Green Star's Fourth Quarter Outlook 2012
October 19 2012 - 1:51PM
Marketwired
Today, the President of Green Star Products, Inc. (PINKSHEETS:
GSPI), Joseph LaStella, announced some of the accomplishments of
the company for the year 2012 and the outlook for the year 2013.
One significant arena which is moving forward is the company's
algae technology. Green Star and its consortium partners have long
researched the viability of developing high-tech closed reactor
systems to produce algae oil. Producing algae oil falls into three
major commercial types of construction facilities. Initially, our
Hybrid Algae Production System (HAPS) technology was developed for
producing algae oils and biomass primarily for commercial fuels and
food. Our second area of research, which was announced on June 6,
2012, had to do with producing omega-3 oils for the consumption of
livestock, aquaculture and humans. Omega-3 oils, especially the DHA
fatty acid, are now featured in many retail food stores in foods,
beverages and supplements. Originally offered in baby food and
formula, it has now expanded to a variety of products like omega-3
milk, eggs and bread. Next time you visit your local supermarket
just read the milk carton which reveals some of the advantages of
DHA for the body.
The DHA industry has a huge growth potential and our company has
been negotiating with potential partners in the United States,
European Union and Asia. We believe that Green Star along with its
consortium partners will start construction of a DHA facility in
the first quarter of 2013.
The third type of algae research has been primarily in an area
which up to this point we have not announced to our stockholders.
Green Star and its consortium partners have spent a significant
amount of time and effort utilizing specialized forms of algae to
consume waste products in different waste streams which include
municipal waste and other types of commercial waste. We have
concentrated on waste streams from biogas plants and also
agricultural facilities such as swine farms. These commercial
facilities unfortunately release waste products that can easily
exceed 50-to-100 times the amount of concentration of these
pollutants normally seen in municipal waste.
Green Star is happy to announce that it has signed an agreement
to immediately start phase one to develop and construct a
demonstration facility to handle these waste streams with high
concentrations of urea, ammonia, phosphates and other undesirable
products. People do not realize that urea, ammonia and phosphates,
which are considered waste products, are exactly some of the major
feedstocks that are required for growing algae. Therefore, this
type of technology would not only reduce the loading of waste
products into the environment but also will produce valuable
products, algae biomass and algae oils. The algae can also easily
'eat' the CO2 from the biogas plant's methane burning
generators.
In conclusion, Mr. LaStella also stated, "Other areas of our
company are doing well even though there have been delays because
of the economy's position. One of these areas is our lubricant
division of which the IGG product line distributed by Eco Solutions
Group has continued to expand its market penetration into the
military, law enforcement, outdoor hunting, firearm competition and
fishing industries."
About Green Star Products
Green Star Products, Inc. (PINKSHEETS: GSPI) is an
environmentally friendly public company dedicated to creating
innovative, cost-effective products to improve the quality of life
and clean up the environment. GSPI and its Consortium are involved
in the production of green sustainable goods including renewable
resources like algae biodiesel and clean-burning biofuels,
cellulosic ethanol and other green products, as well as lubricants,
additives and devices that reduce emissions and improve fuel
economy in vehicles, machinery and power plants. For more
information visit http://www.GreenStarUSA.com, or call
1-800-741-7648 and 1-800-340-9784, or email
info@GreenStarUSA.com.
Forward-looking statements in the release are made pursuant to
the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. Investors are cautioned that such
forward-looking statements involve risks and uncertainties,
including without limitation, continued acceptance of the company's
products, increased levels of competition, new products and
technological changes, dependence on third-party suppliers, and
other risks detailed from time to time in the company's periodic
filings.
CONTACT: Joseph LaStella President Green Star Products, Inc.
800-741-7648 800-340-9784 info@GreenStarUSA.com
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