September 23, 2010
Today, Green Star Products, Inc., announced it has signed a contract to build a biodiesel facility. This is the first of several contracts in conjunction with an ambitious Algae-to-Biodiesel project on the west coast.
Green Star has already started fabrication of the 13 modules required for the processing of algae oil and other low cost available oils to produce biodiesel. The contract states that Green Star will build these modules at cost and will earn Green Star a future equity position and cash flows from the facility.
This strategy has been a long term concept for Green Star which insures that the Company is not selling its proprietary technology but only builds facilities in which it shares in the ownership and cash flows. This also helps guarantee the security of its intellectual property.
The algae to biodiesel plant will be rated initially at two million gallons per year with all necessary provisions incorporated so that the plant can easily be expanded to larger capacities in the future. The algae bioreactor system associated with this biodiesel plant is still under negotiation. Green Star will also participate in the engineering, fabrication and construction of the algae facility.
Since this algae-to-biodiesel facility will be one of the largest of its kind ever built, it will not only be designed as a commercial facility but also serve as a giant research facility. Many other organizations will be involved, including universities and international research companies.
Source : Press Release
See Also :
Green Star Products Releases Algae Demonstration Report
GSPI Completes Algae to Biodiesel Winter Demo Testing
GSPI Signs Contract to Build Algae-to-Biodiesel Facility