OAKDALE, June 4, 2013 (GLOBE NEWSWIRE) -- Green EnviroTech Holdings Corp. (OTC QB: GETH) is pleased to announce that GETH has entered into a regional development agreement with Irish company, Black Lion Oil, Limited. Black Lion focuses on energy technology and will source both capital and management for the GETH technology in a defined region within a contractually allotted time.
Green EnviroTech's CEO, Gary De Laurentiis stated, "The agreement with Black Lion brings additional resources and potential revenue to GETH. The agreement further allows to us focus on the execution of our core business plan which provides for a ten plant roll out in key markets in the United States. With the emphasis in Europe on green energy we anticipate measured success with quicker penetration to market of the GETH technology." Janez Potocnik, European Commissioner for the Environment said; "The new study of environmentally innovative technologies demonstrates that good business, job creation and environmental protection can go together and generate widespread benefits. This suggests that Europe has a strong niche in the green business, a niche which can promote competitive, resource-efficient and sustainable growth."
Black Lion has already begun discussions with potential joint venture partners in Ireland, the United Kingdom and Saudi Arabia.
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 pyrolysisfacilitates 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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Safe Harbor Statement:
GETH cautions that statements made in press releases constitute forward-looking statements, and makes no guarantees of future performances and actual results/developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the time statements are made.
CONTACT: For information, please contact: Constellation Asset Advisors, Inc. Jens Dalsgaard Phone: 415-524-8500
Source:Green EnviroTech Holdings Corp.