Green Star Products Expands into Biodiesel Plant Construction
March 31 2006 - 9:30AM
Business Wire
Green Star Products, Inc. (OTC:GSPI) announced today that it has
decided to utilize its Biodiesel Engineering and Construction
Experience to construct Joint Venture Facilities in the U.S. and
other countries. GSPI presently holds a 35% equity member ownership
in American Biofuels LLC (ABF) and assisted ABF in engineering and
operations of ABF'S Biodiesel production facility in Bakersfield,
California for the past 3 years. GSPI has supported ABF biodiesel
development with engineering, construction and financial support to
build one of the largest biodiesel plants on the West Coast. A
recent fire (see GSPI press release dated February 21, 2006) at the
ABF Bakersfield Plant site has shut down production and will
require some time for cleanup of the site before reconstruction can
begin. GSPI has exercised its option to secure its own biodiesel
license. GSPI will use its engineering expertise to build
continuous flow, waterless biodiesel plants under Joint Venture
arrangements to include consulting fees, licensing fees for
technology and continued royalty payments. GSPI Biodiesel Plants
include the following Competitive Advantages: -- 1. All plant
design is modularized so additional capacity can be added at
minimal cost. -- 2. Speed of construction - plant can be placed in
service in 14-16 weeks versus industry standard average of 14 to 18
months. -- 3. Small footprint of plant because of its "continuous
flow waterless design" versus industry batch plant design, results
in lower production and maintenance costs. -- 4. Minimum plant
management and operations staff required because plant is
automated. -- 5. Proven technology - Industrial size plan operated
and produced biodiesel for over three years in Bakersfield,
California. -- 6. Minimal permits required from regulatory
agencies. Plant requires no wastewater permit, which could take up
to one year to obtain and minimum air quality permits. -- 7. The
plant design is very energy efficient and reduces energy
requirements by over 30% of industry average. -- 8. Lower capital
costs by at least 50% compared to Biodiesel Industry Standards. --
9. Faster achievement of positive cash flow is due to a much
shorter time frame to complete construction and permitting. These
Competitive Advantages have been solidly demonstrated over a
three-year production period at the ABF Bakersfield Biodiesel
Facility. GSPI has already entered into final negotiations to
construct two Biodiesel Plants. GSPI'S Lubricant Division, which
operates its business activities separately from GSPI'S Biodiesel
Division, is also continuing to expand its Retail Product Line in
the U.S. and abroad (see GSPI press releases dated January 31 and
March 7, 2006). Green Star Products, Inc. is an environmentally
friendly company dedicated to creating innovative cost-effective
products to improve the quality of life and clean up the
environment. Green Star Products is involved in the production of
renewable clean-burning biodiesel and other products, including
lubricants, additives and devices that reduce emissions and improve
fuel economy in vehicles, machinery and power plants. For more
information, see Green Star Products' Web site at
http://www.GreenStarUSA.com, or call Investor Relations at
619-864-4010, or fax 619-789-4743, or email info@GreenStarUSA.com.
Information about trading prices and volume can be obtained at
several Internet sites, including http://www.bloomberg.com and
http://www.bigcharts.com under the ticker symbol "GSPI."
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 for the company, new
products and technological changes, the company's dependence on
third-party suppliers, and other risks detailed from time to time
in the company's periodic filings with the Securities and Exchange
Commission.
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