MOUNT ARLINGTON, N.J., Nov 09, 2005 -- BUSINESS WIRE

 

GreenShift Corporation (OTCBB: GSHF) today announced that Sterling Planet, Inc., the nation's leading retail renewable energy provider through the sourcing and sale of renewable energy certificates ("RECs") and a GreenShift portfolio company, executed an agreement with Consolidated Edison (Con Edison) Company of New York to provide renewable energy options to Con Edison customers in its service area.

This is a new way to support clean energy from electricity generators in New York State that use wind, water and bioenergy to create electricity. Con Edison is a regulated utility that serves an area that includes New York City (except for a small area of Queens), and most of Westchester County.

For as little as $5 per month, residential and nonresidential customers alike can support cleaner renewable electricity from New York State sources - and make a difference for the environment, for energy security and independence, and for sustainability. Customers choose how "green" they want to go - buying enough to cover the electricity use of a small, medium or large house or apartment.

The new Sterling Planet initiative is called NY Clean Choice(TM) and consists of 40% new wind, 30% small hydro and 30% bioenergy. The bioenergy component is from landfill gas, the natural byproduct of organic decay. The three options or purchase levels are as follows:

-- Option 1: 400 kWh @ $5 per month

-- Option 2: 800 kWh @ $10 per month

-- Option 3: 1,200 kWh @ $15 per month

"Sterling Planet is pleased to offer a new, clean renewable energy blend exclusively from New York State sources that is affordable, geared for any size house or apartment," said Mel Jones, Sterling Planet CEO and President. "We welcome this opportunity to offer customers in the Con Edison service area as a way to support locally produced energy."

NY Clean Choice(TM) is available to all who live in the Con Edison service area, including those who do not have a Con Edison account number because their electricity costs are bundled with other utility or rental costs. Sterling Planet charges a slight premium which helps cover the difference in price between New York-based cleaner renewable power and that of more polluting non-renewable conventional generation.

NY Clean Choice(TM) meets strict environmental standards and has earned certification from the Environmental Resources Trust (www.ert.net), a nonprofit organization based in Washington, D.C.

To enroll for NY Clean Choice(TM), residential and small business customers can visit the Sterling Planet web site at www.SterlingPlanet.com or call 1-877-457-2306.

About Sterling Planet

Sterling Planet is the nation's leading retail provider of solar, wind and other clean, renewable energy through direct sales and electric utility partnerships. Sales have created environmental benefit comparable to not driving 5.7 billion miles or taking 460,000 cars off U.S. roads. Founded in 2000, Sterling Planet was the first to offer Renewable Energy Certificates to every U.S. home and business as a way to support sustainable energy production that benefits the environment, the economy and society in general. Today, Sterling Planet has 28 utility partners nationwide in Connecticut, Florida, Massachusetts, New Jersey, New York, Rhode Island and elsewhere. The company is also exploring emerging clean energy markets, maintaining a focus on businesses, universities and clients seeking LEED credits for green building certification. www.sterlingplanet.com

About GreenShift Corporation

GreenShift Corporation is a publicly traded business development company (BDC) whose mission is to develop and support companies and technologies that facilitate the efficient use of natural resources and catalyze transformational environmental gains.

BDCs are regulated by the Investment Company Act of 1940 and are essentially publicly-traded equity funds where shareholders and financial institutions provide capital in a regulated environment for investment in a pool of long-term, small and middle-market companies through the use of senior debt, mezzanine financing, and equity funding.

GreenShift plans to use equity and debt capital to support and drive the value of its existing portfolio of companies and to make investments in a diversified mix of strategically compatible growth stage public and private businesses and technologies. GreenShift's current portfolio includes investments in the following environmentally proactive companies:

-- Veridium Corporation (OTC Bulletin Board: VRDM);

-- INSEQ Corporation (OTC Bulletin Board: INSQ);

-- GreenWorks Corporation;

-- Ovation Products Corporation;

-- Tornado Trash Corporation;

-- Mean Green BioFuels Corporation;

-- Ethanol Oil Recovery Systems, LLC;

-- GreenShift Industrial Design Corporation;

-- Sterling Planet, Inc.;

-- TerraPass Inc.; and,

-- Coriolis Energy Corporation;

-- TDS (Telemedicine), Inc.;

Additional information regarding GreenShift Corporation is available online at www.greenshift.com.

Safe Harbor Statement

This press release contains statements, which 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 GreenShift 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.

This presentation contains statements, which 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 GreenShift 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: GreenShift Corporation

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