GREENBELT TECHNOLOGY HELPS BIOFUELS & ENERGY SECURE OFFTAKE AGREEMENTS
19 October 2018 - 12:00AM
InvestorsHub NewsWire
GREENBELT TECHNOLOGY
HELPS BIOFUELS & ENERGY SECURE OFFTAKE
AGREEMENTS
To Receive TEXT ALERTS On Greenbelt
Resources TEXT "GRCO" To 522-36
Paso Robles,
CA -- October 18,
2018 -- InvestorsHub NewsWire -- Greenbelt Resources Corporation (OTC:
GRCO) (Greenbelt), the developer of a sustainable ECOsystem
model that transforms waste into
revenue generating bioproducts, today
announced that Biofuels and Energy, LLC
(B&E),
a New
Mexico-based project development
company planning to utilize
Greenbelt's proprietary technology
for its SLV Biopro
Project, has secured offtake
agreements in excess of 40% of the projected bio-ethanol production
of the Colorado project.
"The fact that Greenbelt's
technology is at the heart of this project has helped us to secure
the offtake agreements," said Richard Mason of B&E, adding "The
ECOsystem model of utilizing local regional wastes and low value
surplus materials as feedstocks ensures that our project will
produce a premium sustainable bioethanol that is highly desirable
by discerning customers."
The SLV Biopro Project
located in San Luis Valley, Colorado has progressed steadily since
being announced earlier this year. The total SLV Biopro
Project budget is estimated at $9.0 million, depending on final
location and production capacity, of which about $7.2 million is
allocated to Greenbelt's
system. This project is the first of three similar projects on
B&E's four-year time horizon and therefore potentially
represents in excess of $20.0 million in sales for
Greenbelt.
It was announced last month
that
Greenbelt
will
provide fee
based engineering consulting services to B&E during the
development phase of this project, which intends to utilize various
food wastes and surplus, including potato industry processing waste
and off-spec grains.
"Greenbelt
is committed to
assisting B&E throughout its development phase," says Darren
Eng, CEO of Greenbelt. "We look forward to working with our
customer to replicate the model and become a leading regional
source of bioethanol and biobased protein."
Greenbelt
is currently
raising funds for two other projects focused on producing
bioethanol for use in the cannabis industry
as extraction
solvent, using winery and brewery wastes as
feedstocks: PRECO and the California
BioEthanol Project.
Greenbelt recently
announced a profitable second quarter
, primarily the
result of a project for the Andrew J. Young Foundation,
cultivating duckweed as a feedstock
to produce
bioethanol and biobased protein concentrate.
About Greenbelt Resources
Greenbelt Resources
Corporation is an award-winning provider of automated, modular,
small scale sustainable energy production
systems, products
and processes that enable local cost-effective processing and
disposal of food, beverage and cellulosic waste to be converted
into commercially viable saleable consumer products such as bio
ethanol, protein concentrate and fertilizer.
Operating in
several business segments, Greenbelt provides value added
solutions to the cannabis, food, beverage and agricultural
industries. For more information visit www.greenbeltresources.com.
Forward-Looking Statements &
Safe Harbor
This document includes certain statements, predictions and
projections that may be considered forward-looking statements under
securities law. These statements involve a number of important
risks and uncertainties that could cause actual results to differ
materially including, but not limited to, the supply and demand for
biofuels, our ability to remain technologically competitive and
other economic, competitive and technological factors involving the
Company's operations, markets, services, products and
prices.
Contact:
Darren Eng, CEO
Greenbelt Resources Corporation
888-995-GRCO (4726 x 101)
darren@greenbeltresources.com
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