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[QUOTE]Originally posted by J_U_ICE: [QB] GSHF .133 GS AgriFuels to Convert Corn Oil into Biodiesel at Ethanol Facilities Thursday , November 09, 2006 08:10 ET NEW YORK, Nov 09, 2006 (BUSINESS WIRE) -- GS AgriFuels Corporation (OTC Bulletin Board: GSGF) today announced its plans to co-locate integrated corn oil-to-biodiesel production technologies on-site at ethanol production facilities. GS AgriFuels' biodiesel production technologies, developed by recently acquired NextGen Fuel, Inc., are modular and can be integrated directly into existing and new ethanol production facilities in a plug-and-play manner. The technologies allow host ethanol facilities to quickly and cost-effectively participate in the benefits of corn oil biodiesel production. Benefits of Program -- Integral, modular and plug and play technologies -- Low capital and operating expense versus traditional methods -- Rapid commissioning - less than 9 months from contract -- Host facilities can own equity in co-located production assets and have rights to purchase or re-sell biofuel output -- Participating ethanol facilities generate significant additional annualized income and earn a return on their investment in the program about 1.5 years How the Program Works GS AgriFuels' sister company, GS CleanTech Corporation (OTC Bulletin Board: GSCT), a process engineering and technology transfer company, sells technology and equipment to ethanol facilities designed to extract corn oil from distillers dried grains ("DDG"), a co-product of corn ethanol production that is currently sold as a feed product. GS CleanTech sells its Corn Oil Extraction Systems(TM) to participating facilities and maintains the right to purchase the extracted corn oil at a substantial premium to its current value locked in the DDG. The ethanol facility receives 100% of the economics from the corn oil purchases. The jointly-owned biodiesel facility will acquire this oil and convert it to biodiesel on site. The host ethanol facility not only receives a stake in the biodiesel facility and its pro rata share of profits, but also the right to acquire or market all of the biodiesel output. Impact of Corn Oil Extraction & Integral Biodiesel Production on 100MM Gallon Per Year Ethanol Facility An ethanol facility converts 36 million bushels of corn into 100 million gallons of ethanol and 320,000 tons of DDG. DDG has a value of only $0.035 per pound while fuel prices exceed $0.30 per pound and therefore it is highly advantageous to convert as much as possible of this DDG byproduct into fuel. GS CleanTech's patent-pending corn oil extraction technology extracts roughly 7 million gallons of the fat in the DDG in the form of corn oil that can then be converted into biodiesel on close to a 1:1 volumetric basis. GS AgriFuels' patent-pending NextGen 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, and much quicker lead times. Used in concert, both technologies increase the corn to fuel yield by roughly 7% and corresponding revenues by more than 6%. Tom Scozzafava, president and chief operating officer of GS AgriFuels, added that "The opportunity to create and offer this program to ethanol producers was a key motivation for our recent acquisition of NextGen Fuel. NextGen's biodiesel technology completes the technology product suite of corn oil-to-biodiesel and allows us to offer the program in the most rapid and cost effective manner. The NextGen biodiesel process technology is a very robust, continuous flow process that is less capital intensive to build and cheaper to operate as compared to traditional batch methods. It is cost-effective at small scales and its plug and play capability equates to rapid deployment cycles. For example, a host ethanol facility that signs up for our program today can be in operation before the end of 2007. We are very excited to offer this exciting program to ethanol producers and their communities." Additional information on GS AgriFuels' Ethanol Program is available online at [URL=http://www.gs-agrifuels.com/ethanol.]www.gs-agrifuels.com/ethanol.[/URL] About GS AgriFuels Corporation GS AgriFuels was founded to produce and sell clean fuels from agriproducts in innovative ways. GS AgriFuels' business model is based on the manufacturing and sales of proprietary biodiesel equipment and the use of new technologies to produce biodiesel and ethanol from non-traditional feedstocks such as corn oil and cellulosic biomass through the utilization of several new proprietary technologies, including innovative desiccation, process intensification, gasification, catalytic, and carbon capture technologies, synergistically at small-scales to enable the refining of many forms of biomass into clean fuels at Integrated Multi-Fuel ("IMF") production facilities. GS AgriFuels acquired NextGen Fuel, Inc. in October 2006. GS AgriFuels is about 90% owned by GreenShift Corporation (OTC Bulletin Board: GSHF), a company devoted to facilitating the efficient use of natural resources. About GS CleanTech Corporation GS CleanTech 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 about 80% owned by GreenShift 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 whole stillage flow in between the distillation stage in the final drying stage. GS CleanTech routes the whole stillage through its extraction technology where up to 75% of the total oil within the corn is extracted using safe, non-solvent based extraction methods. The crude corn oil is then routed to storage for use as a raw material for biodiesel production and the now defatted whole stillage is returned to the drying stage of the ethanol production process where it is efficiently 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. Additional information on GS CleanTech's Corn Oil Extraction System and GS CleanTech's ethanol efficiency program is available online at [URL=http://www.gs-cleantech.com.]www.gs-cleantech.com.[/URL] 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 AgriFuels 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: GS AgriFuels Corporation GS AgriFuels Corporation, 212-994-5374 Fax: 646-572-6336 Email: investorrelations*gs-agrifuels.com Web: [URL=http://www.gs-agrifuels.com]www.gs-agrifuels.com[/URL] or Investor Relations: CEOcast, Inc. Andrew Hellman, 212-732-4300 or Public Relations: Walek & Associates Deborah McCandless, 212-590-0523 Fax: 212-889-7174 E-mail: dmccandless*walek.com Web: [URL=http://www.walek.com]www.walek.com[/URL] Copyright Business Wire 2006 [/QB][/QUOTE]
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