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Greenshift Announces the Formation of Tornado Trash Corporation
THURSDAY , SEPTEMBER 08, 2005 08:33 AM
MOUNT ARLINGTON, N.J., Sep 08, 2005 (BUSINESS WIRE) --Greenshift Corporation (OTC Bulletin Board: GSHF) today
announced the formation of Tornado Trash Corporation ("TTC"). TTC is a
development stage company whose focus is to develop and deploy
innovative green technologies designed to minimize and eliminate the
practice of landfill disposal by converting trash into valuable
metals, chemicals, plastics, fuels and energy.
GSHF plans to license an array of green technologies to TTC,
including the Tornado Generator and Ovation Product's Clean Water
Appliance. GSHF plans to take TTC public in the fourth quarter this
year and GSHF intends to pay a dividend of the newly public TTC shares
to GSHF shareholders at that time.
TTC plans to staff up during the balance of Q3 2005, and then
expects to acquire its first site co-located at a small municipal sold
waste landfill in the eastern U.S. In addition, the company's
objective is to design and introduce residential and commercial scale
Tornado Waste Processing Appliances. INSEQ Corporation (OTC Bulletin
Board: INSQ) shall play a vital role in the design and production of
these devices.
Kevin Kreisler, chairman and chief executive officer of Greenshift
Corporation, adds "While the technology has demonstrated an
environmentally friendly and cost effective method to eliminate the
need for additional land fill sites, our ultimate objective is to
scale the technology for residential and commercial applications.
Imagine the quantum changes made when these Greenshift Technologies
are taken to the source (our homes and businesses). We essentially
eliminate the need for Water, Sewage and Trash Removal
Infrastructures."
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;
-- Ethanol Oil Recovery Systems
-- GreenShift Industrial Design Corporation;
-- Coriolis Energy Corporation;
-- Mean Green BioFuels Corporation;
-- TDS (Telemedicine), Inc.;
-- Sterling Planet, Inc.;
-- Ovation Products Corporation;
-- TerraPass 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.
SOURCE: Greenshift Corporation
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