Die 5000% in 18 Monaten sind leider nicht Wahrheit geworden. Dennoch vermute ich, das der Ölpreis nicht noch wesentlich fällt und grüner Sprit eine Alternative ist.
GS CleanTech Releases Shareholder Letter
Tuesday October 3, 11:40 am ET
Company Provides Update on Initiative to Increase Efficiency of Corn-Derived Ethanol Production
NEW YORK--(BUSINESS WIRE)--GS CleanTech Corporation (OTC Bulletin Board: GSCT - News) chairman and chief executive officer, Kevin Kreisler, issued the following letter to GS CleanTech's shareholders today:
Dear Shareholders:
We have accomplished much this year and I wanted to take this opportunity to update you on our progress. Earlier this year we announced our plans to focus on delivering new technologies to the ethanol production industry with a view towards maximizing the output and profitability of conventional corn-derived ethanol production.
Update on Ethanol Efficiency Program
The first of the technologies that we are bringing to ethanol producers to achieve this is our patent-pending Corn Oil Extraction System ("COES"), a proprietary technology that extracts a high grade corn oil from an ethanol production co-product called distillers dried grains ("DDG") that can be converted into biodiesel on about a 1:1 volumetric basis.
While still in the DDG, this corn oil is ordinarily worth about $0.035 per pound, or $0.26 per gallon, in most North American markets. If extracted from the DDG, this corn oil is worth about $0.12 to $0.17 per pound, or about $0.90 to $1.26 per gallon, as a commercial feed or a feedstock for conversion into biodiesel fuel. Based on current market prices, a typical 50 million gallon per year dry mill ethanol production facility using our technology can produce more than 3 million gallons of corn oil with an estimated current value of between $2.7 million to $3.8 million.
To date, our corn oil extraction program has been met with significant interest and we have executed contracts to phase up to about 22 million gallons per year of corn oil extraction from the following existing and planned ethanol facilities between this quarter and 2008:
Adkins Energy, Lena, Illinois (www.adkinsenergy.com) - currently under construction, this system is designed to produce an estimated 1.5 million gallons of corn oil per year and is scheduled for commissioning later this year at an existing ethanol plant.
Utica Energy, Oshkosh, Wisconsin (www.uticaenergy.com) - with the first of two systems currently in construction, this existing ethanol facility will produce about 1.5 million gallons of corn per year later this year when the first system is commissioned, and about 3.3 million gallons of corn oil per year in total when a second COES system is commissioned later next year.
Golden Grain Energy, Mason City, Iowa (www.goldengrainenergy.com) - slated for commissioning during the first quarter 2007, this facility will initially produce about 1.5 million gallons of corn oil per year but will scale up to between 3.0 and 4.5 million gallons per year in 2007 when this existing facility completes a plant expansion.
New Producer in Illinois - this confidential producer's contract calls for the installation of 8 of our extraction systems during 2007 and 2008 designed to extract about 12 million gallons of corn oil per year.
These contracts are based on our provision of turn-key extraction systems for no up-front cost in return for long-term agreements to purchase the extracted corn oil based on a fixed discount to prevailing fuel prices - or for about $0.90 to $1.26 per gallon based on current fuel prices.
These contracts also provide our clients with an option to either take advantage of our 100% financing option or to purchase the equipment that we use to implement our technology, and we pay a lower percentage of prevailing fuel prices for the extracted oil under the financing option and a higher percentage under the purchase option.
Moving forward, and as our corn oil extraction program matures, we intend to bring a succession of additional technologies to ethanol producers that are designed to work in concert with their existing infrastructure.
During this past quarter, we acquired the exclusive right to sell and use two new technologies for use in the ethanol production industry - a very robust modular biodiesel production technology and a biomass gasification technology with gas to liquids and fuel reforming capability. Importantly, both technologies are capable of cost-effective and rapid application at small scales in a 'plug and play' manner at conventional corn-derived ethanol facilities along with our corn oil extraction technology.
The gasification technology, which is owned by a company called ZeroPoint Clean Technology, is a significant advance that we believe has the potential to alter the landscape of how the ethanol industry manages its biomass co-products, including the remaining DDG and corn stover. The output of this gasifier can either be used to generate electricity in a standard gas-fired generator or catalyzed into liquid fuels such as ethanol or synthetic diesel substitutes with the Fischer-Tropsch process.
Our ambition is to use our technologies to dramatically enhance the existing energy balance of corn-derived ethanol production in cost-effective and rapid ways. We believe that we can initially achieve this by converting extracted corn oil into biodiesel and gasifying and converting the remaining DDG and corn stover into ethanol and other biomass-derived gases for heat, power and additional fuel production.
In addition, and on the technology commercialization front, we are in the late-stages of our commercial pilot development of our CO2 Bioreactor, a technology that can potentially convert the exhaust carbon dioxide from the fermentation stage of the ethanol production process into an algae-based biomass and oxygen for additional fuel production via gasification. Once complete, we plan to install our pilot CO2 Bioreactor at an early adopter ethanol production facility for commercial scale testing. If our pilot is successful, our CO2 Bioreactor has the potential to significantly increase the fuel production of host ethanol facilities.
We also hold the rights to a number of other clean technologies that have the ability to convert waste or co-products in other industries into valuable resources. One of these technologies is our DAF Oil Extraction System, a process that enables meat and poultry processors to reduce disposal volumes of a fat-laden waste stream that is commonly disposed through land application. Our technology reduces the volume of this waste by as much as 80% by removing the fat in the waste - this fat is a good feedstock for biodiesel production.
We recently executed a contract with a confidential Arkansas-based poultry processing facility to extract more than 1.5 million gallons per year of poultry fat. This system is currently under construction and is scheduled to commence operations later this year. In much the same way as our corn oil model, our DAF model is based on our purchase and resale of the extracted fat as a biodiesel feedstock.
In all, with just our executed contracts to date, we have the right to buy and sell more than 22 million gallons of biodiesel feedstock on the basis of mostly hedged discounted prices. We believe that this presents us with compelling economics and we will remain focused on the deployment of these contracted systems while we continue to focus on the conversion of the qualified leads in our sales pipeline into additional contracts.
We believe that there is an urgent need to quickly enhance the yield and operating efficiency of standard ethanol production, and we are committed to doing so.
Our existing clients clearly recognize this need as well and have each shown tremendous leadership by raising the bar for ethanol production efficiency. Our team is very proud to provide our clients with the technology to achieve this and we hope to have continued opportunities to do so.
We are grateful for your continued interest and support and we look forward to our next communication.
Best Regards,
Kevin Kreisler
Chairman and Chief Executive Officer
GS CleanTech Corporation
GS CleanTech's Corn Oil Extraction System(TM)
Currently, the majority of the ethanol produced domestically is based on a dry milling technique that converts corn into ethanol. The corn is milled and then mashed with a combination of heat and enzymes that convert the starch in the corn into fermentable sugars. This mash is then cooled and mixed with yeast to create a fermented mash which is then separated into alcohol and stillage. The alcohol is distilled and dehydrated into 200 proof fuel-grade ethanol. The stillage is sent through series of centrifuges and evaporators and then to a rotary dryer to reduce moisture. The output of the drying stage is a co-product called distillers dried grains ("DDG") which is conventionally sold as a livestock feed.
GS CleanTech's patent-pending corn oil extraction technology intercepts the stillage flow in between the evaporation stage in the drying stage. The stillage has a concentrated syrup-like consistency after evaporation. GS CleanTech heats the concentrated stillage and then uses advanced centrifuge technology to spin crude corn oil out of the heated concentrated stillage. The crude corn oil is then routed to storage for use as a raw material for biodiesel production and the now defatted concentrated stillage is returned to the drying stage of the ethanol production process where it is dried into defatted DDG. GS CleanTech's corn oil extraction technology provides ethanol producers with the following benefits:
Increased Revenue - The corn oil extracted is readily amenable to refining into biodiesel fuel which creates a new revenue stream for participating ethanol facilities;
Reduced Operating Costs and Emissions - Corn oil removal can improve drying efficiency by more than 10% with reduced natural gas or coal needs and reduced emissions (NOx, SOx, VOC, and CO2);
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; and,
Increased Inclusion Rates - Corn oil removal can improve defatted DDG marketability and inclusion rates by reducing fat content.
GS CleanTech's pricing model for its corn oil extraction technology is based on GS CleanTech's provision of turn-key extraction systems for no up-front cost in return for long-term agreements to purchase the extracted corn oil based on a fixed discount to prevailing fuel prices. Alternatively, GS CleanTech's clients have the option of purchasing their installation of the corn oil extraction technology provided that GS CleanTech retains the right to purchase the extracted corn oil based on a fixed discount to prevailing fuel prices for the life of the use of the technology.
About GS CleanTech Corporation
GS CleanTech Corporation (OTC Bulletin Board: GSCT - News) provides applied engineering and technology transfer services based on clean technologies and process innovations that make it cost-effective and easy to recycle and reuse resources.
Additional information on GS CleanTech's Corn Oil Extraction System and GS CleanTech's ethanol efficiency program is available online at www.gs-cleantech.com.
GS CleanTech is about 80% owned by GreenShift Corporation (OTC Bulletin Board: GSHF - News), a company devoted to facilitating the efficient use of natural resources.
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 GS CleanTech 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.
Contact:
GS CleanTech Corporation
212-994-5374
Fax: 646-572-6336
investorrelations@gs-cleantech.com
www.gs-cleantech.com
or
Investor Relations:
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Andrew Hellman, 212-732-4300
or
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Deborah McCandless, 212-590-0523
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