OAKDALE, May 15, 2014 (GLOBE NEWSWIRE) -- Green EnviroTech Holdings Corp. (OTCQB: GETH) CEO Gary De Laurentiis and COO Lou Perches visited the Chinese gasification manufacturer/partner who assembled a system for demonstration purposes for its investor groups. The presence of these groups marked extraordinary strides toward company goals in the areas of funding and client relations. These groups had requested a "due diligence" demonstration of the plant and all of its processes. The trip was structured for the demonstration to take place over the course of one week, with a different group visiting each day. This allowed for the management team to exhibit their operational processes and help each group grasp a better understanding of our breakthrough technology.
Gary De Laurentiis stated: "We made a trip to visit the manufacturer's production plant in February of this year. We met with the manufacturer's executive management team and discussed several strategic business opportunities. During our weeks visit, the manufacturer provided a demonstration of the process utilizing both plastic and tires to investors from the UK and China. The system operated for six days, for 24 hours a day. We had our approved certificated lab "Intertek" present at the plant to observe the process. Two of the groups who visited for final due diligence were Black Lion Oil LTD and Coast Northwest. The conducting of the demonstration was vital for the finalizing of our future business ventures. It was a very successful trip for all parties involved."
De Laurentiis added: "From this trip the UK group has completed their due diligence and is now on a fast track to a final agreement with us. Additionally, the four groups from China generated a great degree of interest in our environmentally friendly technology. We anticipate receiving MOU/Letters of Intent from the four Chinese groups."
Having our certified lab Intertek present for this demonstration proved key in our validation of the oil test results received from the plastics and tires. They were able to secure chain of custody and provide the investment groups with data collection for their review and reference."
About: Green EnviroTech Holdings Corp.
Green EnviroTech Holdings (GETH) is a green innovative technology company with a patent pending process for recycling waste tires and mixed plastics back into high-grade oil, suitable for blending into most products produced at a refinery. GETH Oil conversion technology converts plastic and tires to oil using electromagnetic induction pyrolysis and produces oil, carbon black, syngas, and steel. The use of electromagnetic induction pyrolysis facilitates a faster and stable process while causing essentially no environmental impact.
About: Coast Northwest Management, LLC (COAST)
COAST was founded in 1981 (form of entity revised in 1998) and has provided private investment banking and executive management services to a wide range of businesses from emerging and growth stage operating companies to major established companies. COAST and its associates have developed operating alliances with a network of diverse professionals in the domestic and international markets and draws from such network to serve its clients.
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Source:Green EnviroTech Holdings Corp.