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GreenShift Issues Shareholder Letter; Current Operations Generate More Than $30 Million in Annualized Revenues and Own Array of Benchmark Clean Energy, Clean Fuel, Clean Air & Water, and Clean Production Technologies 3/8/2006
NEW YORK, Mar 08, 2006 (BUSINESS WIRE) -- GreenShift Corporation (OTC Bulletin Board: GSHF) chairman and chief executive officer, Kevin Kreisler, issued the following letter to its shareholders today:
Dear Shareholders:
In his State of the Union address earlier this year, President Bush outlined his administration's plans to promote energy independence for America while dramatically improving the environment. His various initiatives include a comprehensive energy plan that promotes energy efficiency and conservation, the development of clean technologies, and the distributed production of energy at home.
As GreenShift approaches the first anniversary of its commencement of operations, I personally found the following quote to be very meaningful:
"I urge you to pass these measures, for the good of both our environment and our economy. Even more, I ask you to take a crucial step and protect our environment in ways that generations before us could not have imagined. In this century, the greatest environmental progress will come about not through endless lawsuits or command-and-control regulations, but through technology and innovation."
This, fellow shareholders, is our founding ideal.
We face environmental challenges today that are the collective by-product of several generations of industrial development. At bottom, these challenges do not originate because of this development but rather because of how we, as an economy, use natural resources and manage the by-products of those resources.
We have historically been a consumption driven economy and President Bush is precisely correct - the resolution to these challenges will not come from compulsory changes, to which there will always be resistance, but rather from the increased profits that flow from technology and innovation.
I always use coal as an example; we take coal out of the ground, distribute it to a utility who then burns it to boil steam which then turns a turbine that produces electric current that is then channeled to your light switch. A great deal of our electricity today comes from burning coal. More than 70% of the energy value of that coal today is lost at the power plant and another 20% is lost due to various downstream inefficiencies in the way power is distributed to your light switch. Increasing efficiency, even incrementally, at any point in this flow will reduce costs, reduce the need for virgin coal, and reduce pollution.
GreenShift targets these types of inefficiencies where they exist and uses clean technologies and innovative business practices to enhance production efficiencies, improve resource utilization and minimize waste.
Our goal is to facilitate the rapid realization of transformational environmental gains by enabling and then leveraging the collective actions of a great many people and companies.
We plan to do this by relying on as much of today's entrenched industrial infrastructure as possible and focusing on delivering incremental advances that enable increased and sustainable profits while favorably impacting compelling environmental challenges and America's energy independence.
We believe that tremendous environmental gains can be realized simply by making it easier and less costly for people and companies to use clean energy and fuels, to reduce waste and to recycle more.
These incremental shifts forward in both economic and environmental gain - these green shifts - are at the core of what we are about, and they fall within the following clean activities:
-- Clean Energy
-- Clean Fuel
-- Clean Air & Water
-- Clean Production
Underscoring the positive economics of the green shift equation, during 2005, we generated over $1.1 million in net income, we increased our net asset value by over 68% during our first three quarters of operations, and we created the foundation that we needed to grow into our vision. Today, our operating companies generate more than $30 million in annualized revenues and we own over a dozen benchmark clean technologies.
Our focus moving forward is basic - stimulate growth and increase earnings in each of our companies in ways that are consistent with our mission and that address the following key goals:
1. Continue development of our clean energy technologies with a view towards reducing the cost of hydrogen production and delivery, increasing the capacity and reducing the cost of hydrogen storage, and increasing the durability and reducing the cost of fuel cell systems.
2. Support the ongoing organic growth of our renewable energy credit businesses.
3. Innovate and deliver technologies to improve the efficiency of current clean fuel production, with a focus on ethanol and biodiesel production.
4. Finance, build and initiate operations at our own biodiesel production facilities as well as one or more solar power, wind power, and bioenergy production facilities.
5. Bring our existing air emissions control and water purification technologies to market.
6. Finance and support the ongoing acquisitive and sales growth of our environmental management services division with a view towards building this division into a fully integrated national environmental management services company.
7. Grow our specialty manufacturing division by leveraging the ongoing market development of our other clean companies and by making accretive manufacturing acquisitions.
8. Support the ongoing growth of our industrial design and technology transfer group as they focus on using their applied clean technology engineering expertise to deliver production improvements to the ethanol, power generation, livestock and poultry and waste management industries.
Additional information on these initiatives is available on our web site (www.greenshift.com) in our new Q1 2006 investor package.
In closing, I am personally thrilled by the recent groundswell of support for applied clean technologies and I strongly believe that we have the right team, the right companies, and the right technologies at the right time and place in an important industry.
We are grateful for your continued support and involvement and look forward to communicating with you next month after we publish our results of operations for the our 2005 fiscal year.
Best Regards,
Kevin Kreisler Chairman and Chief Executive Officer GreenShift Corporation
About GreenShift Corporation
GreenShift Corporation (OTC Bulletin Board: GSHF) is a publicly traded business development company whose mission is to develop and support clean technologies and companies that facilitate the efficient use of natural resources and catalyze transformational environmental gains.
GreenShift focuses on supporting incremental advances in technologies and business practices that enable increased and sustainable profits on relatively small infrastructure investments while contributing to the resolution of compelling environmental challenges.
These incremental shifts forward in both economic and environmental gain are at the core of GreenShift's investment philosophy, and they fall within the following clean activities:
-- Clean Energy
-- Clean Fuel
-- Clean Air & Water
-- Clean Production
Additional information regarding GreenShift is available online at www.greenshift.com.
Safe Harbor Statement
his 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
Investor Relations: GreenShift Corporation 888-895-3585 - Extension 291 Fax: 646-792-2636 investorrelations*greenshift.com www.greenshift.com or CEOcast, Inc. for GreenShift Ed Lewis, 212-732-4300 or General Hydrogen Corporation Nigel Horsley, 604-233-7676
Copyright Business Wire 2006
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