Greenbelt Resources Signs Letter of Intent With Purnol for Bioethanol Distribution
Purnol to distribute bioethanol produced by Greenbelt’s California BioEthanol Project
PASO ROBLES, Calif., June 28, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Greenbelt Resources Corporation (OTC:GRCO) (Greenbelt), the developer of a sustainable ECOsystem model that transforms waste into revenue generating bioproducts including bioethanol, today announced that it has signed a Letter of Intent (LOI) with Purnol, a California-based distribution company. Purnol plans to purchase, brand and resell bioethanol produced in Greenbelt’s California BioEthanol Project which uses proprietary technology to convert local brewery and agricultural waste into various biobased products including bioethanol and high protein animal feed. Purnol will sell the bioethanol under its own brand as an eco-friendly high-quality premium extraction solvent.
“After extensive market research, we have chosen Greenbelt’s bioethanol as the source for our Purnol brand,” said Purnol CFO Les Mood. “Greenbelt’s bioethanol is the most sustainable ecofriendly ethanol we can find on the market. Moreover, Greenbelt’s patent pending membrane dehydration technology enables us to sell a high quality, extremely high-proof ethanol extraction solvent at competitive prices.”
“Purnol recognizes the unique benefits and value of Greenbelt’s bioethanol and through our negotiations they have demonstrated the intent to leverage this value into the premium brand of the Purnol product,” said Greenbelt CEO Darren Eng. “Purnol also demonstrated that it has the right relationships in the target markets that stand to benefit most from the bioethanol we produce. Moreover, their confidence in Greenbelt, as expressed through their commitment to assist with increasing our production capacity when their sales’ pipeline exceeds current capabilities, will result in a long and mutually rewarding relationship.”
The LOI establishes the intent for all bioethanol produced by Greenbelt’s California BioEthanol Project to be purchased and resold under the Purnol brand. Importantly, the LOI also establishes Greenbelt as Purnol’s exclusive supplier of bioethanol.
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
© 2018 GlobeNewswire, Inc. All Rights Reserved.
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