GS AgriFuels’ Portfolio Company Receives Grant
GS AgriFuels Corporation (OTC Bulletin Board: GSGF) is pleased to announce that portfolio company, Sustainable Systems, Inc. (“Sustainable”), has received a $700,000 grant award from the Montana Department of Labor’s Workforce Innovation in Regional Economic Development (“WIRED”) Program.
Sustainable is a Montana-based agricultural company focusing on high value foods, biobased fuels and bioproducts. The grant money will be used for direct training costs of employees in conjunction with their Montola oilseed crush biorefinery expansion project in Culbertson, Montana. Sustainable currently employs 22 at its Montola operations. This funding will be utilized to expand the workforce to operate a larger oilseed extraction plant and biodiesel refining plant.
GS AgriFuels’ President and Chief Executive Officer, Tom Scozzafava, stated, “Sustainable’s strong foundation in Montana combined with this state support accelerates their biorefinery expansion at Montola. These funds will support skilled training efforts on the expanded oilseed extraction facility and on our proprietary NextGen biodiesel processing system.”
Paul Miller, the President and Chief Executive Officer of Sustainable added: “We commend Governor Schweitzer, his staff, the Department of Labor and Department Commerce for recognizing the opportunities in biofuels and biobased products. The WIRED program funds will assist our expansion in Eastern Montana and represents the power of public and private partnerships for agricultural energy based economic development.”
About GS AgriFuels Corporation
GS AgriFuels was founded to produce and sell clean fuels from agriproducts in innovative ways. GS AgriFuels’ business model is based on the manufacturing and sales of proprietary biodiesel equipment and the use of new technologies to produce biodiesel and ethanol from non-traditional feedstocks such as corn oil and cellulosic biomass through the utilization of several new proprietary technologies, including innovative desiccation, process intensification, gasification, catalytic, and carbon capture technologies, synergistically at small-scales to enable the refining of many forms of biomass into clean fuels at Integrated Multi-Fuel (“IMF”) production facilities. Additional information on GS AgriFuels is available online at www.gs-agrifuels.com.
GS AgriFuels holds a 14.3% stake in Sustainable. GS AgriFuels is majority owned by GreenShift Corporation (OTC Bulletin Board: GSHF), a company devoted to facilitating the efficient use of natural resources.
About Sustainable Systems, Inc.
Sustainable Systems, Inc. (www.sustainableinc.com) is an agricultural processor that currently produces high-value culinary oils and is positioned to capitalize on the emerging biodiesel industry. The Company is executing on a significant opportunity within the expanding biodiesel fuel markets and its expanding food grade oil markets. As such, the Company’s business is to develop and operate oilseed crush facilities and bio-refineries that convert agricultural raw materials (predominantly oilseeds) into specialty food grade products and biodiesel fuel, a direct substitute for petroleum diesel. The Company is expanding capacity at its existing Montana oilseed extraction and refining plant from 300 tons per day to 600 tons per day. In addition, Sustainable is commencing the projects of two additional oilseed extraction and biodiesel refineries at strategic locations within the United States.
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 GS AgriFuels 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.