Green Star Products Expands Into Biodiesel Plant Construction
SAN DIEGO, CALIF. (BUSINESS WIRE) March 31, 2006 — Green Star Products, Inc. (US OTC: GSPI) announced today that it has decided to utilize its’ Biodiesel Engineering and Construction Experience to construct Joint Venture Facilities in the U.S. and other countries.
GSPI presently holds a 35% equity member ownership in American Biofuels LLC (ABF) and assisted ABF in engineering and operations of ABF’S Biodiesel production facility in Bakersfield California for the past 3 years.
GSPI has supported ABF biodiesel development with engineering, construction and financial support to build one of the largest biodiesel plants on the West Coast.
A recent fire (see GSPI press release dated February 21, 2006) at the ABF Bakersfield Plant site has shut down production and will require some time for cleanup of the site before reconstruction can begin.
GSPI has exercised its option to secure its own biodiesel license. GSPI will use its engineering expertise to build continuous flow, waterless biodiesel plants under Joint Venture arrangements to include consulting fees, licensing fees for technology and continued royalty payments.
GSPI Biodiesel Plants include the following Competitive Advantages:
These Competitive Advantages have been solidly demonstrated over a three-year production period at the ABF Bakersfield Biodiesel Facility.
GSPI has already entered into final negotiations to construct two Biodiesel Plants.
GSPI’S Lubricant Division which operates its business activities separately from GSPI’S Biodiesel Division is also continuing to expand its Retail Product Line in the U.S. and abroad (see GSPI press releases dated January 31 and March 7, 2006).
Green Star Products, Inc. is an environmentally friendly company dedicated to creating innovative cost-effective products to improve the quality of life and clean up the environment. Green Star Products is involved in the production of renewable clean-burning biodiesel and other products, including lubricants, additives and devices that reduce emissions and improve fuel economy in vehicles, machinery and power plants. For more information, see Green Star Products' Web site at http://www.GreenStarUSA.com , or call Investor Relations at 619-864-4010, or fax 619-789-4743, or email info@GreenStarUSA.com. Information about trading prices and volume can be obtained at several Internet sites, including http://www.bloomberg.com and http://www.bigcharts.com under the ticker symbol "GSPI".
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 for the company, new products and technological changes, the company's dependence on third-party suppliers, and other risks detailed from time to time in the company's periodic filings with the Securities and Exchange Commission.
CONTACT:
Joseph LaStella, President
Green Star Products, Inc.
Chula Vista, Calif.
619-864-4010
619-789-4743 (fax)
info@GreenStarUSA.com
Last Updated: March 31, 2006