Green Star Products to Construct Total Bio-Refineries
May 15 2006 - 9:30AM
Business Wire
Green Star Products, Inc. (OTC:GSPI) (Website: GreenStarUSA.com)
announced today its plans to construct total Bio-Refinery Complexes
for production of both biodiesel and biomass ethanol at each
facility. The first Bio-Refinery is planned to be in North Carolina
(see GSPI press release dated April 20, 2006) and the location of
the second facility is to be announced soon in the northwestern
sector of the United States. Each GSPI-designed Bio-Refinery will
have a start-up production of between 10 or 20 million gallons per
year with quick expansion capabilities. The facility infrastructure
will be capable of expanding to 60 million gallons per year (and
further expansion capabilities could reach 100-million gallons per
year), ranking them among the largest fuel production facilities in
the world. The GSPI Bio-Refinery facilities, which incorporate
joint production operations of both biodiesel and biomass ethanol,
will be the first of their kind in North America and possibly the
world. The GSPI sustainable business model has long incorporated
farming promotion, green engineering, biomass waste management and
ethanol production concepts in all of its biodiesel projects. The
Bio-Refinery Complex would fully integrate both a biodiesel
processing plant and biomass ethanol processing plant to optimize
engineering strategy and cost reduction through planned synergic
processing. GSPI Combined Bio-Refinery key advantages follow: 1)
Ethanol plants operate at high temperatures above 1,200 F, while
biodiesel plants require low temperatures below 240 F. Therefore,
the waste heat from the ethanol plant is enough to run the
biodiesel plant at almost no heat processing cost. 2) GSPI
Biodiesel and Ethanol plants can utilize the same laboratories, QC
facilities, maintenance equipment and personnel. They can also
share dispatch operations and management personnel. 3) One of the
greatest advantages for the Bio-Refinery is the fact that
domestically produced vegetable oil (soy oil, canola oil, etc.)
will be used to make biodiesel and the waste products from the
plants (stalks, etc.) can produce low cost ethanol. Ethanol
produced from waste products could be produced for around one
dollar per gallon. 4) Also, since the biodiesel production process
requires approximately 10% methanol and since much of the methanol
in the U.S. is presently supplied from outside of the U.S. borders,
there could be a time when supplies could be cut short. The
Bio-Refinery would simply switch over and use part of its own
supply of ethanol, which works just as well as methanol. This would
insure that the Bio-Refinery is always in operation backed by the
output of the U.S. farmer. "The American farmers will be the
backbone of the sustainable fuel industry. Therefore, they are
major role players in weaning the U.S. off of imported oil," said
Joseph LaStella, President of GSPI. Mr. LaStella further stated,
"The U.S. uses 25% of the total world output of crude oil each day
but only has 2% of the known world oil reserves within its borders,
making the U.S. almost completely dependent on imported petroleum.
We can only break this vicious cycle by reducing consumption,
supporting energy efficiency and promoting the use of true
alternatives to petroleum like biodiesel and ethanol." The above
facts clearly demonstrate how critical it is for us to support
American farming in producing biodiesel and ethanol feedstock
source crops. Just now, the U.S. Congress is seeing the need to
increase federal support for the farm and industry to produce much
more domestic alternative fuels. On May 11, 2006, the House
Democrats unveiled a comprehensive biodiesel energy package to
energize policy makers to fund the nation's energy independence
with alternative fuels. House Representative Leader Nancy Pelosi
stated, "The energy challenges facing our nation are real, but
Americans are ready to meet the challenge. The answer is right here
at home. From corn in the Midwest, to soybeans in North Carolina,
to sugar beets in Minnesota, we grow the crops that can be
converted into the biofuels that power our cars. It is good for the
environment, good for our economy, and it is good for our farmers."
The House Democrats report includes the following proposed
programs: 1) Increase production of American-made biofuels to
double the percentage of renewable fuels now sold in America in six
years; and to make sure that biodiesel and cellulosic sources, such
as switch grass, are a key part of that increase. 2) Expand the
market for and distribution of biofuels. 3) Encourage local
domestic ownership by providing federal incentives to smaller
ethanol and biofuel plants, so that independent, locally-owned
facilities that produce biofuels can grow and thrive, improving our
rural communities. Mr. LaStella also stated, "The growth of
alternative fuels are not only expanding in the U.S. but also
around the world. GSPI has been approached by many organizations in
foreign countries to utilize its Bio-Refinery engineering expertise
to build plants abroad." 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' Website at GreenStarUSA.com,
or email info@GreenStarUSA.com, or call Investor Relations at
619-864-4010, or fax 619-789-4743. Information about trading prices
and volume can be obtained at several Internet sites, including
Bloomberg.com and 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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