SALT LAKE CITY, UT , April 25, 2016 (GLOBE NEWSWIRE) -- Today the President of Green Star Products, Inc. (PINKSHEETS: GSPI), Joseph LaStella, reviewed the progress of the Company made in 2015 and assesses the company's outlook for 2016.
Mr. LaStella stated, “In order to reduce our expenses and increase our exposure to foreign markets the Company adopted a new business strategy wherein GSPI would license other green companies to sell our products and these companies would reciprocate allowing us to sell their green products through GSPI. This is a long term strategy to increase our domestic market and enter international markets without increasing the Company’s financial expenditures. This has worked especially well for GSPI in successfully reducing our operating expenditures by 52% and increasing our profit margins by over 27%.”
GSPI has engineering expertise, advanced technologies and products which span several industries. Therefore, we have many opportunities to team up with several organizations to pursue mutually beneficial markets for our businesses, as follows:
Our lubrication and cleaning products for the firearms and machine shops industries are sold by Modern Spartan Systems (www.modernspartansystems.com) and also see the TVT Green website (www.tvtgreen.com). These superior multiple lubrication products have begun to impact several industries. The websites have multiple videos that clearly indicate the advantage of our nano-products. These products have been sold to many military, government and industrial organizations. Customers, including manufacturers, have been convinced by conducting their own certified lubricant tests which have been very similar to the impressive website video demonstrations.
GSPI is presently delivering product to the USA and China and expects 2016 to be a banner year for these products. Green Star is in the process of expanding the production facilities for TV Green products in anticipation of larger orders in 2016.
GSPI as Engineering Consultant and Technology Provider
GSPI has rendered consulting services for several companies including an electric car manufacturer and a microalgae production company. In 2015, GSPI built and operated, under contract, a 70,000 liter premium showcase algae production facility located near South Las Vegas Boulevard in Las Vegas, Nevada.
The successful results of this demonstration facility have warranted an expansion by owners in Mexico who furnish premium organic fertilizers for the farming sector. GSPI will continue to play an important role as engineering consultant and technology provider for this operation in Mexico.
GSPI has also been offered an opportunity to build and operate algae facilities in China from Chinese representatives who have visited the demonstration facility in Las Vegas. We will continue to negotiate our business strategy position for this opportunity.
Alternate Fuel Industry
In February 2014, the President of GSPI received a high-tech loop reactor patent (US Pat. #8648209). The loop reactor is the backbone of highly efficient biodiesel plants manufactured by Green Star Products. Most present day biodiesel production systems require up to three hours and three different processes to convert the various feedstock oils through a transesterification process to produce crude biodiesel. The loop reactor does all these processes in one step and in less than five minutes. Although the biodiesel industry in the United States has waned because of the continuing high cost of feedstock and low fuel oil prices, this is not true in many foreign markets. These markets are searching for long term solutions to satisfy the demands for renewable energy and reduced carbon footprint. GSPI continues to occupy a respected position in this industry as a premium biodiesel provider and continues to receive inquiries from foreign countries that are interested in the future of the biodiesel production industry.
Green Star is also marketing a variety of advanced coatings (nano-coatings) which offer significant thermal resistance and strong rust protection for industrial applications. These products offer huge energy savings and long term infrastructure protection. The Company has participated in successfully completing a four building project at an important United States military facility in the past. At the same time, we have concentrated heavily on introducing these products into China and other Asian markets. The Chinese marketplace has been difficult to break into because they do not accept most of the test work done by outside entities. GSPI has had an office in Beijing for several years, which has integrated both private firms and government agencies to bridge this gap. The Company has been successfully completing all of the required tests in China. GSPI has been delivering minor orders to China and recently has participated in a significant delivery of product to a major Asian client through our China representatives. GSPI anticipates much larger orders in 2016 through the completed successful test and demonstration program which we have diligently pursued during the past couple of years in China.
In conclusion, Mr. LaStella and GSPI expect 2016 to be an exciting technological year for Green Star and we fully expect that we have emerged into a profit producing mode directly related to our new business strategy. The year 2015 was the first year to produce a net profit (although modest) since our revenue producing years in 2007 and 2008 before the economic decline in the United States and world markets.
About Green Star Products
Green Star Products, Inc. (PINKSHEETS: GSPI) is an environmentally friendly public company dedicated to creating innovative and cost effective products to improve the quality of life and the environment. GSPI and its consortium are involved in the production of green sustainable goods including renewable resources such as algae based biodiesel, cellulosic ethanol and other clean-burning biofuels, as well as other green products including lubricants, cleaners, coatings, additives and devices that reduce emissions and improve fuel economy in vehicles, machinery and power plants. For more information please visit http://www.gspi.com, email us at firstname.lastname@example.org or call us at 1-800-741-7648 and 1-800-340-9784.
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, new products and technological changes, dependence on third-party suppliers, and other risks detailed from time to time in the company's periodic filings.
Green Star Products, Inc.
Source:Green Star Products, Inc.