INSEQ Executes $30 Million Manufacturing Agreement; Company to Manufacture Proprietary Systems to Extract Corn Oil for Conversion into Biodiesel Fuel.MOUNT ARLINGTON, N.J. -- INSEQ Corporation (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : INSQ) today announced its execution of an agreement with Ethanol Oil Recovery Systems, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ("EORS EORS European Orthopedic Research Society "), to manufacture proprietary systems to extract crude corn oil corn oil n. A pale yellow liquid obtained from the embryos of corn grains, used especially as a cooking and salad oil and in the manufacture of margarines. Noun 1. from the evaporation evaporation, change of a liquid into vapor at any temperature below its boiling point. For example, water, when placed in a shallow open container exposed to air, gradually disappears, evaporating at a rate that depends on the amount of surface exposed, the humidity area of dry mill ethanol facilities for further refining into biodiesel fuel. EORS, a green technology development company, is the inventor of a new patent-pending breakthrough technology for the cost-effective conversion of corn oil into biodiesel fuels. EORS is a participant of a development partnership comprised of and managed by ethanol producers and plans to finance and construct a biodiesel production Biodiesel production is the process of synthesizing biodiesel. Biodiesel is a liquid fuel source largely compatible with petroleum based diesel fuel. The most common method for its manufacture is synthesis by reacting a glyceride-containing plant oil with a short chain alcohol such facility that will refine the crude corn oil and convert it into biodiesel fuels. The EORS process will redirect an internal waste stream in dry mill ethanol facilities through EORS' proprietary extraction systems where crude corn oil is extracted and then prepared for shipment offsite for further refining. The extraction systems are the essential element of the EORS technology. Under the terms of INSEQ's agreement with EORS, EORS has granted INSEQ right of first refusal Right of First Refusal In general, the right of a person or company to purchase something before the offering is made available to others. Notes: For example, a football team may have the right of first refusal on a player's contract. rights relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the manufacture of the extraction systems and any other manufacturing needs relating to the extraction systems. INSEQ expects the extraction systems to retail for about $1 million per system and that EORS and its affiliated entities will need in excess of 30 systems over the next 24 months, for total expected revenues of more than $30 million. INSEQ will manufacture the systems at its Ohio based specialty equipment manufacturing facility. The first of these systems are expected to ship during the fourth quarter of 2005. Kevin Kreisler, INSEQ's chairman, said that "The EORS technology is an exciting and important advance that is designed to plug right into most ethanol producers' existing infrastructure. We see the EORS technology as a particularly potent example of how we can and should be using our natural resources better, and how we can be more profitable for it. These systems will generate additional revenue and increase earnings for ethanol producers, as well as for EORS and INSEQ, and they will enable the increased production of cleaner burning green fuels that can be expected to reduce demand for fossil fuels and reduce the generation of greenhouse gases." Kreisler added: "GreenShift intends to facilitate profitable interaction between its portfolio companies as appropriate. This agreement is a significant development for both INSEQ and EORS and GreenShift expects to provide INSEQ with financing and any other support it needs as it gears up to meet EORS' needs over the coming months." EORS and INSEQ are respectively 15% and 70% owned by GreenShift Corporation (OTC Bulletin Board: GSHF), a business development corporation whose mission is to develop and support companies and technologies that facilitate the efficient use of natural resources and catalyze cat·a·lyze v. To modify, especially to increase, the rate of a chemical reaction by catalysis. catalyze to cause or produce catalysis. transformational environmental gains. About INSEQ Corporation INSEQ Corporation is a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. whose mission is to directly facilitate the efficient utilization of primary and secondary commodities including metals, chemicals, fuels and plastics. More information on INSEQ is available online at www.inseq.com. INSEQ is 70% owned by GreenShift Corporation, a business development corporation whose mission is to develop and support companies and technologies that facilitate the efficient use of natural resources and catalyze transformational environmental gains. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This press release contains statements, which 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 The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Those statements include statements regarding the intent, belief or current expectations of INSEQ Corporation, and members of their 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 statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results. |
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