(BSNS WIRE) GreenShift's Portfolio Company Sterling Planet and Con Edison Off
r Renewable Energy Options
GreenShift's Portfolio Company Sterling Planet and Con Edison Offer Renewable En
rgy Options
Business Editors / Energy Editors
MOUNT ARLINGTON, N.J.--(BUSINESS WIRE)--Nov. 9, 2005--
GreenShift Corporation (OTCBB: GSHF) today announced
that Sterling Planet, Inc., the nation's leading retail renewable
energy provider through the sourcing and sale of renewable energy
certificates (" RECs" ) and a GreenShift portfolio company, executed an
agreement with Consolidated Edison (Con Edison) Company of New York to
provide renewable energy options to Con Edison customers in its
service area.
This is a new way to support clean energy from electricity
generators in New York State that use wind, water and bioenergy to
create electricity. Con Edison is a regulated utility that serves an
area that includes New York City (except for a small area of Queens),
and most of Westchester County.
For as little as $5 per month, residential and nonresidential
customers alike can support cleaner renewable electricity from New
York State sources - and make a difference for the environment, for
energy security and independence, and for sustainability. Customers
choose how " green" they want to go - buying enough to cover the
electricity use of a small, medium or large house or apartment.
The new Sterling Planet initiative is called NY Clean Choice(TM)
and consists of 40% new wind, 30% small hydro and 30% bioenergy. The
bioenergy component is from landfill gas, the natural byproduct of
organic decay. The three options or purchase levels are as follows:
-- Option 1: 400 kWh @ $5 per month
-- Option 2: 800 kWh @ $10 per month
-- Option 3: 1,200 kWh @ $15 per month
" Sterling Planet is pleased to offer a new, clean renewable energy
blend exclusively from New York State sources that is affordable,
geared for any size house or apartment," said Mel Jones, Sterling
Planet CEO and President. " We welcome this opportunity to offer
customers in the Con Edison service area as a way to support locally
produced energy."
NY Clean Choice(TM) is available to all who live in the Con Edison
service area, including those who do not have a Con Edison account
number because their electricity costs are bundled with other utility
or rental costs. Sterling Planet charges a slight premium which helps
cover the difference in price between New York-based cleaner renewable
power and that of more polluting non-renewable conventional
generation.
NY Clean Choice(TM) meets strict environmental standards and has
earned certification from the Environmental Resources Trust
(www.ert.net), a nonprofit organization based in Washington, D.C.
To enroll for NY Clean Choice(TM), residential and small business
customers can visit the Sterling Planet web site at
www.SterlingPlanet.com or call 1-877-457-2306.
About Sterling Planet
Sterling Planet is the nation's leading retail provider of solar,
wind and other clean, renewable energy through direct sales and
electric utility partnerships. Sales have created environmental
benefit comparable to not driving 5.7 billion miles or taking 460,000
cars off U.S. roads. Founded in 2000, Sterling Planet was the first to
offer Renewable Energy Certificates to every U.S. home and business as
a way to support sustainable energy production that benefits the
environment, the economy and society in general. Today, Sterling
Planet has 28 utility partners nationwide in Connecticut, Florida,
Massachusetts, New Jersey, New York, Rhode Island and elsewhere. The
company is also exploring emerging clean energy markets, maintaining a
focus on businesses, universities and clients seeking LEED credits for
green building certification. www.sterlingplanet.com
About GreenShift Corporation
GreenShift Corporation is a publicly traded business development
company (BDC) whose mission is to develop and support companies and
technologies that facilitate the efficient use of natural resources
and catalyze transformational environmental gains.
BDCs are regulated by the Investment Company Act of 1940 and are
essentially publicly-traded equity funds where shareholders and
financial institutions provide capital in a regulated environment for
investment in a pool of long-term, small and middle-market companies
through the use of senior debt, mezzanine financing, and equity
funding.
GreenShift plans to use equity and debt capital to support and
drive the value of its existing portfolio of companies and to make
investments in a diversified mix of strategically compatible growth
stage public and private businesses and technologies. GreenShift's
current portfolio includes investments in the following
environmentally proactive companies:
-- Veridium Corporation (OTC Bulletin Board: VRDM);
-- INSEQ Corporation (OTC Bulletin Board: INSQ);
-- GreenWorks Corporation;
-- Ovation Products Corporation;
-- Tornado Trash Corporation;
-- Mean Green BioFuels Corporation;
-- Ethanol Oil Recovery Systems, LLC;
-- GreenShift Industrial Design Corporation;
-- Sterling Planet, Inc.;
-- TerraPass Inc.; and,
-- Coriolis Energy Corporation;
-- TDS (Telemedicine), Inc.;
Additional information regarding GreenShift Corporation is
available online at www.greenshift.com.
Safe Harbor Statement
This press release contains statements, which 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 their
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.
This presentation contains statements, which 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 their
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.
KEYWORD: NORTH AMERICA NEW JERSEY UNITED STATES
INDUSTRY KEYWORD: ENERGY ALTERNATIVE ENERGY OIL/GAS UTILITIES PROFESSIONAL SERVI
ES FINANCE CONSUMER CONTRACT/AGREEMENT
SOURCE: GreenShift Corporation
CONTACT INFORMATION:
GreenShift Corporation
Jim Grainer, 973-398-8183
Fax: 973-398-8037
investorrelations@greenshift.com
www.greenshift.com
or
CEOcast, Inc. for GreenShift Corporation
Ed Lewis, 212-732-4300
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