GreenShift to receive $38 million investment in support 12 new corn oil extraction facilities at ethanol plants

In Michigan, GreenShift announced that it will receive a $38 million investment from GE that will finance 20 Mgy of biodiesel produced from corn oil supplied by ethanol plants. The investment will fund twelve corn oil extraction facilities at ethanol plants that will supply feedstock to the company’s NextDiesel refinery in Adrian, where capacity will be expanded to 20 Mgy. GreenShift installs corn oil extraction equipment at its own expense and buys the extracted oil at a fixed price from the corn ethanol plant. Four plants in Michigan, New York, Indiana and Wisconsin are using the company’s technology at present.

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