GreenShift Receives Notice of Allowance for Corn Oil Extraction Patent Application
Expands Patent Coverage
September 10, 2012 10:59 AM Eastern Daylight Time
ALPHARETTA, Ga.--(BUSINESS WIRE)--GreenShift Corporation (OTCQB: $GERS) today announced that the United States Patent and Trademark Office (“USPTO”) issued another new Notice of Allowance covering GreenShift’s corn oil extraction processes, this time for patent application number 13/107,197 titled “ Method of Processing Ethanol Byproducts and Related Subsystems ” (the “197 Application”).
“We are very excited by the addition of this patent to our portfolio, and we look forward to the continued delivery of success-driven services, best-in-class systems, improved profitability, and continued innovations to our licensees.”
“GreenShift has pledged to protect the competitive advantage of its licensees,” said David Winsness, GreenShift’s Chief Technology Officer. “This is the 14 th notice of allowance for GreenShift’s pioneering corn oil extraction technology, and it is another vital weapon in our fight against the unlawful use of our intellectual property.”
GreenShift’s patents have undergone a continuing and exhaustive review by the USPTO. Critically, the ‘197 Application was allowed after the USPTO reviewed all of the relevant materials submitted by the defendants in GreenShift’s current infringement litigation.
“We are very excited by the addition of this patent to our portfolio, and we look forward to the continued delivery of success-driven services, best-in-class systems, improved profitability, and continued innovations to our licensees.”
“The value of corn oil extraction can mean the difference between lights-on or lights-off for an ethanol facility,” added Winsness. “The technology generally adds 20 to 35 cents per bushel to a producer’s bottom line. That is a tremendous benefit, but it is also a tremendous risk – especially to the mangers, officers and board members of producers and other entities that willfully infringe or induce others to infringe.”
GreenShift’s technical services staff are available at 888-ETHANOIL or sales@greenshift.com to respond to quotation requests and to answer any questions about GreenShift’s corn oil extraction and other technologies.
About GreenShift Corporation
GreenShift Corporation develops and commercializes clean technologies designed to address the financial and environmental needs of GreenShift’s 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.
Contact:
GreenShift Corporation Chris Kennedy, 770-886-2734 888-EthanOil Fax: 770-886-2738 investorrelations@greenshift.com www.greenshift.com
