Increased Corn Oil Extraction Backlog

NEW YORK--
GreenShift Corporation (OTC Bulletin Board: GERS) today announced that it has recently executed term sheets with several corn ethanol producers that correspond to more than 15 million gallons per year (“MMGY”) of extracted corn oil.

GreenShift typically enters into non-binding term sheets with its prospective clients as a prelude to drafting and executing final agreements for the construction of facilities based on GreenShift’s proprietary corn oil extraction technologies. If successfully converted into new contracts, the recently executed term sheets would increase GreenShift’s backlog to more than 55 MMGY when taken with GreenShift’s existing contracts.

Kevin Kreisler, GreenShift’s chief executive officer added that: “The recent allowance of our first two corn oil extraction patents has favorably altered our market positioning, making available an increased array of tactical options to build value for our clients and shareholders.

SEE ENTIRE ARTICLE HERE:
http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20090511005871&newsLang=en

SkunK NOTE:
Although this was not the headline, and although increasing our backlog is important, this sentence hidden in the text is something I was really hoping to see and deserves its own headline. Readers of this blog know we have numerous COES patent applications. Some are more important than others. We could not tell from the initial PR if the patents accepted were SEQUENTIAL. In other words, were some passed over, to order to accept a fringe patent?? Where we not going to get the base patents? The answer is NO! The ones we got back were the first two. And were the most important. Good news for all my fellow investors!


"GreenShift recently received Notices of Allowance from the U.S. Patent and Trademark Office for the first two and the most significant of GreenShift’s corn oil extraction patent applications."

http://www.earthtimes.org/articles/show/greenshift-increases-corn-oil-extraction-backlog,819110.shtml

SkunK