February 13, 2008
NEW YORK — GreenShift Corporation (OTC Bulletin Board: GERS) today announced its execution of an agreement with United Ethanol, LLC (www.unitedethanol.com), to initially extract up to 1.5 million gallons per year of crude corn oil from the distillers grain co-product from United Ethanol's new dry mill ethanol plant.
GreenShift's patent-pending Corn Oil Extraction Systems(TM) have been engineered to help ethanol producers increase cash flows through the introduction of a third and novel revenue stream - corn oil. GreenShift provides turn-key extraction systems to participating ethanol producers at no cost to the ethanol producers in return for the long-term right to purchase the extracted corn oil at a per pound premium to its value when trapped in the distiller's grains. GreenShift's extraction technology also reduces overall plant emissions and utility costs by upwards of $1 million per year for a 100 million gallon per year ethanol plant that dries 100% of its distiller's grains.