« Previous | Next » | All Messages |  GSHF Message Board Home | recommend post |  Ignore Poster

GSHF News GS AgriFuels Completes Investment in Biorefinery Operator

NEW YORK--(BUSINESS WIRE)--GS AgriFuels Corporation (OTC Bulletin Board: GSGF) is pleased to announce that it recently acquired a 14.3% stake in Missoula, MT-based Sustainable Systems, Inc., (“Sustainable”) an agricultural company focused on high-value culinary oil, biobased fuels, and bioproducts. Sustainable has initiated an expansion of its oilseed crush facility in Culbertson, MT (the “Montola” facility). The Montola facility is expected to double its current oilseed processing capacity to 600 tons per day after the expansion.

In addition to completing its investment in Sustainable, GS AgriFuels received a purchase order from Sustainable for a ten million gallon per year biodiesel system through its wholly-owned subsidiary, NextGen Fuel Inc. Fabrication of the NextGen biodiesel system is expected to begin later this year for co-location at Sustainable’s Culbertson, Montana oilseed crush plant. The system, which is being manufactured by Warnecke Design in Van Wert, Ohio, is expected to operate using various vegetable oilseed crops that grow in the region of the existing crush plant.

GS AgriFuels President, Tom Scozzafava, stated, “We are pleased to have made this investment in what we see as a very logical business model based on both food and fuel grade vegetable oils. We look forward to working closely with Sustainable’s management as we build our respective businesses.” Paul Miller, Sustainable President and CEO added, “GS AgriFuels offered us a strategic partner with significant technical depth who understood our business model and growth potential. Over recent months we have had an opportunity to work with the AgriFuels team and have benefited from their knowledge of clean technology as it relates to biomass. The GS AgriFuels Team complimented our expertise in working within rural America on the feedstock supply chain. We are excited about their proprietary NextGen technology as well as other biomass conversion technologies in their portfolio and how they may interrelate with our domestic and international biorefinery developments.”

As part of the transaction, Mr. Scozzafava will be placed on Sustainable’s board of directors. The biodiesel system being purchased by Sustainable Systems, Inc. represents NextGen’s fifth customer order for equipment in the past 90 days - in total representing 40 million gallons of annual production capacity.

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, catalytic, and carbon capture 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 AgriFuels is majority owned by GreenShift Corporation (OTC Bulletin Board: GSHF), a company devoted to facilitating the efficient use of natural resources.

About Sustainable Systems, Inc

Sustainable Systems, Inc. (www.sustainableinc.com) is an agricultural processor that currently produces high-value culinary oils and is positioned to capitalize on the emerging biodiesel industry. The Company is executing on a significant opportunity within the expanding biodiesel fuel markets and its expanding food grade oil markets. Sustainable’s business is to develop and operate oilseed crush facilities and bio-refineries that convert agricultural raw materials (predominantly oilseeds) into specialty food grade products and biodiesel fuel. The Company is expanding capacity at its existing Montana oilseed extraction and refining plant from 300 tons per day to 600 tons per day. In addition, Sustainable is commencing the projects of two additional oilseed extraction and biodiesel refineries at strategic locations within the United States.

About NextGen Fuel, Inc.

NextGen's biodiesel process technology leverages innovative process intensification techniques to accelerate and enhance traditional biodiesel reaction kinetics, thus decreasing process time, reducing energy and raw material needs, and increasing product quality. These benefits reduce capital and operating costs by as much as 50% over traditional approaches, and NextGen’s systems can be deployed to a plant in as quickly as 12-18 weeks. NextGen currently offers turn-key biodiesel production plants rated for 5 million gallons per year and 10 million gallons per year, but the modular and continuous-flow aspects of the technology make scaling plants up or down easy and cost-effective.

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 AgriFuels 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.