NEW YORK, Sep 11, 2006 -- BUSINESS WIRE

 

GS Energy Corporation (OTC Bulletin Board: GSEG) today announced its plans to build, own and operate biomass-derived energy facilities co-located at renewable fuel production facilities, specifically facilities with biomass gasification capabilities.

Among the first of GS Energy's planned projects is a site expected to be co-located at an Integrated Multi-Fuels ("IMF") facility in Memphis, Tennessee that GS Energy's sister company, GS AgriFuels, is currently developing.

According to a recent announcement, GS AgriFuels intends to use standard fuel production technologies and a number of proprietary technologies, including innovative pre-treatment, process intensification, gasification, catalytic, and carbon capture technologies, synergistically at small-scales to enable the refining of many forms of biomass into clean fuels, including biodiesel and ethanol.

Importantly, the synthesis gas output of GS AgriFuels' biomass gasifier can be used to generate heat and power with specially designed power generation and heat transfer facilities that GS Energy intends to build, own and operate co-located at GS AgriFuels' facilities.

Combined Heat & Power

Gas fired generators convert their available energy into electricity and heat. Conventional power plants typically do not capture waste heat and are between 40% and 50% efficient. Cogeneration, or combined heat and power ("CHP"), facilities capture excess heat and can reach efficiencies of about 90%.

In addition to generating power from biomass-derived synthesis gases, GS Energy is designing its first plants to be CHP facilities that will capture the waste heat from the combustion of these gases. The waste thermal energy is expected to be used to generate steam and additional power, or to offset the need for heat in a production process at GS Energy's host site.

GS Energy expects to produce and sell power first to GS Energy's host-sites to offset their consumption needs and then to the grid. Any renewable energy certificates and other emissions credits produced by GS Energy will be marketed through GS Energy's majority-held carbon trading subsidiary, GS Carbon.

GS Energy and GS AgriFuels Corporation (OTC Bulletin Board: GSGF) are both majority-held subsidiaries of GreenShift Corporation (OTC Bulletin Board: GSHF), a company devoted to facilitating the efficient use of natural resources.

About GS Energy Corporation

GS Energy Corporation (OTC Bulletin Board: GSEG) is an integrated new energy production company whose mission is to facilitate the more efficient use of traditional sources of energy and the increased production and use of renewable sources of energy. Additional information on GS Energy and its business model is available online at www.gs-energy.com.

GS Energy recently announced its plans to take its majority-held carbon trading subsidiary, GS Carbon, public on or before October 1, 2006, by transferring 100% of GS Carbon to DirectView, Inc. (OTC Bulletin Board: DRVW) in return for the issuance by DirectView to GS Energy of about 85% of DirectView's issued and outstanding stock.

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 GS Energy Corporation, and members of their 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 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.

SOURCE: GS Energy Corporation

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