OAKDALE, July 24, 2014 (GLOBE NEWSWIRE) -- Green EnviroTech Holdings Corp. ("GETH" ) (OTCQB: GETH) announced today that the company has signed an Authorized Representative Agreement with EcoEnergy Ventures Pty Ltd. ("EEV") of Melbourne, Australia through Black Lion Oil Limited (BLOL), a company which GETH has a service and management fee agreement. EEV is an Australian-owned company that develops Thermal Waste to Energy Projects, diverting waste from landfills to create clean energy sources.
Gary De Laurentiis, CEO stated, "We are pleased to announce the agreement with EcoEnergy Ventures Pty Ltd ("EEV"), which further expands our development plans in various countries worldwide. GETH has been working with EEV for the last six months developing a business plan for specific areas. EEV looked at similar technology and chose GETH based on the quality of our oil and the cost and efficiency of the technology.
The agreement provides that GETH will support EcoEnergy Ventures with opportunities to employ the GETH Oil Conversion Technology in the Tianjin region of China. The agreement for representation for GETH is though Black Lion Oil (BLOL). GETH/BLOL will engage the services of EEV to introduce opportunities, projects, qualified investors and financing sources to GETH/BLOL. In addition, EEV could provide GETH with the financial and operating partners capable of owning and operating GETH Systems in specific projects in the "Tianjin Region" in China under technology licensing and other support service agreements with GETH/BLOL.
The City of Melbourne has been a "sister city" to Tianjin since 1980 and has developed a very strong relationship with the Tianjin's leaders. As a member of the City of Melbourne's Clean Technology Leaders delegation to Tianjin, EEV was able to develop strong relationships with government and industry leaders in the Tianjin region. These relationships should generate a great deal of confidence that the GETH project will be given consideration by the local governments.
De Laurentiis added, "We are also in discussions with EEV to represent GETH/BLOL in Australia and expect the parameters of the agreement finalized within the next few weeks. EEV is in the process of preparing an investment prospectus for six proposed plants in Australia. EEV will focus on tires as feedstock, which is currently a huge problem in their country. The first plant will be in Perth, starting with two systems. GETH is extremely excited to be part of the first waste tire to oil plant in Australia."
Dylan Nichols, Director of EcoEnergy Ventures, commented: "We are very excited to be working with GETH and Black Lion to develop clean energy projects in Tianjin and Australia. We see the GETH solution as best in class in regards to its efficiency, modularity and end products. It is the perfect solution for the Australian tire market, which is desperate for solutions for its increasing environmental issue".
Green EnviroTech Holdings Corp.
Green EnviroTech Holdings (GETH) is a green innovative conversion technology company, which holds a patent pending process for converting waste tires and mixed plastics, destined for landfills, into high-grade oil. The company has received a contract to purchase GETH oil from ConocoPhillips (NYSE: COP). The GETH process helps solve America's environmental issues. Each GETH system converts approximately 545,000 tires per year into 17,220 barrels of oil and by-products (Syngas, Carbon and Steel). The process also converts 12,000,000 pounds of mixed post-consumer plastics per year, not currently recycled, and produces 32,500 barrels of oil and by-products. The GETH process produces no emissions.
Blacklion Oil LTD.
Blacklion is an Irish based company with its primary focus on emerging green technology that has international applications. Blacklion's first investment was the acquisition of the non-US rights for the Green EnviroTech plastic/tire to oil technology. Blacklion is currently partnering with regional technology companies in strategic markets to expand the GETH footprint.
Blacklion Oil LTD.
92/93 St. Stephens Green
Dublin D2 Ireland
+353 (1) 4283534
EcoEnergy Ventures Pty Ltd.
The core of EcoEnergy Ventures (EEV) is led by a passionate management team with extensive experience in energy and commercial project development. EEV's directors are keen environmental advocates, have over two decades of commercial experience in Australia's energy and environmental industries, and have developed and delivered energy projects nationally.
EEV's people include experienced engineers, scientists, business and project managers, all of whom hold advanced degrees and are leading experts in the development and commercialization of Thermal Waste to Energy (TWtE) projects.
Flexibility, versatility, a wide knowledge base, and access to a wide variety of solution set EEV apart from our competitors. EEV are pioneering the TWtE industry in Australia, bringing the latest international innovations in TWtE technology. EEV is a member of the Clean Energy Council, Waste Management Association of Australia and the Australian Institute of Energy.
EcoEnergy Ventures pty ltd
1/349 Collins Street
Melbourne, VIC 3000
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Source:Green EnviroTech Holdings Corp.