Green Star's Fourth Quarter Outlook 2012
October 19 2012 - 6:30AM
OTC Markets
Green Star's Fourth Quarter
Outlook 2012
SALT LAKE
CITY, UT (October 19, 2012) – 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, specially 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 we have 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 visit
http://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.
CONTACT:
Joseph LaStella,
President
Green Star
Products, Inc.
800-741-7648
800-340-9784
info@GreenStarUSA.com
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