Green Star Announces Biorefinery and Electric Car Plans at Stockholders Meeting
March 11 2009 - 9:30AM
Business Wire
Green Star Products, Inc. (OTC:GSPI) held its Special
Stockholders Meeting on January 31, 2009 (see press release dated
January 9, 2009). The meeting had the largest attendance in many
years and special presentations were given by GSPI Consortium
member companies. Details of the Stockholders Meeting are covered
on Green Star's website GreenStarUSA.com.
The presentations outlined detail plans of the biorefinery
projects and their plant construction. These plans include the
production of cellulosic ethanol, chemical by-products from
cellulosic ethanol plants, algae biomass production, algae
biodiesel production and the many advantages of combining all of
these technologies into one biorefinery complex.
The existing board members were re-elected and many discussions
took place concerning the issues contained in the GSPI Letter to
Shareholders dated December 29, 2008. Mr. Joseph LaStella, GSPI's
President, spent a significant amount of time reviewing the history
of Green Star, which changed its name from BAT International to
Green Star Products, Inc., in 2002.
Mr. Brooks Agnew, Ph.D., Vice-President of Green Star, presented
algae biomass production technology and the advancements that Green
Star has made in the algae production business which gives the
Company at least a two year edge in algae research and commercial
production.
Mr. Irshad Ahmed, Ph.D., President of Pure Energy Corporation a
Biorefinery Consortium partner, gave a detailed analysis of the
integration of technologies in the biorefinery complex and its many
advantages including significant cost reductions. Under a
technology license agreement, Pure Energy is providing to the
Consortium a cellulosic ethanol/chemicals biorefinery manufacturing
platform. The biorefinery complex is designed to utilize municipal
waste, agricultural waste and non-food products, including algae,
to produce a variety of energy and chemical products. These
products include cellulosic ethanol, algae biodiesel, biodiesel
from other non-food products, electricity, fertilizers and
chemicals.
President Obama recently stated that he intends to double
alternative energy for the United States within three years. There
are also existing federal programs clearly identifying funds in the
billions for biorefinery-type projects.
The GSPI Consortium partners dedicated a significant amount of
time over the past 10 months to prepare several biorefinery
proposals for submittal to the existing and anticipated
multi-billion dollar federal alternative energy programs.
Mr. LaStella stated, �The Company has received many inquiries
and suggestions for Green Star to re-enter the emerging electric
car market.� This situation occurred in direct reaction to the
release of Chapter 6 and 7 of Mr. LaStella's book entitled
'National Birthright', which clearly reflects the early years of
Green Star and its success in manufacturing electric vehicles off
its assembly lines. Chapters 6 and 7 can be reviewed at Mr.
LaStella's website at JosephLaStella.com
Green Star also was one of the only companies to crash test
their vehicle during that era. The crash test video can be seen at
GreenStarUSA.com.
During the years 1992 to 1998, Green Star not only manufactured
electric cars and trucks but also set many of the electric vehicle
world records, which still stand to this day. Although, Green Star
received national media attention many times during this period,
the electric car era unfortunately came to an end when the electric
car mandates for California were defeated by Detroit car company
lawyers in 1998. Therefore, the expected electric vehicle market
did not materialize.
During the past year, a strong electric car market has emerged
not only in this country but around the world (especially noted in
China). Green Star is presently formulating a plan to re-launch its
electric vehicles by utilizing the expertise acquired during its
early years. GSPI cars have been tested under a federal government
program which depicted GSPI vehicle statistics that still cannot be
matched by today's electric vehicles. Detailed information in
relation to these test programs is also contained in Mr. LaStella's
two chapters.
In summary, investors in the United States and from foreign
countries have indicated their interest and support for the
re-emergence of this electric vehicle technology and expertise by
Green Star Products.
The stockholders at the meeting were very enthusiastic about the
future of our Company because the Green Nature of our Company and
the fact that existing government programs and future programs now
being laid out by the Obama Administration support all aspects of
Green Star's business strategy including biorefineries, algae
biodiesel, CO2 sequestration, energy efficiency and even the
electric vehicle market.
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.
Green Star Products (PK) (USOTC:GSPI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Green Star Products (PK) (USOTC:GSPI)
Historical Stock Chart
From Jul 2023 to Jul 2024