CORRECTING and REPLACING GSPI Has Acquired a License for Next Generation Algae to Biofuels Process
January 31 2008 - 11:16AM
Business Wire
In 11th graph, second sentence of release, please note corrected
stock exchange. The corrected release reads: GSPI HAS ACQUIRED A
LICENSE FOR NEXT GENERATION ALGAE TO BIOFUELS PROCESS Efficient
Production of Both Biodiesel And Ethanol Can Now Be Achieved
Through Algae Today, Green Star Products, Inc. (OTC:GSPI),
announced that it has acquired a license to utilize a breakthrough
processing technology to convert algae biomass to feedstock oil and
cellulose sugars for the production of biodiesel and cellulosic
ethanol respectively. The new process uses an efficient low-cost
method to extract the oil and cellulose sugars from oil-bearing
microalgae that eliminates the need to mechanically dry and
press-extract the algae oil using traditional methods. The sugars
from carbohydrate-rich cellulose and hemicellulose can be used to
make a variety of products including ethanol and other high demand
chemical products. The oil can be made into biodiesel and other
products. The removal of oil from the microscopic algae has been a
stumbling block for the commercial production of fuel from algae
for many years. GSPI has secured the technology license from
Biotech Research, Inc. (BTR), one of GSPI�s consortium partners.
The process continuously strips the oil from the algae and also
reduces its biomass into different carbon chain carbohydrates,
proteins and other constituents. BTR�s intellectual property is
protected by patent pending status. Joseph LaStella, president of
Green Star, stated, "GSPI along with a handful of other high tech
companies are leading the industry in algae commercialization;
however, there are two major hurdles to overcome: First, an
efficient, affordable construction and processing method to control
the environment to promote optimum algae growth; Second, efficient
harvesting and extraction of oil from the microscopic algae
biomass". Green Star, along with Biotech Research, has been
operating one of the largest demonstration algae facilities since
April 2007. Phase I and II testing were successfully completed in
2007. The results of Phase III have been completed and announced
today (January 31, 2008) under a separate Green Star press release
titled �GSPI Completes Algae to Biodiesel Winter Demo Testing�. The
Montana facility has clearly demonstrated a solution to the first
problem, i.e. an affordable method to grow algae, and now GSPI has
potentially solved the second hurdle � the low-cost extraction and
conversion of microalgae biomass to oil and other useful products.
Biotech Research, Inc. operates a high tech research facility at
the University of Baja California in Ensenada, Mexico (see
four-minute video at GreenStarUSA.com), where a team of scientists
and engineers are studying short, medium and long-term technologies
for the advancement of algae production. Mr. LaStella further
stated, �To limit algae research to the production of fuels is a
grossly short-sighted view point. Algae have the answer to many of
the global problems facing us today. Our old microalgae friends
have been around for three billion years and were responsible for
creating the oxygen atmosphere we now breathe. Algae grow as much
as 100 times faster than agricultural crops, so algae could
potentially solve all of our food and environmental problems�.
Algae can reverse our Global Warming problems; provide unlimited
biodiesel and cellulosic ethanol; provide high protein food for the
World's increasing population; be used as feedstock for an
unlimited number of industry products and chemicals; and, the list
goes on. Biotech Research, Inc. is researching a host of algae
uses. Some of these �uses� can be a bit surprising. For instance,
Solazyme, Inc., recently announced an algae joint venture with
Chevron (NYSE:CVX) and a breakthrough using an algae strain that
can reproduce itself without sunlight. Biotech Research is also
involved in "algae that grows in the dark"; however, it is not
BTR�s top priority research project for the following reasons: 1) �
Algae that grow without sunlight do not use the photosynthesis
process; therefore, dark-growing algae need expensive food sources
like sugars, vitamins, etc. to survive and reproduce. This means
that they are not obtaining energy from sunlight and they are
actually not consuming CO2 but producing CO2 like any other animal
or burning process. CO2 mitigation is not possible with these algae
strains. The need to increase photosynthetic processes for CO2
sequestration is a major reason why there is interest in algae farm
development (see press release titled "Green Star States: U.S.
Industry Gets Serious About Cutting CO2 Emissions" from December
20, 2007). � 2) Since "grow in the dark" algae do not use the
(free) energy from the sun they must get their energy from
something else, mainly sugars that are poured directly into the
growing algae medium. Where is all this sugar going to come from?
Back to agricultural crops? Biotech Research has the real answer:
Making oil and sugars from photosynthesis grown microalgae biomass
and non-food biomass that can be derived from a variety of
agricultural and municipal waste streams (wood chips, corn cobs,
switch-grass, etc.). Mr. LaStella further stated, �It should be
understood that the success of this new process is not required for
the first generation of algae production. First generation algae
production can produce 4,000 gallons of oil per acre per year
(versus 50 to 100 gallons for other oil crops) and later
generations will produce 10,000 gallons or more per acre.� Green
Star Products and Biotech Research are also researching
independently, and in coordination with other technology companies,
additional high tech processing systems to convert biomass algae
into usable fuels and products. These products and systems include:
1) � Direct pyrolysis 2) Advanced mechanical extraction 3)
Separation of sugar from biomass carbohydrate chains 4) Hybrid
fuels 5) Low temperature fuels 6) Enzyme extraction 7) Algae strain
development 8) Highly efficient LED artificial light production 9)
Natural algae growing enhancers � And many other proprietary
technologies. Today, algae and non-food biomass technologies are
the most likely tools to change our world on a grand scale. Mr.
LaStella further commented that, "The U.S. Congress recently (Dec.
19, 2007) passed a huge energy bill into law, which contains
billions of dollars to support the production of ethanol from
non-food sources (cellulosic ethanol). GSPI�s new licensed process
combines feedstock algae production into biodiesel and cellulosic
ethanol, which qualifies our new process for financial support
under the new energy bill." Please also read GSPI�s other press
release issued today (January 31, 2008) titled �GSPI Completes
Algae to Biodiesel Winter Demo Testing�. Green Star Products, Inc.
(OTC:GSPI)(OTC:GSPI.PK) 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 green
sustainable goods including renewable resources like algae
biodiesel and clean-burning biofuels, cellulosic ethanol and other
products, as well as 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.pinksheets.com,
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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