Developers Target Ukraine for Integrated Feedstock and Biofuel Refinery
Developers Target Ukraine for Integrated Feedstock and Biofuel Refinery
U.S. Based Biofuel Innovator GreenShift Tapped for TechnologyDevelopment
Feb. 23, 2010 (Business Wire) -- Alternativa (IOM) Limited and GreenShift Corporation (OTC Bulletin Board: GERS) today jointly announced that they have entered into an exclusive supply and cooperation agreement for the purpose of designing and developing sustainable integrated feedstock and renewable energy production facilities.
The companies will initially focus on selected geographies throughout the world that have both abundant undeveloped biomass-derived feedstock resources and the downstream supply-chain infrastructure needed for robust distribution and use of renewable energy and other biomass-derived products at scale.
The first planned facility is planned for Ukraine, and will be designed to process rapeseed into substantial quantities of renewable fuels, edible oils and animal feed in an environmentally-friendly fashion. While the development of the Ukrainian project is at an advanced stage, Alternativa is evaluating several additional sites for development of similar facilities in Russia and Canada. Each site will be designed to cost-effectively refine undeveloped first-generation biomass resources into value-added carbon-neutral products, but also to include fully-integrated applications of innovative second- and third-generation feedstock production and refining technologies, such as GreenShift?s patented and patent-pending oil extraction and Cellulosic Oil? technologies.
Richard Spinks, founder of Alternativa commented: ?Alternativa was formed for the prime purpose of developing feedstock growing and sourcing relationships, in Ukraine and elsewhere, ensuring reliable, long-term supplies to an established network of renewable energy projects. Alternativa?s team is excited at the prospect of working with the cutting edge technologies available from GreenShift. Our team has deep experience in the production of Biofuels Feedstocks and, with the proprietary technologies that GreenShift brings to our projects, we are confident that we can be a leading low-cost producer of biofuels with best-of-class production facilities.?
Greg Barlage, GreenShift?s Chief Operating Officer added, ?Alternativa has a strong business model and a team with the skill-sets needed to successfully develop projects in difficult environments. Alternativa?s team is very experienced in Ukraine, Russian and other Central and Eastern European markets, with a strong understanding of the local business climate. The Ukraine project has the potential to pioneer Ukraine?s move to renewable energy, while providing economic stimulus, increased employment and a valuable contribution to addressing the challenges posed by global climate change. We are excited to have the opportunity to partner with Alternativa in its development of this and future projects.?
Spinks concluded: ?GreenShift focused on feedstock development years before the rest of the market, and has since invented and commercialized technologies that have created the first scalable large-quantity, second-generation feedstock model world-wide ? a model the U.S. EPA recently predicted will contribute an incredible 680 million gallons per year of feedstock to the renewable fuels industry by 2022. We are excited to have GreenShift?s experience and support at the start as we build facilities that we hope will set a new standard for the sustainable production of renewable energy products.?
About Rapeseed
Rapeseed oil is an excellent feedstock for biodiesel, with applications in transportation, heating and energy production. Rapeseed oil is the preferred biodiesel feedstock in most of Europe, partly because rapeseed produces more oil per unit of land area compared to soybean and other oilseeds. The natural oil content of rapeseed is approximately 42%, among the highest of biodiesel feedstocks. Extracting oil from rapeseed leaves a valuable rapeseed meal by-product, a high-protein animal feed that is mostly used for cattle feeding, but also for swine and poultry.
The market for rapeseed in the European Union (?EU?) is strong, and is characterized by high prices resulting from significant localized demand for rapeseed oil for food and biofuel uses. The volume of rapeseed production has grown substantially in recent years within Ukraine, as the Ukraine government has focused on renewable fuel production.
Alternativa?s Ukraine project can be expected to provide a strong, stable base of local demand that Ukraine growers can rely on to increase rapeseed crop production to serve the domestic requirements of Ukraine as well as exports into the EU. Alternativa has already entered into a long term agreement with a major producer of rapeseed towards providing the feedstock for its first planned Ukraine project.
About Alternativa
Alternativa (IOM) Limited is the latest company to be established by British businessman Richard Spinks, the former Chief Executive Officer of Landkom International PLC (LSE:LON), a company he founded in 2005 and built to become one of Ukraine?s leading rapeseed growers and the first to achieve a listing on the London Stock Exchange in November 2007. Mr. Spinks has been successfully founding and growing businesses in the Central and Eastern European markets since 1989. His vision has been and remains to develop and bring fully integrated Agricultural and Renewable Energy Production Assets to the market, thus bridging the gap between reliable feedstock supply and reliable energy production. Mr. Spinks has assembled Alternativa?s highly capable development team with proven leaders from 7 countries with strong Finance, Legal and Operational backgrounds, priming Alternativa to establish itself as a leading low-cost producer of renewable energy products with best-of-class production facilities.
About GreenShift Corporation
GreenShift Corporation (OTC Bulletin Board: GERS) develops and commercializes clean technologies designed to address the financial and environmental needs of its clients by decreasing raw material needs, facilitating co-product reuse, and reducing the generation of wastes and emissions. 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 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.
Source: Business Wire (February 23, 2010 - 9:18 AM EST)
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