A grant award of $375,000 has been made through the Montana Board of Research and Commercialization to further develop GreenShift's algae bioreactor, it was announced today (5th January 2009). Together with match funding of $125,000 from the company the grant will go towards demonstrating the production of algae from an industrial source of carbon dioxide in Montana using GreenShift's technology.

David Winsness, GreenShift's Chief Technology Officer, said that "We are excited to have this opportunity as the grant funding provided by the state of Montana further demonstrates Montana's commitment to the development of alternative raw materials for fuels, chemicals and specialty products. While GreenShift's approach is distinct from other algae offerings, significant additional development work is required to realize commercial viability. We are glad to have earned Montana's support and we look forward to making a valuable contribution in this emerging field."