Green Star Consortium to Offer Game Changing Biotechnology on Wall Street
March 10 2010 - 9:30AM
Marketwired
Green Star Products, Inc. (PINKSHEETS: GSPI) and its Consortium
today announced that it will be auctioning the United States
licensing rights to a game changing proprietary algae growth
biotechnology on September 9, 2010. Presently, the algae industry
is being kept from commercialization because of its inability to
produce enough biomass. The technology to overcome this handicap is
now available and will be licensed at an auction later this year.
The auction will be held at 55 Broad Street, New York City (Wall
Street District). The auction will be coordinated and audited by a
major financial organization (to be announced). The bidding will
start at $5 million and only 50 seats will be made available to
pre-qualified bidders. The successful bidder will have access to
algae growth technology which has been confirmed to increase algae
growth by up to and exceeding 200% in six day growth cycles when
compared to present industrial growth methods.
Mr. Joseph LaStella, President of Green Star Products (a
Consortium member), stated, "This technology is not expensive and
can accelerate algae commercialization in a significantly short
time frame. The successful bidder will possess a significant
advantage in an energy industry that now has captured the attention
of Wall Street and the world."
Six weeks before the auction, all qualified bidders will receive
a technology package, outlining an up-to-date technology report on
a white paper for final review and will include Q&A documents.
On auction day, one hour before the start of the auction, a
question and answer period will be held concerning non-proprietary
questions of the technology and specific auction rules. The doors
will close one hour before the auction begins. Upon completion of
the auction, the three top bidders will continue to negotiate the
specific terms of the license to include ongoing royalties and
continued research funding.
The effectiveness of the algae formula has been confirmed by a
prestigious nationally recognized research institute (see algae
growth comparison pictures at http://www.GreenStarUSA.com) which
confirmed earlier testing completed at the University of Baja
California (UABC) (see UABC algae growth comparison pictures at
http://www.GreenStarUSA.com). Testing has also proven the formula
works for saltwater and freshwater algae species and will not be
dependent on the specific production systems (i.e., open ponds or
closed bioreactors) and therefore can be applied to the entire
industry. To maintain security of intellectual property rights the
name of the nationally recognized research institute will only be
revealed to qualified bidders. However, their results are displayed
at http://www.GreenStarUSA.com
Additional auctions will be held in other countries later this
year, starting in France for the European Union rights and India
next.
The Consortium members holding the auction are Green Star
Products, Inc. (10%), United Biorefineries Corp. (15%), Biotech
Research, Inc. (17.5%), and various other investors including Korea
and China participation.
Mr. LaStella also stated that the Korea and China licensing
rights have already been negotiated without an auction and are
therefore not available. Furthermore, Mr. LaStella stated that both
countries (Korea and China) have diligently pursued our technology
while U.S. interests have pursued other agendas.
Mr. LaStella further stated, "Many Wall Street Journal articles
have recently covered the explosive interest in algae farming as a
permanent solution to the U.S. needs for liquid fuels (i.e.,
diesel, ethanol, etc.) and at the same time have a positive effect
on Climate Change. Sustainable algae production seemed like a
fantasy only a few years ago. However, now Exxon has decided to
invest up to $600 million in the concept. Also, many major
companies and the government are investing heavily into the algae
industry such as major airlines, DOW Chemical, U.S. Military, NASA
and the DOE."
Algae fuel cannot compete with fossil fuels until commercial
algae growth facilities can increase production by at least 100%,
without significantly increase costs.
This game changing technology will now be available for
licensing all over the world and will be auctioned for different
regions starting on September 9, 2010, for the U.S. rights. The
U.S. licensing rights will exclude Idaho and Missouri where the
Consortium has existing equity partners.
We believe that eventually the whole world should share this
breakthrough in algae technology for the benefit of reducing crude
oil consumption and have a major positive shift in our carbon
footprint to help reduce Climate Change.
Bidders can register by filling an on-line form at
http://www.GreenStarUSA.com for pre-qualification and to receive a
technology package. The auction will take place at 55 Broad Street
in New York City at the Digital Sandbox Center on September 9,
2010. The doors open at 10 AM and the auction starts at 12 PM for
qualified bidders.
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
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