January 2006

Greenshift’s Mean Green biofuels announces 30 million gallon biodiesel plant in Tennessee

Mount Arlington, NJ— GreenShift Corporation’s portfolio company Mean Green BioFuels Corporation announced its plans to build a 30 million gallon per year biodiesel production facility in western Tennessee. The new Tennessee facility will be one of five such facilities that Mean Green intends to build, own and operate commencing in 2006.

Mean Green intends to finance, build and operate five 20 to 60 million gallon per year biodiesel production facilities in the eastern United States.

“Mean Green’s business model is distinct in several ways,” said David Cantrell, chief executive officer of Mean Green. “The most important distinction is that our model is based on our use of four oil conversion feedstocks whereas most biodiesel models rely on one oil only.”

The Mean Green model is based on the production of biodiesel out of the following sources:

•soy bean oil;
•animal fats procured from rendering operations;
•corn oil extracted from ethanol facilities and;
•animal fats derived from dissolved air flotation wastewater sludges

The new Mean Green biodiesel production facility planned for western Tennessee can be expected to initially create more than 100 new local jobs. At a conservative $2.30 per gallon, the new Mean Green facility can be expected to generate about $69 million in revenue per year once operational.

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