SOURCE: Globex, Inc.

August 02, 2006 11:00 ET

Globex, Inc. Advances to Full Scale Testing Stage of Its New SCF Technology

Company Ready to Test Technology in Complete Pilot Ethanol Production Facility

NEW YORK, NY -- (MARKET WIRE) -- August 2, 2006 -- Globex, Inc. (PINKSHEETS: GLXI) today announced that it is reached the full scale testing stage of its new supercritical fluid (SCF) pre-treatment technology. The technology is now ready to be tested in its own complete pilot ethanol production facility. The objective of this test will be to demonstrate the complete integration of this technology in the conversion of cellulosic biomass to ethanol. Due to the fact that cellulosics are competitively priced with oil, a key challenge to commercializing the production of fuels from cellulosic biomass is to reduce processing costs enough to achieve attractive investment returns. Globex's goal is to develop a welcome alternative to producing ethanol via intense agricultural practices (consisting of mass production of corn, wheat or sugar beet), which involves using residues from crop, wood chips and pulp and paper.

Globex is in the process of selecting the best hydrolysis enzymes available on the market that will be adapted for use in its pre-treatment process. The residual sugars will then be fermented into ethanol, which will be recovered and purified to meet market requirements. The complete pilot unit should commence the testing process by next month.

The results of the full scale tests will clearly confirm the tremendous potential of this technology for reducing the inherent commercialization risk and demonstrate the opportunities for step-change improvement. The key economic driver in biomass conversion to ethanol is high product yields to enhance revenues and reduce waste treatment costs. The cost of materials construction and chemical use must be minimized for low value products, such as fuels. The SCF technology under development by Globex is a green pre-treatment process using only CO2 in the supercritical phase at high-pressure without other chemicals.

About Globex, Inc.

The mission of Globex, Inc. is to develop conversion technologies and methods related to the production of alternative 'green' energy. Our objectives are to become an important player in the high-growth ethanol industry and, in turn, establish a strong position in the green energy industry. Globex's goal is to capitalize on the rapid rise in the demand for ethanol that is being driven by the energy bill passed by the US Congress last year, which mandates the use of ethanol as a fuel additive rather than MBTE in order to reduce greenhouse gas emissions. In particular, the bill requires an increase in ethanol use by refiners to 7.5 billion gallons by 2012, which is nearly double the current total of about 4 billion gallons per year.

For more information please contact Michel Benoit at (514) 288-8494 or via e-mail at holdings@sympatico.ca.

Forward-Looking Statements

Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.

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