Carbonics Capital Corporation (Carbonics), formerly GreenShift Corporation, develops renewable energy projects that facilitate efficient use of carbon in energy supply chains. During the year ended December 31, 2008, the Company’s development activities involved evaluation of a number of different chemical and other technologies designed to separate carbon dioxide from exhaust for conversion into value-added carbonaceous products. The Company is a party to a technology commercialization agreement with GreenShift Corporation (GreenShift), pursuant to which GreenShift has agreed to provide commercialization support services and access to GreenShift's rights to sell and use a biomass gasification technology in fields of use outside of the corn ethanol industry.