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I'm not a big fan of the Ethanol craze. However, the last time crude oil spiked big VRDM did too (from .05 to .30 or so). If Ethanol gets any big PR you might see this thing jump again. Any thoughts?...
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it's looks pretty cheap at this price.. but i would wait and see a bit, since i don't want to hold anything for too long.. if u do buy, u may have a wait a bit, unless there are immiment PRs coming
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GS CleanTech Acquires Exclusive Rights to Biodiesel Production Technology for Ethanol Production Industry Jul 18, 2006 8:00:00 AM Copyright Business Wire 2006
NEW YORK--(BUSINESS WIRE)--July 18, 2006--
GS CleanTech Corporation (OTC Bulletin Board: VRDM) today announced its execution of an agreement with NextGen Fuel, Inc. for the exclusive rights to distribute and use NextGen's patent-pending continuous-flow, multi-feedstock biodiesel process technology in the Ethanol Production Industry.
Process Intensification
NextGen's biodiesel process technology leverages innovative process intensification techniques to accelerate and enhance traditional biodiesel reaction kinetics, thus decreasing process time, reducing energy and raw material needs, and increasing product quality. These benefits translate to increased capital and operating cost efficiencies at smaller scales as compared to traditional biodiesel process technologies.
David Winsness, president and chief executive officer of GS CleanTech's process engineering division, said that "Among the more significant benefits of the NextGen technology is its ability to produce high quality biodiesel out of multiple alternative feedstocks continuously at small scales. This is important because our clean fuels program is based on delivering technologies to our clients that produce clean fuels cost-effectively out of alternative feedstocks such as corn oil. These benefits and NextGen's rapid 12 week delivery times make the NextGen technology a highly attractive option."
Focus on Ethanol
GS CleanTech is currently focused on delivering its technologies and process innovations to the Ethanol Production Industry with a view towards maximizing the yield of corn-based ethanol production.
Traditional ethanol processing converts each bushel of corn, which weighs about 54 pounds, into about 18 pounds of ethanol, 18 pounds of carbon dioxide, and 18 pounds of distillers dried grains (DDG), which contain about 2 pounds of fat. This corresponds to a corn to clean fuel conversion efficiency of about 33%, or about 2.8 gallons of clean fuel per bushel of corn. GS CleanTech's ambition is to increase this efficiency as much as possible.
GS CleanTech's own patent-pending corn oil extraction technology converts the fat in the DDG into a high grade corn oil that can then be converted into biodiesel on close to a 1:1 volumetric basis. This increases the corn to clean fuel conversion efficiency described above to 36%, or about 3.0 gallons of clean fuel per bushel of corn.
Winsness added: "The NextGen technology is a perfect compliment to our corn oil and other biodiesel feedstock acquisition technologies as it creates valuable opportunities for cost-effective production and sales of biodiesel in the regions and communities that are producing the corn. We are excited to add this valuable technology to our portfolio of clean technologies."
About GS CleanTech Corporation
Formerly named Veridium Corporation, GS CleanTech Corporation (OTC Bulletin Board: VRDM) provides applied engineering and industrial design services based on clean technology and process innovations that make it cost-effective and easy to recycle and reuse resources.
GS CleanTech is majority-owned by GreenShift Corporation (OTC Bulletin Board: GSHF), a company devoted to facilitating the efficient use of natural resources.
About NextGen Fuel, Inc.
NextGen Fuel, Inc. is a privately held Delaware corporation deploying the world's leading modular, multi-feedstock biodiesel process technology. NextGen's technology can reduce biodiesel capital and operating costs by as much as 50% over traditional approaches and can be deployed into a plant as quickly as 12 weeks. NextGen not only offers its clients the best of breed and most cost effective technology, it assists its customers with detailed biodiesel project feasibility analysis as well as securing project finance and establishing long-term feedstock and fuel off-take arrangements. NextGen Fuel, Inc. is a part of the Golden Technology Management portfolio. Additional information on NextGen Fuel, Inc. is available online at www.nextgenfuel.com.
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GS CleanTech Executes Agreement with Ethanol Producer to Extract Corn Oil for Conversion into Biodiesel Monday July 31, 3:35 pm ET
NEW YORK--(BUSINESS WIRE)--July 31, 2006--GS CleanTech Corporation (OTC Bulletin Board: GSCT - News) today announced its execution of a definitive agreement with an ethanol producer to extract about 1.2 million gallons per year of crude corn oil from the producer's distillers dried grains for conversion into a biodiesel feedstock using GS CleanTech's proprietary corn oil extraction technology.
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.
Under the terms of the agreement, GS CleanTech expects to generate an estimated $1.4 million to $1.8 million in annualized revenues by purchasing and selling the ethanol facility's extracted corn oil as a biodiesel feedstock.
"Our patent-pending Corn Oil Extraction Systems(TM) have been specifically engineered to help ethanol producers enhance production and increase revenues out of their existing crop in cost-effective and rapid ways," said David Winsness, GS CleanTech's president and chief operating officer.
GS CleanTech's Focus on Ethanol Production
GS CleanTech is currently focused on delivering its technologies and process innovations to the Ethanol Production Industry with a view towards maximizing the yield of corn-based ethanol production.
Traditional ethanol processing converts each bushel of corn, which weighs about 54 pounds, into about 18 pounds of ethanol, 18 pounds of carbon dioxide, and 18 pounds of distillers dried grains (DDG), which contain about 2 pounds of fat. This corresponds to a corn to clean fuel conversion efficiency of about 33%, or about 2.8 gallons of clean fuel per bushel of corn. GS CleanTech's ambition is to increase this efficiency as much as possible.
GS CleanTech's patent-pending corn oil extraction and biodiesel processing technologies convert the fat in the DDG into a high grade corn oil that can then be converted into biodiesel on close to a 1:1 volumetric basis. This increases the corn to clean fuel conversion efficiency described above to 36%, or about 3.0 gallons of clean fuel per bushel of corn.
Winsness added: "The increased yield per bushel may not seem like much, but it adds up. Our corn oil extraction program allows a typical 50 million gallon per year ethanol production facility to increase their revenues by about 3.5%. That works out to as much as $4.7 million in additional annualized sales. We are very excited by the new agreement with the ethanol facility and, with many more systems in our hard sales pipeline, we look forward to increased opportunities to help ethanol producers and their communities maximize their fuel yield out of their existing crops."
One Kernel to Two Fuels with GS CleanTech's Corn Oil Extraction Systems(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 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 $0.035 per pound as commercial feed. GS CleanTech's corn oil extraction technology presents another option - cost effective conversion into biodiesel (Fuel #2).
GS CleanTech's Corn Oil Extraction System(TM) offers the following compelling benefits for ethanol producers:
* 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.
Pictures and video of the GS CleanTech's corn oil extraction technology are available online at http://www.veridium.com/cornoil.php - this system is in use today and efficiently recovers corn oil from concentrated thin stillage.
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