GreenShift, a clean technology company, has signed a license agreement with Corn LP, a company that produces ethanol using corns, under which Corn LP will use GreenShift’s patented corn oil extraction technologies at its 50 million gallon ethanol plant in Goldfield, Iowa.
The agreement will allow Corn LP to finance, build and operate a new corn oil extraction facility based on GreenShift’s patented corn oil extraction processes.
In addition, Corn LP will receive technical support from GreenShift to enhance the performance and benefits of its planned new corn oil extraction installation.
Corn LP general manager Brad Davis said that the company has set a number of new performance records within the past year, with record levels of ethanol and DDGS production from its plant and improved operating efficiencies.
“We are confident that 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,” Davis said.