Veridium Technology Converts Exhaust Carbon Dioxide from Fermentation Stage of Ethanol Facilities into New Ethanol and Biodiesel
THURSDAY, FEBRUARY 23, 2006 9:25 AM
- BusinessWire
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MOUNT ARLINGTON, N.J., Feb 23, 2006 (BUSINESS WIRE) -- Veridium Corporation (VRDM) today announced its new patent-pending technology for the conversion of exhaust carbon dioxide from the fermentation stage of ethanol production facilities back into new ethanol and biodiesel.
Earlier this year, Veridium announced its patented bioreactor process for reducing greenhouse gas emissions from fossil-fuelled combustion processes. The new technology is simple, robust and scalable, and was designed to stimulate additional revenues for power plant operators while decreasing plant emissions. Veridium's bioreactor is based on a new strain iron-loving blue-green algae discovered thriving in a hot stream at Yellowstone National Park. The algae use the available carbon dioxide and water to grow new algae, giving off pure oxygen and water vapor in the process. Once the algae grow to maturity, they fall to the bottom of the bioreactor where the algae can be harvested for other uses several times per day. One such use is conversion into clean fuels such as ethanol and biodiesel.
Ethanol is made from starch-based feedstocks and biodiesel is made from animal fats and vegetable oils. Corn, the primary feedstock for ethanol production today, contains about 66% starch and 3-4% oil.
Veridium's new BioStarch Recirculation System(TM) routes exhaust carbon dioxide from the fermentation stage of the ethanol production process through Veridium's bioreactor where it is consumed by algae that are comprised of about 94% starch and about 6% oil.
"The algae convert exhaust carbon dioxide and sunlight into biomass," said David Winsness, chief executive officer of Veridium's industrial design division. "This biomass is a very efficient feedstock for ethanol production and is itself a concentrated source of the primary ingredient of ethanol. It doubles in mass several times per day - a rate much faster than plants, and it does all of this on a footprint that is orders of magnitude less than the surface area required for crops. That said, this technology is by no means a replacement for crops. Traditional ethanol feedstocks are still required to generate the quantities of carbon dioxide needed to make our bioreactor effective."
Kevin Kreisler, Veridium's chairman, added that: "this is about enhancing the efficiency of our domestic ethanol production infrastructure and doing it as quickly as possible. Our goal here was to increase ethanol production and plant profitability on reduced capital and operating cost by using as much as possible of the plant's existing infrastructure. We believe that we were successful in doing so here and that appreciable gains in ethanol production are probable. We are actively seeking an early adopter of the technology for our first deployment to prove out our projected gains."
Veridium has already made significant gains in profitability possible for ethanol producers with its patent-pending Corn Oil Extraction Systems(TM) by extracting corn oil, which is an excellent biodiesel feedstock, from an ethanol production by-product called distillers dried grain.
The 6% oil contained in the algae used in Veridium's new BioStarch Recirculation System(TM) is also expected to further increase the production of oil from Veridium's Corn Oil Extraction System(TM). This results in the production of increased volumes of high grade biodiesel feedstocks from each host ethanol facility, increased profitability for host ethanol facilities, and increased revenues for Veridium.
About Veridium's Corn Oil Extraction System(TM)
Currently, the majority of ethanol production is based on a dry milling technique that utilizes more than 1 billion bushels of corn to produce 3 billion gallons per year of ethanol (Fuel #1). The dry mill process converts the starch from the kernel of corn into sugar and then the sugar into ethanol. The balance of the corn (non-starch components) then goes through a dewatering and dehydration process where the byproduct is sold as a commercial feed ingredient called distillers dried grain ("DDG"). DDG contains the majority of the corn oil that was present in the kernel. Today, the 1 billion bushels of corn currently used in the dry mill ethanol process contain roughly 300 million gallons of corn oil that is currently sold for about $0.03 per pound as commercial feed. The new Veridium technology presents another option - cost effective conversion into Biodiesel (Fuel #2).
Veridium's Corn Oil Extraction System(TM) offers the following compelling benefits for ethanol producers:
-- Low Operating Costs - the system requires less than $0.05 per gallon of corn oil produced;
-- High Recovery Rates - the technology is capable of recovering up to 75% of the corn oil within the DDG;
-- Increased Revenue - the corn oil extracted with Veridium's technology is readily amenable to refining into biodiesel fuel which creates a new revenue stream for participating ethanol facilities;
-- Reduces Current Operating Costs and Emissions - Veridium's technology improves the drying efficiency of the DDG which in turn reduces overall plant operating costs and emissions; and,
-- Low Capital Cost - Veridium's oil extraction methods have a capital cost of less than 15% of traditional corn oil extraction methods.
Pictures and video of the new Veridium technology are available online at www.meangreenbiofuels.com - this system is in use today and efficiently recovers corn oil from concentrated thin stillage.
About Veridium Corporation
Veridium Corporation (VRDM) is a publicly traded industrial waste recycling company and holds the rights to more than a dozen proprietary universal processing, water purification, emissions control and waste recycling technologies.
Veridium's business model is based on the engineering and marketing of green innovations and processes that enhance manufacturing efficiencies, improve resource utilization and minimize waste. Veridium's mission is to deliver consumer oriented Natural Solutions(TM) based on an array of green technologies and applied engineering expertise that reduce waste at the source and make it easier for people and businesses to recycle and reuse resources. Veridium plans to focus on the continued acquisition, development and marketing of benchmark green technologies and products that accomplish the following key goals:
-- Reduce the volume of waste generated by residential and commercial consumers;
-- Increase the convenience and decrease the cost of recycling by residential and commercial consumers; and,
-- Increase the cost-efficiency of processing certain types of industrial wastes.
Veridium is about 65% owned by GreenShift Corporation (OTC Bulletin Board: GSHF), 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.
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 Veridium 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: Veridium Corporation
Veridium Corporation
Investor Relations, 888-870-9197, Extension 291
Fax: 646-792-2636
investorrelations@veridium.com
www.veridium.com
or
CEOcast, Inc. for Veridium
Ed Lewis, 212-732-4300
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