GS CleanTech Technologies Capable of Distributed Biodiesel Production
NEW YORK--(BUSINESS WIRE)--Aug. 9, 2006--
GS CleanTech Corporation (OTC Bulletin Board: GSCT) today announced its plans to bundle its modular, small-scale corn oil and animal fat extraction technologies with applications of its patent-pending continuous-flow, multi-feedstock biodiesel process technology.
David Winsness, GS CleanTech's president and chief operational officer, said that "Our biodiesel process technology has the ability to produce high quality biodiesel out of multiple alternative feedstocks continuously at small scales. This is particularly attractive to us because it allows us to bundle our modular biodiesel production technology with applications of our corn oil and animal fat extraction technologies at relatively small scales for qualified facilities. Modular, small-scale feedstock extraction and biodiesel production capabilities enable our clients to increase their revenues in a cost-effective and risk averse way."
Corn Oil and Animal Fat Extraction Technologies
GS CleanTech has executed agreements with ethanol producers to extract more than 3.95 million gallons per year of crude corn oil from the ethanol facilities' distillers dried grains for conversion into a biodiesel feedstock using GS CleanTech's proprietary Corn Oil Extraction Systems(TM).
GS CleanTech has also contracted to extract more than 1.0 million pounds per year of poultry fat annually from a poultry processing facility's dissolved air flotation sludge waste stream for conversion into a biodiesel feedstock using GS CleanTech's proprietary animal fat recycling technologies.
GS CleanTech's corn oil extraction and animal fat recycling technologies essentially extract the fat contained in these by-products and waste streams and convert it into a high grade raw material that can then be refined into biodiesel on close to a 1:1 volumetric basis.
GS CleanTech's pricing model for its corn oil extraction and animal fat recycling technologies is based on GS CleanTech's provision of turn-key systems for no up-front cost in return for long-term agreements to purchase the converted corn oil and animal fat based on a fixed discount to prevailing fuel prices. Under the terms of its current agreements, GS CleanTech will initially generate an estimated $4.0 million to $5.4 million in annualized revenues by purchasing and selling extracted corn oil and animal fat as a raw material for conversion into refined biodiesel later this year when the systems are brought online. This amount is projected to increase to more than $5.2 million to $6.6 million in annualized revenues as the contracted extraction systems are brought fully operational later next year.
About GS CleanTech Corporation
GS CleanTech Corporation (OTC Bulletin Board: GSCT) 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.
GS CleanTech is a majority-owned subsidiary of GreenShift Corporation (OTC Bulletin Board: GSHF), a company devoted to facilitating the efficient use of natural resources. |
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