Green Star Signs Contract to Fabricate Biodiesel Plant for Processing Algae Oil
23 Septembre 2010 - 4:04PM
Marketwired
Today, Green Star Products, Inc., (PINKSHEETS: GSPI) announced it
has signed a contract to build a biodiesel facility. This is the
first of several contracts in conjunction with an ambitious
Algae-to-Biodiesel project on the west coast. Please see press
release dated August 19, 2010, for further information
(http://www.greenstarusa.com/news/10-08-19.html).
Green Star has already started fabrication of the 13 modules
required for the processing of algae oil and other low cost
available oils to produce biodiesel. The contract states that Green
Star will build these modules at cost and will earn Green Star a
future equity position and cash flows from the facility.
This strategy has been a long term concept for Green Star which
insures that the Company is not selling its proprietary technology
but only builds facilities in which it shares in the ownership and
cash flows. This also helps guarantee the security of its
intellectual property.
The algae to biodiesel plant will be rated initially at two
million gallons per year with all necessary provisions incorporated
so that the plant can easily be expanded to larger capacities in
the future. The algae bioreactor system associated with this
biodiesel plant is still under negotiation. Green Star will also
participate in the engineering, fabrication and construction of the
algae facility.
Since this algae-to-biodiesel facility will be one of the
largest of its kind ever built, it will not only be designed as a
commercial facility but also serve as a giant research facility.
Many other organizations will be involved, including universities
and international research companies.
Mr. Joseph LaStella, President of Green Star, stated: "There are
many technologies that will be incorporated into the facility
including the MMB formula for algae growth, which has been verified
by industry professionals in the past two years to increase algae
growth 200% and more over a six day growth cycle. This algae growth
booster formula has been successful in many types of algae strains
including saltwater and freshwater species." See report and
photographs at http://www.greenstarusa.com/summary.pdf.
Mr. LaStella added: "All participants are very enthusiastic with
the start of this program and we are endeavoring to obtain the
necessary permits for this exciting venture."
About Green Star Products Green Star
Products, Inc. (PINKSHEETS: GSPI) is an environmentally friendly
public company dedicated to creating innovative, cost-effective
products to improve the quality of life and clean up the
environment. GSPI and its Consortium are involved in the production
of green sustainable goods including renewable resources like algae
biodiesel and clean-burning biofuels, cellulosic ethanol and other
green products, as well as lubricants, additives and devices that
reduce emissions and improve fuel economy in vehicles, machinery
and power plants. For more information visit
http://www.GreenStarUSA.com, or call 1-800-741-7648 and
1-800-340-9784, fax 619-789-4743, or email
info@GreenStarUSA.com.
Forward-looking statements in the release are made pursuant to
the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. Investors are cautioned that such
forward-looking statements involve risks and uncertainties,
including without limitation, continued acceptance of the company's
products, increased levels of competition, new products and
technological changes, dependence on third-party suppliers, and
other risks detailed from time to time in the company's periodic
filings.
CONTACT: Joseph LaStella President Green Star Products, Inc.
800-741-7648 800-340-9784 619-864-4010 619-789-4743 (fax)
info@GreenStarUSA.com
Green Star Products (PK) (USOTC:GSPI)
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