SOURCE: Green EnviroTech Holdings Corp.
RIVERBANK, CA--(Marketwire - Oct 16, 2012) - Green EnviroTech Holdings Corp. (PINKSHEETS: GETH) announced today that the tire and plastic to oil samples that were approved in May 2012 precipitated the pricing at the "Brent Crude" spot price. One oil company stated that lab result qualities of all GETH's oil samples were well within their specifications for their refinery.
CEO Gary De Laurentiis, stated, "This is very important step for GETH. It was necessary to the next phase of our planning to firmly establish the quality of what we are capable of producing. The result is 'Brent Crude' pricing that averages $18 per barrel higher than the NYMEX spot price. Our next step identifies the location of the first plant, apply for permits, and work with investment opportunities to fund the project. We are in the due diligence phase with several funding sources.
"The Company's immediate effort is to identify the fastest route to cash-flow operations. For the past 4 years, we've tested various ways to convert no-value, difficult to recycle products, including shredder plastic, with a view to convert that material into compounded plastic resin and oil. Given the high level quality of oil we have achieved, which was well above our expectations, we will now focus on oil conversion only."
De Laurentiis also stated, "We have updated our website, reflecting the Company's new focus and corporate milestones. We expect our progress to be consistent over the ensuing months. GETH is in the final stages for its first plant after years of technology development. This is a very exciting time to be the Company's CEO, witnessing my team's years of dedication to the idea of alternative oil sources, cleaning up our landfills and creating US jobs."
For further information about this release and the Company, visit www.greenenvirotech.com and/or email email@example.com and/or call Aimee De Laurentiis, #209-881-3532.
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.