Inseq announced today it's 4th order from Veridium VRDM for Veridiums Corn Oil Extraction System(TM).
Inseq and Veridium are sister companies, both are held 80% and 70% by Greenshift GSHF.
Veridium acquired the exclusive rights to this process on Feb 1st. It sold the first system on Feb 14th, the second on Feb 28th the third on Mar 6th and the 4th today.
There are approximately 100 corn to ethanol refineries in the US that could benefit from this process.
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INSEQ Announces Increased Order for Biofuels Equipment
NEW YORK--(BUSINESS WIRE)--March 13, 2006--INSEQ Corporation (OTC Bulletin Board: INSQ) today announced that Veridium Corporation (OTC Bulletin Board: VRDM) increased its order for the manufacturing of Veridium's Corn Oil Extraction Systems(TM) to about $5.2 million. The terms of the increased order call for INSEQ's manufacturing and delivery of the systems starting in June 2006.
INSEQ and Veridium are respectively 80% and 70% owned by GreenShift Corporation (OTC Bulletin Board: GSHF), a business development corporation whose mission is to develop and support companies and technologies that facilitate the efficient use of natural resources and catalyze transformational environmental gains.
Kevin Kreisler, GreenShift's chairman and chief executive officer, said that "We expect that INSEQ's biofuels orders will continue to increase as Veridium continues to secure orders from ethanol and other facilities as well as standard equipment financing off of those orders. INSEQ's first priority for the immediate term will be on executing on these orders and investing in the growth of it biofuels equipment manufacturing capabilities."
About INSEQ Corporation
INSEQ Corporation is a publicly traded company whose mission is to directly facilitate the efficient utilization of natural resources including metals, chemicals, fuels and plastics. More information on INSEQ is available online at www.inseq.com.
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