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First Container Load of Biodiesel Shipped to Asia |
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BAKERSFIELD, CALIFORNIA, Sep. 3 -/E-Wire/-- American Biofuels (ABF), a biodiesel production company 35% owned by Green Star Products, Inc. (OTC: GSPI), announced today that its first container load of U.S. produced biodiesel is on its way to Asia.
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The ABF shipment is believed to be the largest order of biodiesel ever shipped from the United States to Asia. The oceangoing container carries approximately 6,000-gallons of biodiesel packaged in over 100-barrels. This is a first major step in opening Asian markets to U.S. produced biodiesel and biodiesel technology.
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Asian economies involve over 2.5-billion people. China and India's economies alone are expanding at the largest rates in history and will soon dwarf economic growth within the United States and Europe. They are now importers of oil and their rapidly growing demand for petroleum is causing significant pollution problems in their cities.
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An article published in USA Today said:
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'Beijing will host the 2008 Olympics but Beijing's global coming-out party is threatened by one thing: The city's often-atrocious air quality. In 2001, when it won the rights to host the next Olympics, China promised a "Green Olympics." Unless more is done to scrub the air, however, the next quadrennial gathering of the world's top athletes may become the "Gray Games." '
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With world oil supplies dwindling and demand rapidly rising, Asian countries are wisely looking for other sources of fuel for expansion of their industries.
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"Major efforts are now underway in Asian countries to produce large quantities of biodiesel in the near future," said Joseph LaStella, president of GSPI. "Building biodiesel plants in Asia and locally producing biodiesel will help solve the pollution problems and create energy independence." LaStella also noted that all great industrial revolutions have included a breakthrough in energy production and distribution, from the steam engine to the internal combustion engine to electricity.
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American Biofuels, with this first large order of biodiesel to Asia along with its state-of-the-art technology, is opening the door not only to future orders but also to play an important roll in the development of biodiesel plant infrastructure across Asia. American Biofuels also continues to build its markets within the Western U.S., currently serving customers in California and Utah from its Bakersfield, California biodiesel plant.
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"GSPI has been distributing its lubricant products (SuperBAT TVT) in nine provinces in China for the past three years and has developed excellent business relationships in both India and China," LaStella said.
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Green Star Products, Inc. is an environmentally friendly company dedicated to creating innovative cost-effective products to improve the quality of life and clean up the environment. GSPI is involved in the production of renewable clean-burning biodiesel and other products including lubricants, additives and devices that reduce emissions and improve fuel economy in vehicles, machinery and power plants. For additional information, visit GSPI's Web site at http://www.GreenStarUSA.com or call Investor Relations at 619-864-4010, or fax 619-789-4743, or email info@GreenStarUSA.com. Information about trading prices and volume can be obtained at several Internet sites including http://www.bloomberg.com and http://www.bigcharts.com under the ticker symbol "GSPI."
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Forward-looking statements in the release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the company's products, increased levels of competition for the company, new products and technological changes, the company's dependence on third-party suppliers, and other risks detailed from time to time in the company's periodic filings with the Securities and Exchange Commission.
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