Announced earlier today by GreenShift Corporation was the news that its implementation of an agreement with Global Ethanol, LLC (“Global”), pursuant to which GreenShift granted Global the right to use GreenShift’s patented corn oil extraction technologies at Global’s 100 million gallon ethanol plant in Lakota, Iowa. This agreement allows Global to directly finance, build, own and operate a facility based on GreenShift’s patented corn oil extraction technologies designed to extract more than 2.2 million gallons per year of corn oil in return for an ongoing royalty payment to GreenShift equal to more than about 20 percent of the market price of the extracted corn oil at the time of shipment.
Kevin Kreisler, GreenShift’s chief executive officer, added: “We are pleased to have the opportunity to earn Global Ethanol’s business and partnership and we look forward to helping Global Ethanol meet its goal of becoming a leading low cost producer of renewable fuel with our patented and patent-pending technologies.”
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About GreenShift Corporation
GreenShift Corporation develops and commercializes clean technologies designed to address the financial and environmental needs of GreenShift’s clients by decreasing raw material needs, facilitating co-product reuse, and reducing the generation of wastes and emissions.
At full participation by the ethanol industry, GreenShift’s commercially-available technologies can give way to disruptive gains by sustainably producing globally-meaningful quantities of new carbon-neutral liquid fuels for distribution through existing supply chains. GreenShift is focused today on supporting integration of its patented and patent-pending corn oil extraction technologies into as much of the ethanol fleet as possible. GreenShift also maintains its strong commitment to continued innovation and has many additional patents pending for its Backend Fractionation portfolio of strategically-compatible cleantech designed to continue driving the corn ethanol industry into increased sustainability and global competitiveness.
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