Greenshift Corp. (OTCBB: GERS) doubled in price to two-100ths of a cent late Monday, on word the company had been awarded a new corn oil extraction patent. Volume for the stock topped 170 million shares.

The waste management company announced through a release dated July 25 that the U.S. Patent and Trademark Office (“USPTO”) has issued a notice of allowance for patent application number 11/241,231, titled “Method of Processing Ethanol Byproducts and Related Subsystems” (the “’231 Patent Application”).

To further strengthen its legal position, GreenShift requested that the USPTO withdraw an earlier notice of allowance for the ‘231 Patent Application in order to allow the USPTO to further examine the ‘231 Patent Application in light of all of the alleged prior art materials and invalidity arguments submitted by all of the defendants in GreenShift’s current patent infringement litigation, including those materials and arguments submitted in the litigation by ICM, Flottwegg, Westfalia, Cardinal Ethanol and Big River Resources.
Greenshift management was not available for comment.

GreenShift Corporation, based in Alpharetta, Georgia, develops and commercializes clean technologies that facilitate the more efficient use of natural resources.