Carbonics Acquires Rights to Algae Bioreactor Technologies

NEW YORK--(BUSINESS WIRE)--Carbonics Capital Corporation (OTC Bulletin Board: CICS) is pleased to announce that it has entered into an exclusive license with GreenShift Corporation (OTC Bulletin Board: GERS) for use of its algae bioreactor technologies in municipal and industrial applications excluding ethanol production.

“While certain engineering hurdles must be overcome, we remain excited about this technology and its applications to manage carbon dioxide emissions while creating raw material for value added products”

GreenShift’s patented and patent-pending bioreactor technologies rely on thermophillic cyanobacteria (among other organisms) to consume carbon dioxide emissions and to produce carbon-neutral products. The organisms use the available carbon dioxide in the emissions and water to grow and give off oxygen and water vapor. The organisms also absorb nitrogen oxide and sulfur dioxide. All photosynthetic organisms need a supply of carbon dioxide, light, a growth media and water with nutrients to live and grow. GreenShift’s bioreactor technologies have the potential to reduce the costs and technical barriers to managing the flow resources into, through and out of the bioreactor in a compact and cost-efficient way as compared to other algae bioreactor technologies.

Carbonics’ wholly-owned subsidiary, Sustainable Systems, Inc., was awarded a $375,000 grant from the Montana Department of Commerce Research and Commercialization Technology program and is pursuing additional funding to apply toward this project to move this technology forward.

“While certain engineering hurdles must be overcome, we remain excited about this technology and its applications to manage carbon dioxide emissions while creating raw material for value added products,” stated Dr. Paul Miller, president and chief executive officer. In addition, Dr. Miller stated, “Our development team’s assessment of the algae production state of the art suggests that this is a practical closed system technology deployable on a large scale. What is unique about this technology is that we retain a high level of control of the environmental conditions within the system and we believe we can tailor the conditions for the production of biomass-derived chemicals and other products that can have commercial values greatly exceeding fuel.”

David Winsness, GreenShift’s Chief Technology Officer, added that “GreenShift is exclusively focused on the commercialization needs of its patent-pending extraction technologies. While we originally acquired our bioreactor technologies with a long-term goal of developing applications capable of integrating into corn ethanol plants, these technologies have many other applications. The Carbonics team has the ability to evaluate and develop those applications, and to manage the continued evolution of our bioreactor technologies.”

Under the terms of the license agreement, Carbonics will pay GreenShift ten percent of the pre-tax net income derived from the use of the technology or derived from the sale, sublicense or lease of technology related equipment. In addition, while GreenShift shall retain ownership of all improvements that Carbonics may develop, and the right to use any such improvements in GreenShift’s ethanol applications, Carbonics shall retain the right to use those improvements under the license agreement.

About Carbonics Capital Corporation

Carbonics Capital Corporation (OTCBB: CICS) was founded to facilitate decarbonization in ways that cost-effectively capitalize on the evolving carbon markets.

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 Carbonics Capital 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 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.

Contacts

Carbonics Capital Corporation
Gary Nash, 406-546-5263
Fax: 646-572-6336
investorrelations@carbonicscapital.com
www.carbonicscapital.com (under construction)

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