Advanced BioEnergy licenses GreenShift's patented corn oil extraction technology at its 110-million-gallon/year ethanol plant in Fairmont, Nebraska
August 15, 2011
– GreenShift Corporation (otcqb:GERS) announced today its execution of a license agreement with Advanced BioEnergy LLC and the successful commissioning of GreenShift's patented corn oil extraction technology at Advanced BioEnergy's 110 million gallon per year ethanol plant in Fairmont, Nebraska.
Under the terms of the agreement, GreenShift has designed and assisted Advanced BioEnergy with the construction of a system based on GreenShift's patented corn oil extraction process. The system includes use of two Alfa Laval Disc Stack Centrifuges for maximum performance. In addition, GreenShift will provide Advanced BioEnergy with ongoing technical support to maximize the performance and benefits of the new corn oil extraction system. Advanced BioEnergy will also have access to GreenShift's portfolio of proprietary technologies to support Advanced BioEnergy's efforts to further enhance by-product revenues beyond corn oil extraction.
Richard Peterson, CEO of Advanced BioEnergy LLC, said that "We did extensive research to determine the best system to install at our plants. After visiting and speaking to other plant operators it was clear that the GreenShift design is the highest yielding system with minimal down time. Today, we are pleased to announce that the extraction system was installed and successfully commissioned in August and we are consistently extracting our desired yield without use of chemical additives. The turn-key system designed by GreenShift has a payback of substantially less than one year. We look forward to the additional income this system will generate for our business, and evaluating GreenShift's additional technologies to take advantage of additional opportunities to enhance our bottom line."
"Ethanol plants need to think differently about by-product management today," said David Winsness, GreenShift's Chief Technology Officer. "GreenShift's technologies allow licensed producers to get the most out their by-products. A key focal point of our offering is extracting and shifting products into markets where they inherently have higher values, such as, in the case of corn oil, the biodiesel and specialty chemical markets. We are very pleased to be working with Advanced BioEnergy and its progressive, high caliber team."
GreenShift's technical services staff are available at 888-ETHANOIL or email@example.com to respond to quotation requests and to answer any questions about GreenShift's patented corn oil extraction and other technologies.
About GreenShift Corporation
GreenShift Corporation (otcqb:GERS) develops and commercializes clean technologies that facilitate the more efficient use of natural resources. GreenShift is focused on doing so today in the U.S. ethanol industry, where GreenShift innovates and offers technologies that improve the profitability of licensed ethanol producers. Additional information on GreenShift and its technologies is available online at www.greenshift.com .