GSPI Green Star Products Inc (PK)

Green Star Products, Inc. (OTC: GSPI) today announced that fabrication work is continuing for its planned two 500-acre algae to biodiesel commercial production facilities. Green Star is one of the only companies in its field that has existing in-house capabilities to fabricate and assemble the equipment required for the biodiesel processing and the algae oil production. Work has continued at its 90,000 sq. ft. fabrication plant in Glenns Ferry, Idaho. Actual ground breaking for these two locations will begin early next year. Green Star expects much of the equipment requirements for these two facilities to be completed before ground breaking. One of these facilities will be located in Missouri (see press release titled �Saline County Missouri Approves $141 Million Revenue Bonds for Alternative Energy� dated July 31, 2008) and the second facility will be located in a northwestern state with details disclosed later this year. Joseph LaStella, President of Green Star Products stated, �Every day, you can hardly pick up a newspaper or a magazine or visit an online news service without reading about the latest 'fantastic news' regarding some new company or an existing company making another new breakthrough in the production of algae. These companies are touting the benefits of algae in solving all the energy and food problems without publishing anything to substantiate their claims.� Mr. LaStella further stated, �Green Star Products, in 2007, operated one of the largest demonstration facilities for nine months, which encompassed a 40,000-liter semi-production facility. The final demo facility report was released in February 2008 and contains 18-pages of its achievements. The facility was successful in reaching all its pre-determined goals.� According to Mr. LaStella, more and more outlandish claims are being made in the algae arena that keep repeating what Green Star has been stating for several years now, and each time it is stated like it was just discovered yesterday. These statements include all of the six main characteristics of algae which Green Star has printed at least three times in its early reports to the public. These factors are so important that they are worth repeating here again: 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. Furthermore, other companies in the industry are finding out one by one that tubular reactors will never be cost effective in producing algae for fuel as Green Star quoted long ago. Green Star believes that its duty is to at least educate new investors on the real state-of-the-art algae developments: According to Mr. LaStella, it is a well know fact in the algae community that most of the existing facilities that operate do not accurately disclose any of their production figures or technology systems to the public. They do not publish this data to their competitors, therefore, industry data cannot be relied upon. Also, none of these facilities produce commercial oil. Many produce high-end products such as beta carotene or Spirulina. According to Mr. LaStella, further, the companies who do publish an exorbitant amount of technological and production data are mostly based on computer projections and not on actual systems. These companies are primarily focused on raising capital or small laboratory size models. These include most of the so called �big algae names� floating around the internet with unsubstantiated information and so called �new methods� which really have failed in the past and have totally unproven figures. According to Mr. LaStella, some producers are concentrating on algae that �grow in the dark� (that grow without sunlight for its energy source). These algae require sugars as their energy source, produce CO2 (like humans) and cannot be used to sequester CO2 and reduce global warming. Using sugar from food crops for fuel raises question again about using food for fuel. CO2 sequestration was one of the main objectives of the NREL 17-year study, which is directly linked to the reduction of Global Warming. Mr. LaStella further stated, �While other companies are totally encased in secrecy, GSPI published a detailed 18-page report outlining the detailed achievements of the project. However, none of the patent pending intellectual property is disclosed in this report. �In summary, to understand the 'algae world' requires real dedication, hands-on experience, reading and deciphering and understanding the thousands of pages of credible books and studies based on more than 50 years of analytical and scientific experience, and after this tedious research is completed the analysis will reveal the successes and failures of the past. We do not want to reinvent the wheel, we only want to push the wheel further to its commercialization. That is where Green Star started their research several years ago and believe that it is ahead of his competitors.� We suggest to investors or interested parties to do their due diligence before investing in any alternative fuel company. We also recommend you to see the 18-page document on the GSPI website (http://www.greenstarusa.com/reports/08-05-09GSPIAlgaeDemoReport.pdf); the recently released analyst report by Beacon Equity (http://beaconequity.com/main/Page-data/Adpages/GSPI); �Chapter 1 - The Real Root of Today's Energy and Financial Crisis� from Mr. LaStella's new unpublished book titled �National Birthright� (http://www.josephlastella.com/natlbirthright_chapter1.pdf); and the 300-page NREL Aquatic Species Program report (www.nrel.gov/docs/legosti/fy98/24190.pdf). 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 1-800-741-7648 and 1-800-340-9784, 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.