Greenbelt's Testing Facility to become Commercial Production PLANT
21 Febbraio 2018 - 1:20PM
InvestorsHub NewsWire
Greenbelt's Testing Facility to become Commercial
Production PLANT;
"California BioEthanol Project" designed to
meet the growth of local protein and ethanol extraction
needs.
Paso Robles, CA -- February 21,
2018 -- InvestorsHub NewsWire
-- Greenbelt Resources
Corporation (OTC:
GRCO) (Greenbelt) has announced Phase 1 of
the "California BioEthanol
Project," a
three-phased initiative that will convert Greenbelt's Commercial
Scale Testing Facility into a commercial-scale production
biorefinery. Once Phase 1 is completed, the biorefinery will
produce approximately 1.37 million pounds of protein concentrate
and 75,000 gallons per year of bioethanol. The total estimated
investment for the California BioEthanol
Project is
$3.25 million with approximately $440,000 allocated to complete
Phase 1, expected to commence during second quarter
2018.
"There is a
growing demand globally for locally sourced protein and bioethanol
with low environmental impact," says Darren Eng, Greenbelt's CEO.
"Greenbelt is quickly becoming a preferred partner because our
patented ECOsystem model is founded on a
community-scale concept that's even more environmentally friendly
than organic. We transform unintended food waste from local
businesses, such as breweries and wineries, and produce
bioproducts, such as amino acid rich protein concentrates to be
sold to local animal producers, and bioethanol to be sold to the
local cannabis industry for use as an extraction tool."
Greenbelt
has established substantial support and commitment from local
businesses including food waste producers, yeast protein customers
and bioethanol customers. For example:
- Food Waste Producers: Greenbelt has
relationships with local breweries including BarrelHouse
and Firestone
and wineries including CCWS and PRWS, all of whom send
or have
sent their waste to
Greenbelt for processing in the
existing facility. Use by Greenbelt is
preferred over other less environmentally friendly and more costly
options not utilizing the ethanol content and requiring
transportation over longer distances.
- Yeast Protein Concentrate: Local animal feed providers
are looking to purchasing Greenbelt's yeast and other protein
concentrates for sale at $0.40 to $0.60 per pound as compared to
$0.03 per pound for other more traditional feed uses.
- Non-fuel Bioethanol: Greenbelt has relationships
with NCMBiotech
and
Puration
who have
approved the use of the company's bioethanol as the preferred
extraction solvent. The cannabis industry typically pays about
$10.00 per gallon pre-tax for extraction ethanol as opposed to
$1.60-$1.80 fuel ethanol rack prices.
"This
project has us particularly excited because when the production
facility goes online, we'll begin generating sales within the first
eight weeks," Eng notes. "This will demonstrate how community-scale
models based on our technology generate a high rate of return,
similar to what the AgTech industry has seen with
larger projects."
When
Phase 2 begins, Greenbelt will add a second production system
followed by Phase 3 that will expand the production capacity of
Phase 1 and reduce cost of per gallon production. A portion of the
funding for Phase 1 has been received with additional funding under
commitment or in negotiations.
According to Transparency
Market Research, by 2020 non-fuel ethanol uses could rise to nearly
$21.0 billion. One the cannabis front, New Frontier Data estimates
that sales will reach $24.5 billion by 2025 and author Kenneth
Morrow in The Extraction Evolution writes that 90 percent of
all cannabis produced and sold in the future will be processed and
extracted. California's cannabis industry alone is projected
by Arcview Market Research to be over
$10.0 billion annually.
# # #
About Greenbelt Resources
Greenbelt
Resources Corporation is an award-winning provider of sustainable
energy production systems focused on delivering modular solutions
that enable the localized processing of locally generated waste
into locally consumed products. Greenbelt designs, develops and
implements technology that makes the production of advanced biofuel
reliable, practical and efficient. Controlled by proprietary
automated controls, Greenbelt's small-scale, end-to-end modular
systems convert food, beverage and other cellulosic wastes into
commercially viable advanced biofuels (bio-ethanol), animal feed,
fertilizer and filtered water. For more information
visit www.greenbeltresources.com.
Forward-Looking Statements
& Safe Harbor
This document includes certain
statements, predictions and projections that may be considered
forward-looking statements under securities law. These statements
involve a number of important risks and uncertainties that could
cause actual results to differ materially including, but not
limited to, the supply and demand for biofuels, our ability to
remain technologically competitive and other economic, competitive
and technological factors involving the Company's operations,
markets, services, products and prices.
Contact:
Darren Eng,
CEO
Greenbelt
Resources Corporation
888-995-GRCO
(4726 x 101)
darren@greenbeltresources.com
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