GreenShift Corporation (OTC Bulletin Board: GSHF) is executing a strategic alliance agreement with NEIE, Inc., a service-disabled veteran owned environmental management company under contract with one of the prime contractors with the U.S. Army Corps of Engineers responsible for debris management and other services in the afflicted gulf coast region. Under the terms of the agreement, NEIE has agreed to use the environmental engineering, waste management and operations management services and patented technologies of GreenShift’s various portfolio companies. The agreement calls for the use of GreenShift’s patented Tornado Generator(TM) technology and auxiliary systems for debris management and recycling on site at various locations in Louisiana and Texas and the surrounding areas.
The parties expect to deploy an initial commercial scale Tornado Generator(TM) system in New Orleans as soon as possible for efficacy testing with a view towards a large scale rollout of the technology for debris management in the region.
While Lt. Commander John “Whit” Davis, the chief executive officer of Tornado Trash Corporation, a wholly owned GreenShift portfolio company, will oversee deployment and operations for the initial system, GreenShift and NEIE plan to train and hire New Orleans and other area residents to operate Tornado Generator(TM) facilities on an ongoing basis.
The Tornado Generator(TM) accelerates compressed air to supersonic speeds in a closed cyclonic chamber where the air is powerful enough to almost instantly grind, flash desiccate and atomize solid and liquid wastes and other materials into micron sized powders. The Tornado Generator(TM) has no internal moving parts and is powered by compressed air. Needing only an appropriately sized generator and compressor, processing with the Tornado Generator(TM) is very robust and is capable of field operation.
The technology can cost-effectively and rapidly process a very broad array of wastes including agricultural wastes, septic wastes, municipal solid wastes, and construction and demolition wastes. In its most basic mode of operation, it can simply be used to dramatically reduce the volume of targeted wastes by about 90%, as well as the associated transportation and disposal costs. Systems based on the Tornado Generator(TM) can be rapidly deployed for use in the cost-effective management of debris under emergency or other conditions.
Additionally, with conventional pre-processing, the output of the Tornado Generator(TM) includes fuel pellets with an average BTU value of about 7,000 BTU/lb. These fuel pellets are dry, dense, odourless, and can be easily transported economically and safely to remote landfills or sold to local power utilities or used to generate power on site.
About GreenShift Corporation
GreenShift Corporation is a publicly traded business development company (BDC) whose mission is to develop and support companies and technologies that facilitate the efficient use of natural resources and catalyze transformational environmental gains.
BDCs are regulated by the Investment Company Act of 1940 and are essentially publicly-traded equity funds where shareholders and financial institutions provide capital in a regulated environment for investment in a pool of long-term, small and middle-market companies through the use of senior debt, mezzanine financing, and equity funding.
GreenShift plans to use equity and debt capital to support and drive the value of its existing portfolio of companies and to make investments in a diversified mix of strategically compatible growth stage public and private businesses and technologies. GreenShift’s current portfolio includes investments in the following environmentally proactive companies:
Veridium Corporation (OTC Bulletin Board: VRDM – News);
INSEQ Corporation (OTC Bulletin Board: INSQ – News);
GreenWorks Corporation;
Ovation Products Corporation;
Tornado Trash Corporation;
Mean Green BioFuels Corporation;
GreenShift Industrial Design Corporation;
Coriolis Energy Corporation;
Sterling Planet, Inc.;
TerraPass Inc.; and,
TDS (Telemedicine), Inc.
In addition, GreenShift hopes to add investments in wind power, hydropower, practical centralized applications of hydrogen power, alternative fuels, infrastructure and mining to its portfolio during 2005 and 2006.
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