GreenShift Executes Agreement With United Ethanol To Extract Corn Oil
New York - GreenShift Corporation recently announced its execution of an agreement with United Ethanol, LLC, to initially extract up to 1.5 million gallons per year of crude corn oil from the distillers grain co-product from United Ethanol's new dry mill ethanol plant.
United Ethanol began operating in March 2007 and has demonstrated its commitment to the advancement of ethanol production through its agreements with GreenShift (to extract and sell corn oil), EPCO Carbon Dioxide, Inc. (to bottle and sell carbon dioxide), Environmental Credit Corporation and Carbon Green, LLC (to monetize carbon credits). GreenShift's patent-pending Corn Oil Extraction Systems have been engineered to help ethanol producers increase cash flows through the introduction of a third and novel revenue stream – corn oil. GreenShift provides turn-key extraction systems to participating ethanol producers at no cost to the ethanol producers in return for the long-term right to purchase the extracted corn oil at a per pound premium to its value when trapped in the distiller's grains. GreenShift's extraction technology also reduces overall plant emissions and utility costs by upwards of $1M per year for a 100 million gallon per year ethanol plant that dries 100% of its distiller's grains.
Kevin Kreisler, GreenShift's chairman said that "Corn ethanol producers recognize the need to use technology to enhance margins and defray risk. The best way to do this is to implement "plug and play" technologies that enhance the yields and operating efficiencies of traditional ethanol production process. Our corn oil extraction technology is the first of several technologies that meet that goal that we are bringing to market and we are excited by the opportunity to work with United Ethanol."
Focus on Ethanol Production
GreenShift is focused on delivering technologies and process innovations to the ethanol production industry with a view towards maximizing the yield of corn-based ethanol production. GreenShift's currently available offerings in its ethanol program include its:
- Corn oil extraction systems;
- Integral biodiesel production systems;
- Integral biomass gasification for combined heat and power solutions.
GreenShift is also developing new technologies, such as its carbon dioxide algal bioreactor technology, for application at ethanol facilities.
Traditional ethanol processing converts each bushel of corn, which weighs about 54 pounds, into about 18 pounds of ethanol, 18 pounds of carbon dioxide, and 18 pounds of distillers dried grains, which contain about 2 pounds of fat. This corresponds to about 2.8 gallons of fuel production per bushel of corn. GreenShift's ambition is to increase this efficiency as much as possible by converting as co-products such as DDG and carbon dioxide into additional renewable fuels.
SOURCE: GreenShift Corporation