Corn Oil from Ethanol Byproduct Converts into Biodiesel

Under a new agreement with an Illinois-based ethanol producer, GS CleanTech Corporation will extract about 12 million gallons per year of corn oil for conversion into a biodiesel feedstock.

GS CleanTech will install its Corn Oil Extraction System onsite at two ethanol production facilities where GS CleanTech expects to generate up to $18 million in annualized revenues. GS CleanTech’s Corn Oil Extraction Systems extract about 3 million gallons of crude corn oil from a typical 50 million gallon ethanol production facility and enable the ethanol producer to increase their revenues by about 3.5%, or by as much as $4.7 million in new annualized sales. GS CleanTech’s pricing model for its corn oil extraction technology is based on GS CleanTech’s provision of turnkey extraction systems in return for no up-front cost in long-term agreements to purchase the extracted corn oil based on a fixed discount to prevailing fuel prices.

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