GS CleanTech Completes Installation of Corn Oil Extraction Technology
Tuesday October 10, 8:00 am ET
NEW YORK--(BUSINESS WIRE)--GS CleanTech Corporation (OTC Bulletin Board: GSCT - News) today announced its installation of the first stage of GS CleanTech\'s Corn Oil Extraction System(TM) ("COES") at Little Sioux Corn Processors, LLC ("Little Sioux"), a Marcus, Iowa based ethanol producer.
GS CleanTech\'s patent-pending corn oil extraction technology has been engineered to help ethanol producers enhance production and increase revenues out of their existing crop in cost-effective and rapid ways. GS CleanTech\'s COES can extract about 3 million gallons of crude corn oil from a typical 50 million gallon ethanol production facility in two 1.5 million gallon per year stages.
Little Sioux is an innovative farmer-owned ethanol production facility that was commissioned in April 2003 and was designed to produce 40 million gallons of ethanol per year. Facility operators have been able to eliminate processing bottlenecks to allow it to consistently produce in excess of 50 million gallons of ethanol annually, and Little Sioux continues to implement new processing technologies.
The first stage of Little Sioux\'s COES installation was completed this past week and the system is now fully operational extracting corn oil at a rate of about 1.5 million gallons per year from an ethanol co-product called distillers dried grains ("DDG").
David Winsness, GS CleanTech\'s president and chief operational officer, said that "the Little Sioux installation was one of two early adopter sites that we have been working with to demonstrate the performance of our extraction technology. The leadership of Little Sioux is clearly committed to innovation. We were very fortunate to have had the opportunity to work with Little Sioux and we look forward to continued opportunities to doing so in the future."
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
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Andrew Hellman, 212-732-4300
or
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Deborah McCandless, 212-590-0523
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