ALPHARETTA, Ga.--(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.