posted
This has some potential....pretty positive news, the RSI says oversold and the MACD is crossing into positive territory. I'm long for a while....
-------------------- drysider
My advice is worth exactly what you paid me for it....
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GS CleanTech Executes Agreement with Ethanol Producer
Last update: 6/19/2007 12:55:42 PM
Company's Technologies Enhance Ethanol Production Efficiencies and Convert Ethanol Co-products into Additional Fuel NEW YORK, Jun 19, 2007 (BUSINESS WIRE) -- GS CleanTech Corporation (GSCT) today announced its execution of an agreement to extract about 7 million gallons per year of crude corn oil from the distillers grain co-product from a new 110 million gallon per year dry mill ethanol plant scheduled to commence operations later this year. GS CleanTech's patent-pending Corn Oil Extraction Systems(TM) have been engineered to help ethanol producers increase cash flows through the introduction of a third and novel revenue stream - corn oil. GS CleanTech provides turn-key extraction systems to participating ethanol producers at no cost to the ethanol producers in return for the long-term right to purchase the extracted corn oil at a per pound premium to its value when trapped in the distiller's grains. GS CleanTech's extraction technology also reduces overall plant emissions and utility costs by upwards of $1 million per year for a 100 million gallon per year ethanol plant that dries 100% of its distiller's grains. GS CleanTech's affiliated fuel production company, GS AgriFuels Corporation (GSGF) will finance, build and operate a 10 million gallon per year biodiesel facility proximate to the ethanol producer where it will be integrated with GS CleanTech's extraction system to convert the extracted corn oil into biodiesel fuel. This facility, which is scheduled be brought online next year, is expected to be GS AgriFuels' second co-located biodiesel facility. The first is a planned 5 million gallon per year facility that will be located at an ethanol producer in the Midwestern U.S. that has executed an extraction agreement with GS CleanTech and a term sheet with GS AgriFuels for the deployment of GS AgriFuels' co-located biodiesel facility. Both facilities will share utilities with and be managed by their host ethanol producers in return for a management fee. GS AgriFuels is also in the final stages of contract negotiations to co-locate a third planned facility at an existing 50 million gallon per year ethanol facility in the Midwestern U.S., and is working through a pipeline of several similar agreements. GS AgriFuels expects to have more than 20 million gallons of co-located biodiesel production assets contracted in 2007. GS CleanTech's publicly announced corn oil contracts will produce about 30 million gallons per year of crude corn oil for conversion into biodiesel fuel as GS CleanTech successfully deploys the relevant corn oil extraction systems during 2007 and 2008. David Winsness, GS CleanTech's president and chief executive officer said that "Corn-derived ethanol producers clearly recognize the need to improve their energy balance. The surest and quickest way to do this is to implement "plug and play" technologies that enhance the yields and operating efficiencies of traditional production processes. Our corn oil extraction technology is the first of several technologies that we are bringing to market to meet those objectives, including integral biodiesel production, biomass gasification and carbon dioxide capture and conversion technologies." Tom Scozzafava, GS AgriFuels' president and chief executive officer added "GS AgriFuels' model is to provide 100% of the capital to build both (i) the corn oil extraction and (ii) biodiesel fuel and energy production assets co-located at the ethanol plant. We are seeing a growing acceptance by management teams of these non-intrusive, value-added technologies that bring added cash flows to the ethanol plants without any of the financial risks typically associated with such programs." GS CleanTech and GS AgriFuels are affiliated companies that have partnered in the full scale commercialization of their technologies. GS CleanTech provides technology-centric services in return for process engineering and plant construction sales, ongoing technology royalties and selected feedstock sales. GS AgriFuels provides all of the capital for the construction of the extraction and production facilities and generates revenues through its ownership of the fuel production assets. A single 10 million gallon per year corn oil extraction and biodiesel production facility can be expected to result in $24 million in one-time sales and about $1 million per year in royalties for GS CleanTech and, at current market rates, about $28.5 million in annualized biodiesel sales for GS AgriFuels. Focus on Ethanol Production GS CleanTech is focused on delivering technologies and process innovations to the ethanol production industry with a view towards maximizing the yield of corn-based ethanol production. GS CleanTech's currently available offerings in its ethanol program include its: -- Corn oil extraction systems; -- Small-scale modular biodiesel production systems; and, -- Biomass gasification for combined heat and power solutions. GS CleanTech is also developing new technologies, such as its carbon dioxide algal bioreactor technology, for application at ethanol facilities. 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, which contain about 2 pounds of fat. This corresponds to about 2.8 gallons of fuel production per bushel of corn. GS CleanTech's ambition is to increase this efficiency as much as possible by converting as co-products such as DDG and carbon dioxide into additional renewable fuels. Pictures of a recent GS CleanTech corn oil extraction system installation can be found at in the Multimedia & Downloads section of the Products & Services section for GS CleanTech's Corn Oil Extraction Systems (). About GS CleanTech Corporation GS CleanTech Corporation (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. Additional information on GS CleanTech's Corn Oil Extraction System and GS CleanTech's ethanol efficiency program is available online at . 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, and catalytic 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 CleanTech and GS AgriFuels are both majority owned by GreenShift Corporation (GSHF), a company devoted to facilitating the efficient use of natural resources. 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 CleanTech 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 CleanTech Corporation
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