GSPI Signs Biodiesel Engineering Contract

Green Star Products (GSPI) signed a contract to provide field engineering and construction expertise for a North Carolina Biodiesel Plant. It will be funded and owned by Renewable Resources International (RRI), which is owned by a group of environmentally conscious investors that collectively own approximately 3 percent of GSPI stock. This facility could generate up to $4 million in royalties each year to GSPI at full capacity.

The RRI facility is located close to existing biodiesel feedstock plants (soy oil crushing facilities) and adjacent to primary diesel fuel distribution terminals. Green Star Products will provide plant engineering and consulting services during construction, ongoing expansion support, and long-term oversight management on a contract basis. Green Star Products will also receive 2.5 percent gross royalties on sales. Initial Phase I of construction will provide for infrastructure expansion up to a capacity of 60 million gallons per year (mgy). Expansion will proceed from 10 mgy capacity to the maximum infrastructure capacity by adding 5 mgy capacity reaction modules in stages. Phase II of the RRI program incorporates much larger production on a worldwide basis. Contractually, GSPI will participate in Phase II of RRI expansion with similar management and royalty arrangements.
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