VRDM,
Veridium Enters into License Agreement with General Ultrasonics
Wednesday March 22, 8:00 am ET
New Technology Uses High Intensity Ultrasonic Energies to Synthesize Clean Fuels and Energy
NEW YORK--(BUSINESS WIRE)--March 22, 2006--Veridium Corporation (OTC Bulletin Board: VRDM - News) today announced its execution of a license agreement with General Ultrasonics Corporation, a development stage company that owns patented technologies that use ultrasonic energies to enhance physical and chemical reactions and to synthesize clean fuels from qualified carbon-based, hydrocarbon-based, and other liquids, solids and gases.
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Under the terms of the license agreement, Veridium has the right to use the General Ultrasonics technologies on all applications involving the processing of wastes such as industrial wastes, municipal solid wastes, sewage, residential wastes, and agricultural wastes.
General Ultrasonics' technologies use high intensity ultrasonic energies to enable a new type of hydrogen reformation that is capable of significantly reducing the scale at which hydrogen production is cost-effective. This reduction in scale is made possible by a demonstrated 25% reduction in the temperatures required to affect the reformation reaction as compared to standard steam reformation of natural gas (SRNG), and even greater gains as compared to partial oxidation processes (POX). In standard SRNG and POX processes, the reformation reaction is catalysed chemically. The General Ultrasonics process leverages mechanical processes to generate ultrasonic energies that in turn catalyze the reformation reaction at lower temperatures.
General Ultrasonics' reformation process was designed to produce hydrogen out of a variety of carbonaceous and hydrogen-containing feedstocks. Initial testing on General Ultrasonics' prototypes has demonstrated that hydrogen production at small scales with varied carbonaceous feedstocks is achievable with the technology.
Kevin Kreisler, GreenShift's chairman and chief executive officer, said that "I believe that the efficiency gains of the General Ultrasonics technologies also make possible substantial new opportunities to safely and cost-effectively convert wastes into clean fuels and clean energy. This is a critical technology for Veridium's portfolio. We intend to support the development of the technology in ways that first bring additional production improvements to the ethanol production industry. Veridium's first goal with the license will be to develop and deploy an application that converts discarded corn stalks and other related by-products into clean fuels and/or energy."
Veridium and General Ultrasonics are both portfolio companies of GreenShift Corporation (OTC Bulletin Board: GSHF - News), a publicly traded business development company whose mission is to develop and support companies and technologies that facilitate the efficient use of natural resources and catalyze transformational environmental gains.
About Veridium Corporation
Veridium Corporation (OTC Bulletin Board: VRDM - News) is a publicly traded industrial waste recycling company and holds the rights to more than a dozen proprietary universal processing, water purification, emissions control and waste recycling technologies.
Veridium's business model is based on the engineering and marketing of green innovations and processes that enhance manufacturing efficiencies, improve resource utilization and minimize waste. Veridium's mission is to deliver consumer oriented Natural Solutions(TM) based on an array of green technologies and applied engineering expertise that reduce waste at the source and make it easier for people and businesses to recycle and reuse resources. Veridium plans to focus on the continued acquisition, development and marketing of benchmark green technologies and products that accomplish the following key goals:
Reduce the volume of waste generated by residential and commercial consumers;
Increase the convenience and decrease the cost of recycling by residential and commercial consumers; and,
Increase the cost-efficiency of processing certain types of industrial wastes.
Veridium is about 70% owned by GreenShift Corporation (OTC Bulletin Board: GSHF - News), a publicly traded business development company whose mission is to develop and support companies and technologies that facilitate the efficient use of natural resources and catalyze transformational environmental gains. |
