De Beers Fuel Limited Increases Orders for Green Star Biodiesel Reactors
March 07 2007 - 11:16AM
Business Wire
Green Star Products, Inc. (OTC:GSPI) today announced that De Beers
Fuel Limited (DBFL) of South Africa increased their orders for
Green Star Reactors (see press release dated Nov. 13, 2006) to
include GSPI Process Control Modules (PCM). The value of the
contract orders totals $10.8-million. The delivery schedule of the
Reactor and PCM�s will be over the next 18-months. GSPI and DBFL
signed a contract in November 2006 to build 90-Reactors for South
African franchisees. The first Reactor was built and air freighted
to South Africa in November 2006. De Beers engineered the GSPI
Reactor into their existing biodiesel plant in December 2006. After
installation, DBFL began a series of process test runs in early
2007. Mr. Frik de Beer, President of DBFL, who visited the U.S.
last week stated, �The GSPI Reactor has operated wonderfully and
exceeds its design production capacity of 10-million gallons per
year.� During his visit, Mr. de Beer and guest toured the GSPI
Showcase Facility (see press release dated Feb. 5, 2007) located in
Chula Vista, California, which also included GSPI�s Process Control
Module (PCM) (see pictures on GSPI�s Website:
www.GreenStarUSA.com). Based on Mr. de Beer's tour and explanation
of the qualities of the �Combo� Reactor/PCM by President Joseph P.
LaStella, P.E., he expanded the existing reactor order to include
90-PCM Combo Units, which increases the value of the contract to
$10.8-million. In addition, each Combo Unit will generate a monthly
royalty to GSPI for the life of the Unit, estimated at 10-years.
GSPI does not directly sell any of its proprietary technology,
biodiesel processing plants or equipment technology. This is to
ensure the security of its trade secrets and intellectual
properties. DBFL�s franchise business strategy further ensures the
protection of GSPI�s intellectual property. In order to save
shipping costs to South Africa, GSPI designed their Reactors and
PCM Units to be stacked one upon the other so that four complete
Reactor-PCM Units can be shipped in one 40-foot container. The next
four Reactor-PCM Combo Units are presently being fabricated at
GSPI�s Glenns Ferry facility in Idaho. Green Star Products, Inc.
(OTC:GSPI) 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 and its
Consortium are 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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