On Friday June 24, 2011, 1:42 pm EDT
NEW YORK--(BUSINESS WIRE)-- GreenShift Corporation (OTCQB: GERS) announced today that it has licensed its patented technology to Sunoco for extraction of corn oil from a co-product of Sunoco's corn ethanol manufacturing facility in Fulton, New York. The recovered corn oil is a valuable raw material for use in the manufacturing of biodiesel and other carbon-neutral products.
Designated an 'advanced technology' by the U.S. Environmental Protection Agency, GreenShift's patented corn oil extraction is proven to improve the profitability, energy efficiency and carbon footprint of ethanol plants. GreenShift's extraction process gives Sunoco the exciting ability to contribute to the production of a second renewable fuel (biodiesel) from every kernel of corn that is refined into ethanol. One kernel of corn can now produce two renewable fuels using GreenShift's proprietary process.
Sunoco additionally awarded GreenShift the construction project to design and install the equipment.
"We selected GreenShift to be our technology provider after extensive review," added Gary Center, Fulton ethanol facility manager at Sunoco. "The ability to extract corn oil to sell to third parties will provide a positive economic impact at the plant."
"GreenShift is very pleased to be working with Sunoco; throughout the entire process Sunoco demanded the very best, and we are pleased that we were able to deliver," added Edward Carroll, GreenShift's President.
About Sunoco, Inc.
Sunoco (NYSE:SUN - News) is a leading transportation fuel provider with operations located primarily in the East Coast and Midwest regions of the United States. The company sells transportation fuels through more than 4,900 branded retail locations in 23 states. APlus convenience stores are operated by the company or independent dealers in more than 600 retail locations. The retail network in the Northeast is principally supplied by Sunoco-owned refineries with a combined crude oil processing capacity of 505,000 barrels per day. Sunoco is also the General Partner and has a 31-percent interest in Sunoco Logistics Partners, L.P., a publicly traded master limited partnership which owns and operates 7,600 miles of refined product and crude oil pipelines and approximately 40 active product terminals. Through SunCoke Energy, Sunoco makes high-quality metallurgical-grade coke for major steel manufacturers. The company's facilities in the U.S. have the capacity to manufacture approximately 3.7 million tons of metallurgical-grade coke annually. Sunoco also is the operator of, and has an equity interest in, a 1.7 million tons-per-year coke-making facility in Vitória, Brazil.
About GreenShift Corporation
GreenShift Corporation (OTCQB: GERS) develops and commercializes clean technologies that facilitate the more efficient use of natural resources. GreenShift is focused on doing so today in the U.S. ethanol industry, where GreenShift innovates and offers technologies that improve the profitability of licensed ethanol producers. Additional information on GreenShift and its technologies is available online at www.greenshift.com.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of GreenShift Corporation and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of commodity prices and operating results, the ability to compete successfully, and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Contact: GreenShift Corporation 770-886-2734 Fax: 770-886-2738 firstname.lastname@example.org www.greenshift.com