Clean technology company GreenShift has executed a license agreement with Corn LP, a producer of ethanol using corns, for use of its patented corn oil extraction technologies at Corn LP's 50 million gallon ethanol plant in Goldfield, Iowa.
Under the agreement, Corn LP will finance, build and operate a new corn oil extraction facility based on GreenShift’s patented corn oil extraction processes.
In addition, GreenShift will provide Corn LP with ongoing technical support with a view towards maximizing the performance and benefits of Corn LP’s planned new corn oil extraction installation.
Corn LP general manager Brad Davis said that the company has set new performance records within the past year, with record levels of ethanol and DDGS production from its plant and improved operating efficiencies.
"The addition of GreenShift’s patented corn oil extraction processes to our facility will help us build on our successes with additional improvements in efficiency and profitability."