GreenShift Produces Oil at Western New York Energy's Production Facility
Posted on: Tuesday, 26 February 2008, 06:00 CST
GreenShift has begun to produce crude corn oil at its 1.5 million gallon per year corn oil extraction facility co-located at Western New York Energy's 50 million gallon per year corn ethanol production facility in Medina, New York.
The Western New York Energy extraction facility is GreenShift's second operational corn oil extraction facility and it brings GreenShift's total current annualized corn oil production capacity to more than three million gallons per year.
GreenShift recently closed on a revolving line of credit that is sufficient to build an additional 10.5 million gallons per year of corn oil extraction capacity. These new facilities are expected to become operational in a staggered fashion over the next nine months and will bring GreenShift's annualized corn oil production to more than 13.5 million gallons per year.
Kevin Kreisler, chairman of GreenShift, said: "We still have to finish installing the tank farm and other infrastructure but we're going to start moving product. The Western New York Energy team has been very proactive. They have helped us bring the facility online on time and on budget. Their efforts should be commended."
Source: Datamonitor
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