GreenShift Receives Notices of Allowance on Three New Corn Oil Extraction Patents
21 January 2015 - 5:54AM
Business Wire
GreenShift Corporation (OTCQB:GERS) announced today that the
U.S. Patent and Trademark Office (“USPTO”) recently issued Notice
of Allowances for the following U.S. Pat. Application Nos.:
- 13/450,997 titled “Methods of
Processing Ethanol Byproducts and Related Subsystems” (the “’997
Patent Application”) on December 19, 2014;
- 13/185,841 titled “Method and Systems
for Enhancing Oil Recovery from Ethanol Production Byproducts” (the
“’841 Patent Application”) on December 24, 2014; and,
- 11/908,891 titled “Methods and Systems
for Washing Ethanol Production Byproducts to Improve Oil Recovery”
(the “’891 Patent Application”) on December 26, 2014.
The Notices of Allowances for these applications were issued by
the USPTO after a review of a recent Summary Judgment decision and
other filings by the defendants in an ongoing infringement action
against multiple defendants by GS CleanTech Corporation, a
subsidiary of GreenShift. Each of the recently allowed patent
applications was examined and considered patentable by a different
examiner and after each had considered the Summary Judgment
decision.
The Summary Judgment issued on October 23, 2014 by the District
Court in Indiana and ruled in favor of defendants on their motions
for summary judgment alleging that the corn oil extraction patents
issued to GS CleanTech were invalid, including US Pat. Nos.
7,601,858 and 8,168,037. As previously announced GreenShift intends
to appeal the Summary Judgment decision. Under applicable
standards, a patent is not invalid until and unless a final
judgment of invalidity is rendered after all available appeals have
been exhausted.
“We believe in our intellectual property rights and the system
of checks and balances designed to protect those rights, both in
the patent office and the courts,” said Kevin Kreisler,
GreenShift’s chief executive officer. “We will appeal the Summary
Judgment ruling at the appropriate time. In the meantime, we remain
focused on growth, innovation and bringing value to our
licensees.”
Coverage of Allowed Claims
The allowed ‘997 Patent Application is a continuation
application of US Pat. No. 7,601,858, and involves the
concentration and mechanical processing of thin stillage to
recovery at least a portion of the oil from the concentrate. The
‘891 Patent Application and the ‘841 Patent Application are
continuation applications of US Pat. No 8,168,037. The allowed
claims in the ‘841 Patent Application cover processes directed to
evaporating thin stillage to reduce water content, recovering oil
with a horizontal centrifugal three phase decanter, evaporating the
concentrate to further reduce its moisture content, and mixing the
evaporated concentrate with distillers wet grains. The allowed
claims in the ‘891 Patent Application include processes directed to
washing whole stillage with thin stillage to increase the oil
content of the thin stillage, followed by concentration and
recovery of oil.
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 commodity prices and
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.
GreenShift CorporationChris KennedyPhone: 770-886-2734Fax:
770-886-2738investorrelations@greenshift.comwww.greenshift.com
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