Files for Injunctive Relief to Cease and Desist Unlicensed Use of Patented Corn Oil Extraction Technology
GreenShift Corporation (OTC Bulletin Board: GERS) today announced that its wholly-owned subsidiary, GS CleanTech Corporation ("GreenShift"), has commenced legal action in the United States District Court, Northern District of Illinois against Big River Resources Galva, LLC and Big River Resources West Burlington, LLC (collectively, "Big River") for infringing on GreenShift's U.S. patent covering corn oil extraction technology.
The complaint alleges that Big River is infringing U.S. Patent No. 7,601,858, titled "Method of Processing Ethanol Byproducts and Related Subsystems" (the "858 Patent"). The '858 Patent covers processes for recovering corn oil by evaporating and mechanically processing thin stillage, a precursor to the distillers grain co-product of corn ethanol production ("DGS").
A motion for preliminary injunction was also filed with the complaint. In its motion, GreenShift argues that it has sufficient evidence to prove that Big River is infringing GreenShift's patented corn oil extraction technology and this infringement has caused and will continue to cause irreparable harm to GreenShift.
Use of GreenShift's patented and patent-pending corn oil extraction technologies is proven to provide licensed producers with significant competitive advantages over their competitors, including increased profit, reduced energy costs, a smaller carbon footprint, and lower risk.
Additional information is available online at www.greenshift.com.
About GreenShift Corporation
GreenShift Corporation (OTC Bulletin Board: GERS) develops and commercializes clean technologies designed to address the financial and environmental needs of its clients by decreasing raw material needs, facilitating co-product reuse, and reducing the generation of wastes and emissions.
GreenShift's mission is to build shareholder value by using its technologies to catalyze disruptive environmental gain. GreenShift believes that the first, best and most cost-effective way to achieve this is to develop technology-driven economic incentives that motivate large populations of people and companies to make incremental environmental contributions that are collectively very significant.
With adoption by most of the U.S. ethanol industry, GreenShift's commercially-available technologies can give way to disruptive gains by enabling sustainably increased production of globally-meaningful quantities of renewable fuels for distribution through existing supply chains.
GreenShift also maintains its strong commitment to continued innovation and has many additional patents pending for its Backend Fractionation™ portfolio of strategically-compatible cleantech designed to continue driving the corn ethanol industry into increased sustainability and global competitiveness.
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.
Contacts:
GreenShift Corporation
Phone: 212-994-5374
Fax: 646-572-6336
Email:
investorrelations@greenshift.com
Web:
www.greenshift.com