Green Star Products increases revenue

Web exclusive posted Sept. 1, 2008 at 2:42 p.m. CST

California-based Green Star Products Inc. recently published its comparative financial statements for 2005-2007, revealing that in 2007 the company had revenues of $2. 49 million, a 60 percent increase over earlier estimates of $455,000.

Green Star Products began to research alternative energy sources in 1990. "We were into biodiesel when there was no biodiesel industry," Green Star Products President Joseph LaStella said. "We also have a very unique conversion process that no one else has-and we are the only company who manufactures our own facilities. We build and operate all of our own plants."

LaStella largely credits the company's financial success to its employees and strong presence in the biodiesel industry. "The people we have working at Green Star Products have been hand-picked, and all came from the same town in Montana," LaStella said, adding that the employees were chosen from one town to protect information about its conversion process.

To ensure security of its advanced technology, trade secrets and other intellectual property, LaStella said Green Star Products does not directly sell its plants or reactors. Instead, the company forms joint venture arrangements with customers who become its operating partners in each facility.

Speaking of the current obstacles of the biodiesel industry, LaStella believes his company has found the solution. "We knew years ago that there was going to be feedstock problems. We knew that algae was going to be the answer," he said. "The future is to make usable products-biodiesel, ethanol, electricity, and fertilizer from waste products-that's what we do," LaStella said.

Green Star Products has been involved in algae research for the past five years, according to LaStella. In 2007, the company built and operated one of the largest algae demonstration facilities in the world-a 40,000-liter (10,569 gallon) facility in Hamilton, Mont., that ran for nine months, which Green Star Products said successfully provided all the information and data required for commercial production.
Most recently, the company has focused on the design and engineering of biodiesel reactors and process control systems. In July, Biodiesel Magazine reported EcoAlgae USA contracted with Green Star Products' associated consortium of companies to construct an algae-to-biodiesel and next generation waste-to-energy complex in Missouri. To read the story, visit: http://www.biodieselmagazine.com/article.jsp?article_id=2606&q=Saline&category_id=19.