posted
i played this once today............but im packin' my bags, headed outta town for 10 days......beleive me diana there a quite a few lurker's ......GL.......see ya on the flipside
-------------------- "IT'S NOT LUCK IT'S DAYTRADIN'"
"HERE'S MY 2 CENT'S, SEE IF YA CAN TURN IT INTO A BUCK"
IP: Logged |
posted
I bailed at .0059 yesterday--will look for the low to get back in..
ICDT Incode Technologies Corp (OTC BB) 6/29/2005 12:00:00 AM ET
Realtime Quote $0.01 - $0 (-10.53%) Refresh Quote
Press Release for Incode Technologies Corp
GreenShift Acquires Stake in Ethanol Oil Recovery Systems 6/30/2005 8:00:29 AM Breakthrough Green Technology Efficiently Converts Corn Oil Into Biodiesel Fuel
MOUNT ARLINGTON, N.J., June 30, 2005 /PRNewswire-FirstCall via COMTEX/ -- GreenShift Corporation ( GSHF ) today announced the completion of its investment in Ethanol Oil Recovery Systems, LLC ("EORS").
EORS, a green technology development company, is the inventor of a new patent-pending breakthrough technology for the cost-effective conversion of corn oil into biodiesel fuels. EORS has agreed to transfer its technology to a new development partnership called SunSource BioEnergy, LLC, that is comprised of and managed by some of the ethanol industry's leading producers, including VeraSun Energy, Glacial Lakes Energy, KAAPA Ethanol, Golden Grain Energy. EORS owns an 18% stake in the SunSource BioEnergy partnership.
"Our technology is an innovative and unique approach. After considerable research, development and testing, we are pleased to contribute the technology to the SunSource BioEnergy industry partnership," stated David Cantrell, chairman and founder of EORS.
Biodiesel currently comes mainly from soybeans as well as other plants and animal fats. Corn has historically not been used because conventional extraction processes were not capable of producing a high enough grade of oil. The new technology extracts crude corn oil from the evaporation area of dry mill ethanol facilities. SunSource BioEnergy plans to finance the construction of a 50 million gallon biodiesel production facility that will refine the crude corn oil and convert it into biodiesel fuels. By extracting the corn oil, ethanol facilities gain a new revenue stream and reduce costs through the improved operating efficiency of certain of their distilling processes. SunSource BioEnergy additionally plans to offer the technology and oil purchase agreements to other ethanol producers across the industry.
Recently cited by President Bush as "one of our nation's most promising alternative fuel sources," biodiesel is a clean burning alternative fuel that contains no petroleum. It can be blended at any level with petroleum diesel to create a biodiesel blend, it can be used in diesel engines with little or no modifications, and it is simple to use, biodegradable, nontoxic, and essentially free of sulfur and aromatics.
Over 37 billion gallons of petroleum diesel are used for domestic transportation each year in the U.S. The total demand for diesel fuel approaches 50 billion gallons per year when construction, farming and other off-road uses are considered. The current production of biodiesel in the U.S. is about 30 million gallons per year.
Kevin Kreisler, GreenShift's chairman and chief executive officer, said that, "This technology is an excellent example of how we can and should be using our natural resources better, and how an incremental advance in technology can enable quantum environmental gains. In addition to generating additional revenue and decreasing costs, SunSource BioEnergy's production can be expected to benefit the environment by offsetting demand for fossil fuels, and by reducing the generation of greenhouse gases since biodiesel is a cleaner burning fuel as compared to traditional fossil fuels. We are proud to add EORS to our portfolio of environmentally proactive companies."
The new SunSource biodiesel facility is expected to be completed in 2007. Under the terms of its agreement with EORS, GreenShift is acquiring a 15% stake in EORS for about $1.2 million. The investment in EORS is expected to produce an annual return to GreenShift of in excess of $1.5 million once the new facility is operational.
About SunSource BioEnergy, LLC
VeraSun Energy, a renewable energy company, is headquartered in Brookings, South Dakota. The company owns and operates a 120-million-gallon ethanol plant in Aurora, South Dakota, and will complete construction of a 110-million- gallon plant in Fort Dodge, Iowa, later this year. When completed, VeraSun will become the second largest ethanol producer in the country. The company has taken a leadership role in the growing industry through its efforts to combine proven technology and production processes with an innovative and forward-thinking business approach. Additional information regarding VeraSun Energy is available online at http://www.verasun.com.
Glacial Lakes Energy, LLC operates a 50 million gallon per year ethanol production facility located in Watertown, South Dakota, and is a significant owner of Granite Falls Energy, LLC, who is constructing a new 40 million gallon ethanol production plant located in Granite Falls, Minnesota. Glacial Lakes Energy continues to prove to be successful in the industry by continually running above name plate capacity as well as providing a positive economic impact to the agriculture industry, community, and its shareholders. Additional information regarding Glacial Lakes Energy is available online at http://www.glaciallakesenergy.com.
KAAPA Ethanol, LLC, currently operates the largest farmer-owned ethanol plant in Nebraska. The company, located in Minden Nebraska, has announced plans to expand its current plant capacity to a level where annual production will exceed 90 million gallons of ethanol per year. KAAPA's participation in SunSource BioEnergy, follows KAAPA's commitment to optimize the value of every bushel of corn. Additional information regarding KAAPA Ethanol is available online at http://www.kaapaethanol.com.
Golden Grain Energy, LLC is a leading producer of ethanol and distiller grain co-products. The company operates an ethanol production facility in Mason City, Iowa. Golden Grain Energy, LLC is majority owned by local farmers and business persons. The plant, constructed by Fagen and utilizing ICM processing technology, is one of the most efficient production facilities in the Midwest. Golden Grain Energy, LLC focuses on adding value to the corn production of the area and enhancing the incomes of the investor partners while providing economic growth to the local area. Additional information regarding Golden Grain Energy is available online at http://www.goldengrainenergy.com.
Ethanol Oil Recovery Systems, LLC, a technology development company located in Clayton, Georgia. It recently completed commercialization of its patent pending whole stillage oil extraction technologies. David Cantrell is chairman and founder of Ethanol Oil Recovery Systems, LLC.
About GreenShift Corporation
GreenShift Corporation is a publicly traded business development company (BDC) whose mission is to develop and support companies and technologies that facilitate the efficient use of natural resources and contribute to the resolution of environmental challenges.
BDCs are regulated by the Investment Company Act of 1940 and are essentially publicly-traded equity funds where shareholders and financial institutions provide capital in a regulated environment for investment in a pool of long-term, small and middle-market companies through the use of senior debt, mezzanine financing, and equity funding.
GreenShift plans to use equity and debt capital to support and drive the value of its existing portfolio of companies and to make investments in a diversified mix of growth stage public and private businesses and technologies that facilitate the efficient use of natural resources and contribute to the resolution of environmental challenges. GreenShift's current portfolio includes investments in the following environmentally proactive companies:
In addition, GreenShift hopes to add investments in wind power, hydropower, practical centralized applications of hydrogen power, alternative fuels, infrastructure and mining to its portfolio during 2005 and 2006. Additional information regarding GreenShift Corporation is available online at http://www.greenshift.com.
Safe Harbor Statement
This press release contains statements, which 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 GreenShift 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 GreenShift Corporation
Jim Grainer, President and Chief Financial Officer of GreenShift Corporation, +1-973-398-8183, or Fax: +1-973-398-8037, investorrelations@greenshift.com; or Michael Cimini, +1-212-896-1233, mcimini@kcsa.com, or Garth Russell, +1-212-896-1250 grussell@kcsa.com, both of KCSA Worldwide
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Big Grin]](biggrin.gif)
