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 visithttp://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.