Green Star Products, Inc. and its Consortium today announced that they would be canceling the auction of their proprietary algae growth biotechnology national licensing rights which was scheduled to go into auction on September 9, 2010. Please see press release dated March 10, 2010 titled "Green Star Consortium to Offer Game Changing Biotechnology on Wall Street."
Green Star's President, Mr. Joseph LaStella, stated, "The auction was canceled because Green Star Products and its Consortium has entered into final negotiations to build the largest closed vertical algae bioreactor in the world here in the United States (initial phase planned for 10,000,000 liter continuous culture). The auction on September 9th was to offer the algae growth biotechnology for the United States only. The plans to auction this technology in other countries will still proceed as planned."
Mr. LaStella also stated, "The auction of the U.S. technology rights may be postponed indefinitely pending the outcome of the final negotiations to build the world's largest algae bioreactor."
Source : Press Release
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