Developers Target Ukraine For Integrated Feedstock And Biofuel Refinery

Alternativa (IOM) Limited and GreenShift Corporation (OTC Bulletin Board: GERS) today jointly announced that they have entered into an exclusive supply and cooperation agreement for the purpose of designing and developing sustainable integrated feedstock and renewable energy production facilities.

The companies will initially focus on selected geographies throughout the world that have both abundant undeveloped biomass-derived feedstock resources and the downstream supply-chain infrastructure needed for robust distribution and use of renewable energy and other biomass-derived products at scale.

The first planned facility is planned for Ukraine, and will be designed to process rapeseed into substantial quantities of renewable fuels, edible oils and animal feed in an environmentally-friendly fashion. While the development of the Ukrainian project is at an advanced stage, Alternativa is evaluating several additional sites for development of similar facilities in Russia and Canada. Each site will be designed to cost-effectively refine undeveloped first-generation biomass resources into value-added carbon-neutral products, but also to include fully-integrated applications of innovative second- and third-generation feedstock production and refining technologies, such as GreenShift’s patented and patent-pending oil extraction and Cellulosic Oil™ technologies.

Richard Spinks, founder of Alternativa commented: “Alternativa was formed for the prime purpose of developing feedstock growing and sourcing relationships, in Ukraine and elsewhere, ensuring reliable, long-term supplies to an established network of renewable energy projects. Alternativa’s team is excited at the prospect of working with the cutting edge technologies available from GreenShift. Our team has deep experience in the production of Biofuels Feedstocks and, with the proprietary technologies that GreenShift brings to our projects, we are confident that we can be a leading low-cost producer of biofuels with best-of-class production facilities.”

Greg Barlage, GreenShift’s Chief Operating Officer added, “Alternativa has a strong business model and a team with the skill-sets needed to successfully develop projects in difficult environments. Alternativa’s team is very experienced in Ukraine, Russian and other Central and Eastern European markets, with a strong understanding of the local business climate. The Ukraine project has the potential to pioneer Ukraine’s move to renewable energy, while providing economic stimulus, increased employment and a valuable contribution to addressing the challenges posed by global climate change. We are excited to have the opportunity to partner with Alternativa in its development of this and future projects.”