Na, vielleicht wirds ja doch noch was mit GSEG. Wenn die zukaufen, dann kanns denen wenigstens nicht zu schlecht gehen!
March 13, 2007 - 8:10 AM EDT
GS AgriFuels Acquires Oilseed Crushing Facility
Montana-Based Biorefinery Becomes Wholly Owned Subsidiary
GS AgriFuels Corporation (OTC Bulletin Board: GSGF) today announced its acquisition of about 85% of the outstanding capital stock of Sustainable Systems, Inc. (“Sustainable”) for a total purchase price of about $12.6 million. Sustainable is now a wholly-owned subsidiary of GS AgriFuels.
Sustainable owns an oilseed crushing facility in Culbertson, Montana, and is in the business of producing and selling high oleic safflower, sunflower, canola and other high value vegetable oils. Sustainable is currently expanding its oilseed extraction and refining capability from 300 tons per day to 600 tons per day.
Sustainable’s growth plans are based on horizontal and vertical expansion through the construction or acquisition of additional oilseed crush and biodiesel processing plants at strategic locations.
GS AgriFuels’ President and Chief Executive Officer, Tom Scozzafava, stated, “We are excited to have acquired what we see as a very strategic asset based on its oilseed processing and biomass production and handling capabilities. We are also very pleased to be able to bring on Sustainable’s management team to GS AgriFuels.”
Paul Miller, Sustainable President and CEO added, “Combining Sustainable’s food and fuel business model with GS AgriFuels accelerates the development of our oilseed crush biorefineries and related biomass to energy development projects. In addition, we will continue the expansion of and accelerate our ability to service customers in our food grade vegetable oil program.”
About GS AgriFuels Corporation
GS AgriFuels (www.gs-agrifuels.com) was founded to produce and sell clean fuels from agriproducts in innovative ways. GS AgriFuels’ business model is based on the manufacturing and sales of proprietary biodiesel equipment and the use of new technologies to produce biodiesel and ethanol from non-traditional feedstocks such as corn oil and cellulosic biomass through the utilization of several new proprietary technologies, including innovative desiccation, process intensification, gasification, catalytic, and carbon capture technologies, synergistically at small-scales to enable the refining of many forms of biomass into clean fuels at Integrated Multi-Fuel (“IMF”) production facilities.
GS AgriFuels is party to a merger agreement with, GS Energy Corporation (OTC Bulletin Board: GSEG) pursuant to which holders of GS Energy common stock will receive 1 share of GS AgriFuels common stock for each 1,000 shares owned in GS Energy. The filings for this transaction are expected to be filed in April 2007.
GS AgriFuels and GS Energy are both majority owned by GreenShift Corporation (OTC Bulletin Board: GSHF), a company devoted to facilitating the efficient use of natural resources.
About Sustainable Systems, Inc.
Sustainable Systems, Inc. (www.sustainableinc.com) is an agricultural processor that currently produces high-value culinary oils and is positioned to capitalize on the emerging biodiesel industry. The Company is executing on a significant opportunity within the expanding biodiesel fuel markets and its expanding food grade oil markets. Sustainable’s business is to develop and operate oilseed crush facilities and bio-refineries that convert agricultural raw materials (predominantly oilseeds) into specialty food grade products and renewable fuel. The Company is expanding capacity at its existing Montana oilseed extraction and refining plant from 300 tons per day to 600 tons per day. In addition, Sustainable is commencing the projects of two additional oilseed extraction and biodiesel refineries at strategic locations within the United States.
grüße
gianni
