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NewswireTODAY - /newswire/ -
Winston-Salem, NC, United States, 2012/03/19 - SmallCapReview, A leading site for news and information on small caps, penny stocks and microcaps is adding Green EnviroTech (GETH) to its list of stocks "On the Radar" - SmallCapReview.com.
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Green EnviroTech (GETH) is a plastics and tires recovery and recycling company which removes contaminants from recovered plastic recaptured from end of life automotive vehicles shredded for their metal.
GETH will receive raw material from its suppliers in three forms – shredder residue, discarded AG plastics and scrap tires. The Company’s main source for shredder residue is from metal recycling companies; its main source for scrap tires is from tire recycling and tire companies and it receives AG plastics mainly from farmers and third party recyclers.
GETH processes these recovered materials to produce compounded plastic resin and commercial grade light sweet crude oil as end products that it sells at market prices. 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.
The Company has created two subsidiaries: Green EnviroTech Riverbank, LLC, and Green EnviroTech Wisconsin, LLC, in anticipation of opening two plants in Riverbank, California and Sheboygan, Wisconsin respectively.
GETH Investor Highlights
Announced they have signed a letter of intent for the creation of a Joint Venture between GETH and ACG Consulting, LLC for the purpose of owning and developing Shredder Residue Recycling Plants in the United States.
As part of the JV agreement, ACG will provide the capital to the JV for the plant projects, approximately $30 million for each site, and GETH will provide the material, the technology to recycle and convert using the "PlastExtract" process, management experience and all sales of the plant produced crude oil and compounded plastic resin.
Each plant GETH builds will create over 140 direct US jobs for each 35,000 tons of plastic processed through the plant as well as many more related indirect US jobs. The plants will operate 7 days a week and 24 hours a day with 2 shifts per day. This volume translates into approximately 120,000 barrels of oil and approximately 50 million pounds of compounded plastic resin annually.
The JV with ACG will fund GETH's second planned plant and all additional plants going forward. With the amount of Shredder Residue that currently ends up in landfills each year being approximately 4 million tons, which equates to 920,000 tons of reusable plastic, GETH could potentially build 40 of these plants. Working with ACG using the EB-5 program is a perfect vehicle for GETH to accomplish this. Each plant has the potential to produce approximately $60 million in revenue per year. The companies have identified several locations in the northern Midwest where unemployment is among the highest in the US."
Green EnviroTech Holdings is "CPR" for the US Economy. The company's focus has been to Create new US jobs, Produce alternative energy and Reuse precious natural resources that have been going to landfills while creating shareholder value.
GETH has established a five year partnership agreement with Agilyx Corporation. GETH will use Agilyx’s technology at both the Riverbank and Sheboygan locations. Agilyx’s technology will be used in stage four of GETH’s PlastExtract system.
To date the Company has sourced over 30,000, 000 pounds of used agricultural plastics.
In total, GETH's PlastExtract process reduces the amount of Shredded Residue going to landfills by up to 40% creating considerable cost savings for metal recyclers and dramatically reducing the volume of materials going to landfills.
GETH has arranged for 100% of its oil produced to be purchased by its strategic partner.
To learn more about GETH visit SmallCapreview.com. Features available at SmallCapReview.com include in-depth profiles of select Small-Cap/Penny Stocks as well as the most comprehensive and up to date news available on the small-cap market.
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