Latest ICM Attempts to Circumvent GreenShift’s Patented Extraction Processes Fail to Avoid Infringement
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Press Release Source: GreenShift Corporation On Tuesday September 20, 2011, 8:00 am EDT
ALPHARETTA, Ga.–(BUSINESS WIRE)– GreenShift Corporation (OTCQB: GERS) announced it has filed motions to amend its complaints against all defendants, including Colwich, Kansas-based ICM, Inc., in GreenShift’s ongoing litigation for infringement of GreenShift’s patented corn oil extraction processes.
GreenShift’s current complaint alleges that ICM is infringing U.S. Patent No. 7,601,858, titled “Method of Processing Ethanol Byproducts and Related Subsystems” (the “’858 Patent”). GreenShift has sought leave from the court to amend its complaints to include GreenShift’s newly-issued U.S. Patent No. 8,008,516 (the “’516 Patent”), a continuation of the ‘858 Patent. The ‘858 Patent and ‘516 Patent broadly cover processes for concentrating and recovering corn oil from stillage, a precursor to the distillers grain co-product of corn ethanol production.
Earlier this year, ICM announced the filing of its own patent application for its so-called advanced oil system, a process which ICM alleges “does not separate oil directly from concentrated thin stillage” and therefore does not infringe GreenShift’s patents.
“ICM’s attempt to design around GreenShift’s corn oil extraction patents continues to include concentration and recovery of oil from thin stillage with a centrifuge – a process that is covered by our issued patents,” said Kevin Kreisler, GreenShift’s Chief Executive Officer.
“We invented, developed and commercialized this technology, and we were very thorough in protecting our rights. Our patents are pioneering patents that dominate the field. If ICM actually wants to innovate and add value to the industry without incurring ever-increasing exposure for its clients, then it needs to do so lawfully. We have pledged to protect the competitive advantage of our licensees and we will continue to do so here by prosecuting ICM and any producer concentrating and recovering corn oil from stillage without license from GreenShift.”
The following is a current list of the defendants in GreenShift’s pending infringement action:
|David Vander Griend, personally|
|GEA Mechanical Equipment US, Inc. (f/k/a GEA Westfalia Separator, Inc.)|
|Flottweg Separation Technology, Inc.|
|ACE Ethanol, LLC|
|Adkins Energy, LLC|
|Al-Corn Clean Fuel, LLC|
|Amaizing Energy, LLC|
|Big River Resources Galva, LLC|
|Big River Resources West Burlington, LLC|
|Blue Flint Ethanol, LLC|
|Bushmills Ethanol, Inc.|
|Cardinal Ethanol, LLC|
|Chippewa Valley Ethanol Co., LLLP|
|Heartland Corn Products, LLC|
|Iroquois BioEnergy Company, LLC|
|Lincolnland Agri-Energy, LLC|
|Lincolnway Energy, LLC|
|United Wisconsin Grain Producers, LLC|
GreenShift’s technical services staff are available at 888-ETHANOIL or [email protected] to respond to quotation requests and to answer any questions about GreenShift’s patented corn oil extraction and other technologies.
About GreenShift Corporation
GreenShift Corporation (OTCQB: GERS) develops and commercializes clean technologies that facilitate the more efficient use of natural resources. GreenShift is focused on doing so today in the U.S. ethanol industry, where GreenShift innovates and offers technologies that improve the profitability of licensed ethanol producers. Additional information on GreenShift and its technologies is available online at www.greenshift.com.
Safe Harbor Statement
This press release contains statements that 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 of 1995. Those statements include statements regarding the intent, belief or current expectations of GreenShift Corporation and members of its 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 occurrence of unanticipated events or changes to future operating results.
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