Green EnviroTech Holdings, Corp. Letter to Shareholders
JAMESTOWN, CA-(Marketwired - Feb 23, 2017) - Green EnviroTech
Holdings, Corp. (OTC PINK: GETH) is pleased to announce its
achievements in 2016 and the business outlook for 2017 and
beyond.
Last year was an extraordinary 12 months in the life of our
company. Prior to 2016, the GETH team was dedicated to perfecting
viable solutions for processing End of Life Tires and Waste
Plastics. Over several years the team never lost their focus on the
end game - to build a Processing Solution that would deliver profit
for the company and exceptional financial returns to our
shareholders.
In 2016, we turned the corner as we perfected a first generation
End of Life Tire Processing Solution that is financially viable and
ready for deployment. The last 12 months have been focused on
completing all of the complementary steps that are required to make
a project fundable, securing partners who can help to deploy our
solutions, and engaging with funding institutions who will finance
projects in the USA and around the world.
I joined GETH in 2016 as CEO and President of Smart Fuel
Solutions, a majority owned private subsidiary of GETH. I feel
enormously blessed to have arrived at the time when my talented
colleagues' hard work was coming to fruition. Our team has built
the platform upon which I now stand; we have reached this point
because of their dedication, fortitude and perseverance. We are set
to grow the company in 2017 and beyond. I have outlined below in
more detail our achievements in 2016 and the business outlook for
2017 and beyond. I am very proud to be the CEO of GETH and share
this letter with you.
Achievements in 2016: Focus - strengthening the foundations
GEN 1 End of Life Tire Processing Solution
1. Secured a process certification from an independent
engineering company 2. Confirmed the financial returns from our GEN
1 End of Life Tire Processing Solution 3. Completed engineering
designs of our technology for a 33,000 tons per year processing
plant 4. Entered into feedstock agreements and end product offtake
agreements, which mean that our GEN 1 solution is ready for
deployment 5. Engaged in discussions with several different funding
institutions to finance multiple projects in USA, in Mexico and
around the world.
Carbon Finishing Plant
1. Defined the strategy for a Centralized Carbon Finishing Plant
to service all of our USA Processing Plants 2. Completed
engineering design for the Carbon Finishing Plant 3. Purchased a
proven system for carbon finishing of reclaimed carbon black 4.
Reached agreement on a site in Ohio for the Carbon Finishing Plant
5. Obtained Letters of Intent for the off take of the products from
the Carbon Finishing Plant
GETH Management Team
1. Strengthened GETH team with the addition of Chris Bowers as
President and CEO; Gary De Laurentiis will continue as Chairman and
EVP Business Development 2. Appointed Jim Klein as VP Engineering;
Wayne Leggett as VP Finance; Nick Drobac as VP Project
Management
GETH Strategic Partners
1. Signed strategic partner agreements with BHP Engineering LLC
and Schneider Electric 2. Signed JV agreement with MEAH Global to
access project capital and new technologies 3. In discussions with
Impulsa Business Accelerator to develop projects in Mexico, Central
and South America
Financial strength
1. Converted $2,748,683 of debt into equity, of which $2,433,278
was converted @ $0.50 per share 2. Maintained low cost of
operations during development stage 3. Maintained public filings on
a timely basis 4. Management continued to fund the company in 2016
and made a major contribution to the acquisition of Carbon
Finishing Plant equipment and engineering
I am very pleased with the progress we have made in 2016; we
have laid foundations that we believe will let us build plants in
the USA and in Mexico and begin to generate revenues in 2017. We
are particularly pleased to have achieved the process
certification, secured feedstock supply and sourced end product
offtake agreements as these are the ingredients that enable funding
of a Processing Plant. The GETH team and our strategic partners
have done a superb job of advancing the Company strategy over the
last 12 months.
Gary De Laurentiis, GETH Chairman added, "I am very proud of the
team and what we have achieved in the last 12 months. This is the
culmination of many years of hard work and we are on the cusp of
achieving revenues and profits for GETH. I would like to thank all
of our long term supporters and partners who kept faith with the
Company during the tough times we have endured; you have helped us
to reach this important point in the evolution of GETH."
Business Outlook for 2017: Set the stage for growth It is
critically important that we continue to make progress in 2017 and
our team is committed to achieving our goals. This begins with a
rigorous focus on what we need to achieve in the next 12 months.
Our goals for 2017 are listed below:
1. Generate revenue 2. Build a Carbon Finishing Plant 3. Build a
minimum of one GEN 1 End of Life Tire Processing Plant 4.
Strengthen the organization in preparation for growth in 2018
Beyond 2017: Achieve Market Leadership As we look forward to
2017 and beyond, I am very optimistic about both the short term and
long term business outlooks for GETH. Processing of End of Life
Tire feedstock represents a multi-billion dollar revenue
opportunity. Our 'hub and spoke' and 'copy exact' business models,
combined with the deals we are discussing with our funding partners
mean that we will be able to scale very quickly. Our goal over the
next 5 years is to become the global market leader in processing
End of Life Tires. We will pursue an upgrade and generational
development strategy to keep ahead of the competition and to
maintain and improve the excellent financial performance of GETH
plants.
As we deploy our Processing Plants around the world we will look
for opportunities within the local communities to stimulate
additional economic activity and address environmental and social
challenges. Through this approach we will not only clean up the
environment but also work to alleviate poverty.
In closing, I am honored to work at this company and with its
outstanding people. What they have accomplished during often
difficult circumstances has been extraordinary. I would like to
publicly recognize their dedication and efforts. I would also like
to thank you, our shareholders for your continued support and
faith; without you we could not have reached this point. To quote
Winston Churchill, "This is not the end, it is not even the
beginning of the end; but it is the end of the beginning." We are
on the cusp of achieving something incredible.
Sincerely,
/s/ Chris Bowers President and CEO Green EnviroTech Holdings
Corp.
About GreenEnviroTech Holdings Green EnviroTech Holdings, Corp.
(GETH) is a pioneer in sustainable development. Our mission is to
find and implement practical, economical solutions that will clean
up the environment. Our technologies will convert waste into
valuable products and help to protect the planet.
For more information on GETH: www.greenenvirotech.com
Forward-Looking Statements This letter contains forward-looking
statements that relate to future events, including our ability to
raise capital, or to our future financial performance, and involve
known and unknown risks, uncertainties and other factors that may
cause our actual results, levels of activity, performance, or
achievements to be materially different from any future results,
levels of activity, performance or achievements expressed or
implied by these forward-looking statements. You should not place
undue reliance on forward-looking statements since they involve
known and unknown risks, uncertainties and other factors which are,
in some cases, beyond our control and which could, and likely will,
materially affect actual results, levels of activity, performance
or achievements. Any forward-looking statement reflects our current
views with respect to future events and is subject to these and
other risks, uncertainties and assumptions relating to our
operations, results of operations, growth strategy and liquidity.
We assume no obligation to publicly update or revise these
forward-looking statements for any reason, or to update the reasons
actual results could differ materially from those anticipated in
these forward-looking statements, even if new information becomes
available in the future.
For a discussion of these risks and uncertainties, please see
our filings with the Securities and Exchange Commission. Our public
filings with the SEC are available from commercial document
retrieval services and at the website maintained by the SEC at
http://www.sec.gov.
CONTACT INFORMATION Public Relations and Media Contact: LCG
Headquarter Office 702.333.4886 www.lcginfo.com
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