OAKDALE, May 31, 2013 (GLOBE NEWSWIRE) -- Green EnviroTech Holdings Corp. (OTC QB: GETH) announced today it has executed an agreement with Ebbros Energy Partners, LLC. "Ebbros." Ebbros has signed a crude oil outright purchase agreement with Phillips 66 Company to purchase approximately 206 barrels per day of GETH's plastics crude oil that is produced from recycling tires and mixed plastics back into high grade oil.
Green EnviroTech entered into an Oil Production Revenue Sharing Agreement with Ebbros Energy Partners, LLC in March of 2013. Ebbros obtained the agreement with Phillips 66 Company "ConocoPhillips Contract" to purchase approximately 206 barrels per day of oil produced by Green EnviroTech Holdings.
A copy of the agreement can be seen on Green EnviroTech's website here: http://greenenvirotech.com/wp-content/uploads/2013/05/Phillips-66-Contract-4-05-2013.pdf
About Green EnviroTech Holdings Corp.
Green EnviroTech Holdings (GETH) is an innovative technology company with a patent pending for recycling tires and mixed plastics back into high grade oil, suitable for blending into most products produced at a refinery.
The GETH Process to convert plastic and tires to oil uses electromagnetic pyrolysis to produce GETH Oil, carbon black, syngas, and steel. The use of electromagnetic pyrolysis facilitates faster processing while causing no environmental impact. A standard twelve system plant, utilizing 6 systems for plastic and 6 systems for tire conversion, produces approximately 25,000 barrels of oil per month. The company, headquartered in Oakdale, California, was founded in 2008 by Gary De Laurentiis, an industry veteran and award winning plastic recycling process designer.
Petrosonics, LLC is a privately held Nevada company. Petrosonics has a diverse internationally patented technology portfolio that include ultrasound assisted oxidative desulfurization and heavy oil upgrade. The technology is designed to meet worldwide low emission specification, which can be refinery based, desulfurization of multiple streams and also includes transmix and alternative "green oil" desulfurization processing. The technology has won the 2009 Financial News invention of the year for refinery processing.
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CONTACT: Constellation Asset Advisors, Inc. Jens Dalsgaard Phone: 415-524-8500
Source:Green EnviroTech Holdings Corp.