Dramatic change in GreenShift Corporation (OTCBB: GERS, GERS message board or GERS.OB) share price on Wednesday came after the company was granted a long awaited patent which allows them to use proprietary corn oil extraction technology.
This patent allows for technology that can extract oil that usually is left within the dried distillers grain with solubles (DDGS) which is left after the first extraction using the first generation extraction technology. The so called second generation technology allows the company to tap into a corn oil market currently calculated producing 20 million barrels of recoverable oil per year.
" Historically, ethanol production facilities have sold DDGS for animal feed, with all of the oil trapped inside. An estimated 3.4 million tons of corn oil passed unrecovered through the U.S. ethanol industry during 2008 alone," the company's press release states.
Further the managers stepped in to confirm GreenShift is currently the only company owning that kind of patent. That surely sounds exiting for investors as stock wise this might prove to be an explosive gainer.
The new patent can open a way for this company to gain additional funding, so their shabby performance witnessed up till now doesn't really matter at this point. In their earlier SEC filings GreenShift stated they have already applied for funding to support construction of pilot facilities on their technologies.
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