Carbon Green Inc.
OTC Bulletin Board : CGNI

Carbon Green Inc.

April 13, 2010 09:01 ET

Carbon Green Inc. Files 8K/A-1 and Provides Update on Operations

LAS VEGAS, NEVADA--(Marketwire - April 13, 2010) - Carbon Green Inc. ( (the "Company" or "Carbon Green") (OTCBB:CGNI) an innovative tire recycling company, is pleased to announce that 8-K/A-1 corporate disclosure together with pro-forma condensed consolidated statements at June 30, 2009 and the six month period of December 31, 2009 for the Company and audited financials for Greenwood Commerce Ltd., the company's wholly owned subsidiary, were filed with the Securities and Exchange Commission on April 1, 2010. Carbon Green acquired all of the issued and outstanding common shares of Greenwood on January 15, 2010. 

Corporate Update
Carbon Green's operations and plant roll-out strategy is lead by its COO, Mr. David Thursfield, the former Chairman, CEO and President of Ford Europe. Hired by Ford in 1979, he has more than 30 years of senior level experience in the automotive industry having held key executive roles including overseeing Ford's Premier Automotive Group, Mazda Motor Company, Ford of Europe, Ford Asia Pacific Operations and Global Purchasing arms. In particular, from 1998 to 2001 he was Vice President of Vehicle Operations at Ford Automotive Operations and from 2001 to 2002 he was Chairman, CEO and President of Ford of Europe. In 2002 he was appointed Executive Vice President of Ford Motor Company and President of International Operations and Global Purchasing. He is credited with saving Ford's premier luxury group which included Volvo, Aston Martin, Jaguar and Land Rover and is known as a cost-cutting specialist who was instrumental in turning the company around.

Carbon Green's business development and plant site selection is headed by Peter Shandro, an industry expert with over 30 years of experience in strategic planning, project management, development approval and operations. Over the span of his career he has owned and operated businesses in a variety of sectors including manufacturing, distribution, retail, medical device, and software development.

Effective January 25, 2010 John Novak, Ken Lee, Adi Muljo and Peter Jensen have been approved as Directors of the Company. 

Cyprus Plant Update
The management team recently visited the Cyprus plant with a group of bankers, investors and potential licensees. All were impressed by the advanced stage of the company's technology and progress to date noting that Carbon Green was the first tire pyrolysis company they had seen with a real plant and functional technology going into commercial production. The Cyprus plant employs 25 full-time technicians and operators who have been focused on fine-tuning the process to bring the plant up to full production capacity anticipated in May. The company also anticipates that the Cyprus plant will be cash-flow positive by May. 

Additional plant locations are being researched and the company looks forward to announcing the location of its next plant in the near future.

About Carbon Green
Carbon Green Inc. is a world leading tire recycling company able to profitably recycle 100% of used tires back into valuable end products which are able to be employed in tire manufacturing. This revolutionary technology will change how governments and industry handle the disposal of the over ten billion tires stockpiled around the world. 

From its commercial-scale plant in Cyprus, Carbon Green is converting the by‐products of tire pyrolysis into recovered steel, a #2 diesel equivalent oil which can also be employed to generate green electricity, a nano‐particle compound known as Carbon Green™ (which is a European Union accredited and tire industry‐tested and accepted competitive substitute for commercial carbon black) and a clean‐burning gas that can be used to provide power to the Company's processing plant and/or sold for carbon credits, leaving no waste and a positive environmental contribution. For more information please visit our website at

On behalf of the Board of Directors,


John T. Novak, President and CEO

Notice Regarding Forward Looking Statements
This press release contains projections and forward looking statements, as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release, which are not purely historical, are forward-looking statements and can include, without limitation, statements based on current expectations involving a number of risks and uncertainties and which are not guarantees of future performance of the Company. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information including adverse market conditions and the inability of the tire pyrolysis plant to commence commercial production. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice.

Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the Company's annual report on Form 10-K, its quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

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