Green Star Products is an environmentally friendly company focused on producing renewable clean-buring biodiesel and other products such as lubricants, additives and devices that reduce emissions and enhance fuel economy in vehicles, machinery and power plants.
The Company was one of the first to begin researching alternative energy sources in the 1990s. After a comprehensive period of R&D, Green Star Products now has advanced its technology towards the commercialization and mass production stage. The Company has already established multiple pilot and commercial biodiesel processing plants and has customized its technology to work with an array of feedstock solutions.
Last month, Green Star Products entered a contract with Biotech Research Inc. (BTR) to begin initial preparation and the gathering of materials for the construction of a 100-acre commercial algae facility. The construction stage is expected to begin in March 2008. The building will be used to feed an algae-growing facility with CO2 emitted from a biodiesel plant’s boilers.
The analyst who completed the report stated in conclusion, “Applying management’s 2008 revenue forecast of $10 million to the clean energy peer group’s 2008 P/S multiple of 6.60x, we derive a target price of $0.18 for GSPI’s shares. Taking into account the Company’s increasing revenue visibility, progress in advancing its algae-to-biodiesel conversion technology and prior successes, we are initiating coverage of GSPI with a Speculative Buy rating and a $0.18 price target.”
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