GETHE Is Reaching Milestones as Follows
19 September 2011 - 7:16PM
Marketwired
Green EnviroTech Holdings Corp. (www.greenenvirotech.com) (OTCBB:
GETHE) and its wholly-owned subsidiary, Green EnviroTech Corp., a
waste plastics recovery, separation, cleaning, and recycling
company, today released a statement from CEO and Chairman Gary M.
De Laurentiis commenting on his positive outlook on the Company's
progress.
"The company has made significant progress with Magic Bright, a
plastic commodity broker based in Hong Kong which is now a wholly
owned subsidiary of Green EnviroTech. In addition to providing the
Company with a profitable, revenue generating subsidiary, this
acquisition will also provide distribution outlets in Asia.
"Our next anticipated milestone is the opening of our plant in
Riverbank, California. Once completed, the plant will process
agricultural plastic film and produce sweet crude oil that would be
sold through our contract with Agilyx. The City of Riverbank is
offering employment grants and has introduced sources for State
loans and CPCA bonds.
"Our planned Sheboygan, Wisconsin plant is our next area of
focus. Once opened and operational, this plant will utilize our
licensed technologies and will produce mainly recycled plastic,
known as 'TPO,' along with sweet crude oil. The oil will be sold to
Agilyx through its contract as per the Riverbank plant. The main
plastic product, TPO, will be sold to Ravago who has entered into a
letter of intent with the Company to process the recovered TPO from
the plant and market it through their various sales channels.
Again, this is a major milestone for the Company to be able to work
with a global plastics company like Ravago (www.ravago.com),"
stated CEO and Chairman Gary M. De Laurentiis.
GETHE will make best efforts to file its quarterly report with
the Securities and Exchange Commission before the end of
September.
ABOUT GREEN ENVIROTECH HOLDINGS CORP. Green EnviroTech Holdings
Corp. is a plastics recovery and recycling company which removes
contaminants from recovered plastic recaptured from end of life
automotive vehicles shredded for their metal. Green EnviroTech
Holdings Corp. processes this recovered plastic to produce
compounded plastic resin and light sweet crude oil as end products.
Its unique patented process significantly reduces the amount of
shredder residue going to landfills by up to 40 percent creating
considerable cost savings for metal recyclers while also
dramatically reducing the volume of materials going to the
landfill. The Company has developed long term strategic
partnerships that allow it to receive feedstock at near zero cost
and has also leveraged its patented technology to ensure guaranteed
sale of 100% of its production output thereby creating a
sustainable and high margin business model. A valuable by-product
of the Green EnviroTech process is commercial grade, sweet crude
oil that will also be sold to industry at market prices. For more
information please visit www.greenenvirotech.com.
Safe Harbor Statement: This press release contains
forward-looking statements. Any statements in this news release
that are not statements of historical fact may be considered to be
forward-looking statements. Written words, such as "may," "will,"
"expect," "believe," "anticipate," "estimate," "intends," "goal,"
"objective," "seek," "attempt," or variations of these or similar
words, identify forward-looking statements. By their nature,
Forward-looking statements and forecasts involve risks and
uncertainties because they relate to events and depend on
circumstances that will occur in the near future. For a discussion
of these and further risks and uncertainties, please see our
filings with the Securities and Exchange Commission. We file
annual, quarterly and special reports, proxy statements and other
information with the SEC. You may read and copy any reports,
statements or other information that we file at the SEC's public
reference room at 100 F Street, N.E., Washington, D.C., 20549.
Please call the SEC at 1-800-SEC-0330 for further information on
the public reference room. Our public filings with the SEC also are
available from commercial document retrieval services and at the
Web site maintained by the SEC at http://www.sec.gov.
Gary M. De Laurentiis Email Contact
Green Envirotech (CE) (USOTC:GETH)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Green Envirotech (CE) (USOTC:GETH)
Historical Stock Chart
Von Jul 2023 bis Jul 2024