GreenShift Provides Bioreactor License to Carbonics Capital Corporation

GreenShift’s patented and patent-pending bioreactor technologies rely on thermophillic cyanobacteria (among other organisms) to consume carbon dioxide emissions and to produce carbon-neutral products. The organisms use the available carbon dioxide in the emissions and water to grow and give off oxygen and water vapor. The organisms also absorb nitrogen oxide and sulfur dioxide. All photosynthetic organisms need a supply of carbon dioxide, light, a growth media and water with nutrients to live and grow. GreenShift’s bioreactor technologies have the potential to reduce the costs and technical barriers to managing the flow resources into, through and out of the bioreactor in a compact and cost-efficient way as compared to other algae bioreactor technologies.

David Winsness, GreenShift’s Chief Technology Officer, added that “GreenShift is exclusively focused on the commercialization needs of its patent-pending extraction technologies. While we originally acquired our bioreactor technologies with a long-term goal of developing applications capable of integrating into corn ethanol plants, these technologies have many other applications. The Carbonics team has the ability to evaluate and develop those applications, and to manage the continued evolution of our bioreactor technologies.”

Under the terms of the license agreement, Carbonics will pay GreenShift ten percent of the pre-tax net income derived from the use of the technology or derived from the sale, sublicense or lease of technology related equipment. In addition, while GreenShift shall retain ownership of all improvements that Carbonics may develop, and the right to use any such improvements in GreenShift’s ethanol applications, Carbonics shall retain the right to use those improvements under the license agreement.

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