12.4.2007: Meldung: GS CleanTech Provides Update on Merger

GS CleanTech Corporation provided its shareholders with an update regarding GS CleanTech"s planned merger with its parent company, GreenShift Corporation. Under the terms of the merger announced last week, holders of GS CleanTech common stock will receive 1 share of GreenShift common stock for each 3 shares owned in GS CleanTech. The merger is subject to the approval of GS CleanTech"s shareholders. GS CleanTech expects the filings for the merger to be made during the second quarter 2007 and expects the merger to be completed during 2007.

"We view the merger with GreenShift to be a very exciting development for GS CleanTech," said David Winsness, GS CleanTech"s president and chief executive officer. "GreenShift has assembled a portfolio of companies, investments and technologies around the common theme of facilitating the more efficient use of natural resources. GS CleanTech is currently part of the GreenShift portfolio and, through the merger, GS CleanTech"s shareholders will have the opportunity to participate in ownership in the balance of GreenShift"s portfolio."

Kevin Kreisler, GreenShift"s chairman and chief executive officer, added that: "Our plan has always been to nurture each of our platform companies with a view towards assisting each company meet its financial, operational, sales and management needs. We believe that GS CleanTech"s business has matured significantly and to the point where a merger with GreenShift will be accretive to the intrinsic value of both companies. Further, we expect the consolidation of GreenShift with GS CleanTech will enable us to cost-effectively refinance our current debt while we leverage the broader GreenShift asset base to bring in cheaper capital. This is particularly important as we continue to grow our corn oil extraction program and our capital needs increase in lockstep with that growth."

GreenShift Companies

GreenShift has structured its holdings according to a sector-specific approach, within "pure-play" platform companies with investment theses that are both distinct and consistent with GreenShift"s overall mission. GreenShift"s majority-held companies are currently generating in excess of $30 million in sales and hold over 30 patents and pending patents for clean technologies that have wide and potentially disruptive application potential.

GS AgriFuels was founded by GreenShift to produce and sell clean fuels and energy from agriproducts in innovative ways. GS AgriFuels" business model is based on the manufacturing and sales of proprietary biodiesel equipment and the use of new technologies to produce biodiesel and other biomass-derived fuels and energy from non-traditional feedstocks such as corn oil and cellulosic biomass through the utilization of several new proprietary technologies.

GS AgriFuels" wholly owned subsidiaries include NextGen Fuel, Inc., a provider of innovative patent-pending biodiesel production technologies, Sustainable Systems, Inc., an agricultural processor with an oilseed crushing facility, and Mean Green BioFuels, Inc., the holding company for GS AgriFuels" various planned future biodiesel production facilities. GS AgriFuels owns a 10% stake in ZeroPoint Clean Technology, Inc., which company is commercializing patent-pending and proprietary biomass gasification, gas-to-liquids, gas processing and fuel reforming technologies. Notably, GS AgriFuels holds the exclusive distribution rights to ZeroPoint"s technologies in the North American ethanol production industry.

GS AgriFuels is also party to a merger agreement with, GS Energy Corporation (OTC Bulletin Board: GSEG - News), another majority-held GreenShift company, pursuant to which holders of GS Energy common stock will receive 1 share of GS AgriFuels common stock for each 1,000 shares owned in GS Energy. The filings for this transaction are expected to be filed in April 2007. GS Energy"s Warnecke Design Services, Inc., a specialty equipment manufacturer, will become a wholly owned subsidiary of GS AgriFuels upon completion of the GS AgriFuels - GS Energy merger.

Additional information on GS AgriFuels is available online at www.gs-agrifuels.com.

-- GS CleanTech Corporation (OTC Bulletin Board: GSCT - News)

GS CleanTech is GreenShift"s process engineering and technology
transfer company, and it focuses on process innovations that
enhance manufacturing efficiencies, improve resource utilization
and minimize waste. GS CleanTech holds the rights to a number of
innovative technologies including its Corn Oil Extraction, CO2
Bioreactor and Tornado Generator(TM) technologies.

GS CleanTech is currently focused on delivering its technologies
and process innovations to the ethanol production industry with a
view towards maximizing the yield of traditional corn-based
ethanol production. As GS CleanTech moves beyond its current
efforts in the ethanol production industry, it intends to bring
its technologies and process innovations to other industries
including the agriproducts, power generation, petrochemical
refining, and municipal and industrial waste processing
industries.

GS CleanTech recently executed several agreements to deploy a
number of its corn oil extraction systems on-site at ethanol
facilities to extract corn oil from an ethanol co-product for sale
to GS AgriFuels and conversion into biodiesel.

In total, GS CleanTech"s current executed contracts will produce
more than 25 million gallons of corn oil for conversion into
biodiesel fuel as the relevant systems are fully installed during
2007 and 2008. GS CleanTech is currently deploying several of
these extraction systems and expects to commission the first of
these new systems this month and another 4 systems during the
second and third quarters of this year. GS CleanTech also expects
to enter into additional agreements this year corresponding to
significantly more production of corn oil.

GS CleanTech"s also owns several clean technology investments
including General Hydrogen Corporation (about 3%), Ovation
Products Corporation (about 12%), and GS EnviroServices, Inc.
(about 65%).

Additional information on GS AgriFuels is available online at
www.gs-cleantech.com.

-- GS Carbon Corporation (OTC Bulletin Board: GSCR - News)

GS Carbon was founded by GreenShift to facilitate decarbonization
in ways that cost-effectively capitalize on the evolving carbon
markets. GS Carbon"s primary operations today are focused on the
research and development of commercially viable advanced
applications of cutting-edge clean technologies.

GS Carbon owns the exclusive rights to a proprietary new ultrasonic
reformation process uses water, carbon-based materials and high
intensity ultrasonic energies to synthesize clean burning fuels
and other products. GS Carbon also owns several patent-pending
technologies involving carbon aerogel composites.

GS Carbon"s testing laboratories are currently focused on
commercializing new technologies that increase the efficiency and
reduce the emissions profile of energy production. Current
research and development projects include ultrasonic reformation
of carbon-based liquids and gases into clean fuels, and synthesis
and use of novel carbon-based products.

In addition to its wholly owned General Ultrasonics Corporation and
General Carbonics Corporation subsidiaries, GS Carbon also holds
stakes in Sterling Planet, Inc. (about 10%), TerraPass, Inc.
(about 10%), and Air Cycle Corporation (about 30%).

GS Carbon is also party to a merger agreement with GreenShift
pursuant to which holders of GS Carbon common stock will receive 1
share of GreenShift common stock for each 3 shares owned in GS
Carbon. This merger remains subject to the approval of GS Carbon"s
shareholders.

Additional information on GS AgriFuels is available online at
www.gs-carbon.com.

-- GS EnviroServices Corporation (OTC Bulletin Board: TDSM - News)

GS EnviroServices (f/k/a TDS (Telemedicine), Inc.) provides
diversified environmental management services, including value-
added, environmentally conscious and cost-effective hazardous and
industrial waste management services based on the efficient
management of wastes and with a focus on superior technical
solutions for the management, recycling and reuse of wastes.

GS EnviroServices also provides site remediation and environmental
engineering services and operates a Resource Conservation and
Recovery Act (RCRA) Part B permitted TDSF, and field and technical
service centers throughout New England.

GS EnviroServices" subsidiaries include Enviro-Safe Corporation and
Enviro-Safe Corporation (NE), and GS EnviroServices completed an
acquisition this week of the remedial construction group from
Vertex Environmental, an environmental engineering company.

After the completion of the above pending merger transactions,
current GS CleanTech shareholders will own shares in GreenShift,
which will have two majority-owned public subsidiaries, GS
AgriFuels and GS EnviroServices, and two wholly owned private
operating subsidiaries, GS CleanTech and GS Carbon.

About GreenShift Corporation

GreenShift Corporation develops and supports clean technologies and companies that facilitate the efficient use of natural resources. GreenShift"s ambition is to catalyze the rapid realization of disruptive environmental gains by creating valuable opportunities for a great many people and companies to use resources more efficiently and to be more profitable. Additional information on GreenShift is available online at www.greenshift.com.

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 CleanTech 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.


Contact:

GS CleanTech Corporation
Phone: 212-994-5374
Fax: 646-572-6336
Email: investorrelations@gs-cleantech.com
Web: www.gs-cleantech.com
Or
Investor Relations:
CEOcast, Inc.
Andrew Hellman, 212-732-4300
Or
Public Relations:
Walek & Associates
Deborah McCandless, 212-590-0523
Fax: 212-889-7174
E-mail: dmccandless@walek.com
Web: www.walek.com
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