies will be made available in Winsness’ presentation titled “Back End Fractionation” at the upcoming 2nd Annual Commercial Ethanol Technology and Research Workshop on October 28, 2009 at the Sioux Falls, South Dakota headquarters of POET.
Additional information regarding GreenShift’s extraction technologies is available online in a recent podcast interview with David Winsness at the link below:
www.biofuelsjournal.com/articles/...t__New_York__NY-79420.html
GreenShift’s technical services staff is available at 888-ETHANOIL or sales@greenshift.com to respond to quotation requests and to answer any questions about GreenShift’s corn oil extraction and other technologies.
About GreenShift Corporation
GreenShift Corporation (OTC Bulletin Board: GERS) develops and commercializes clean technologies that facilitate the efficient use of natural resources. GreenShift’s revenue model is based on the use of its proprietary technologies to become a leading producer of biomass-derived products, and to do so at reduced cost and risk by extracting and refining raw materials that other producers cannot access or process. Additional information 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.
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