Saline County Missouri Approves $141 Million Revenue Bonds for Alternative Energy
July 31 2008 - 9:30AM
Business Wire
Green Star Products, Inc. (OTC:GSPI) today announced that EcoAlgae
USA, LLC, has received a signed resolution from Saline County
Missouri commissioners to construct a commercial Algae Production
Facility in conjunction with an Integrated Biorefinery Complex.
EcoAlgae USA will contract with Green Star�s Associated Consortium
of Companies to construct the Algae-to-Biodiesel and Next
Generation Waste-to-Energy Complex. EcoAlgae USA received from the
Saline County commissioners the approval of issuance of $141
million of the county�s industrial development revenue bonds to
finance this project. The project will be organized and constructed
in conjunction with United Biorefineries Corp. (UBC), a technology
management company, as the main Consortium Company with other
integrated licenses. The EcoAlgae USA, LLC, project will involve
algae production as the heart of this Biorefinery Complex because
its high production biomass feedstock only requires sunlight, CO2
and brackish or saltwater. Note these important facts about algae:
1. � Algae produce 100 times more oil per acre than traditional
food oilseed crops such as soy, etc. (Note: Algae produces 4,000
gallons of oil per acre per year versus 50 gallons per acre for
soy.) � 2. Algae eat CO2, the major Global Warming Gas, and produce
oxygen. � 3. Algae require only sunshine and non-drinkable (salt or
brackish) water. � 4. Algae do not compete with food crops for
either agricultural land or fresh water. � 5. Algae can reproduce
themselves and their oil every 6 hours, while it takes Mother
Nature millions of years to produce crude oil in the ground. � 6.
Algae oil byproduct is a highly nutritious protein-rich food
(30-50%), which will someday help feed the world. Green Star
Products has been a major facilitator in all aspects of this UBC
Integrated Biorefinery Manufacturing Complex model for several
years. The Biorefinery will be the first of its kind and will
incorporate all the technologies to produce oil, cattle feed,
electricity, biodiesel, cellulosic ethanol and steam. Besides algae
feedstock, other feedstocks to produce these valuable products come
from non-food sources and are comprised of waste wood products,
organic municipal waste, switchgrass, and other waste agricultural
products such as corncobs. The four main technologies required for
this facility are: 1. � Algae Production, Processing and Refining
by Green Star Products � 2. Cellulosic Ethanol Production by Pure
Energy Corporation � 3. Biogas Production by MKW Biogas � 4. Algae
Research & Engineering by Biotech Research (BTR) and Green Star
Products UBC and the above companies have strategic alliances with
other major corporations and international engineering firms.
United Biorefineries Corp. represents the above Consortium of
Companies through licensing arrangements and is the technology
provider and will be responsible for the construction of the entire
Biorefinery Complex for EcoAlgae USA, LLC. UBC will distribute
profits from this project to its participating Consortium
Companies. EcoAlgae USA and all the participants, who have been
working on this Missouri project for over one year, would like to
congratulate Saline County and its commissioners for having the
insight to provide the opportunity to build the most advanced
Eco-friendly Biorefinery of the future. 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 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 Public Relations at
800-741-7648 and 800-340-9784, 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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