SOURCE: Green EnviroTech Holdings

September 19, 2011 13:16 ET

GETHE Is Reaching Milestones as Follows

NEW YORK, NY--(Marketwire - Sep 19, 2011) - Green EnviroTech Holdings Corp. (www.greenenvirotech.com) (OTCBB: GETHE) and its wholly-owned subsidiary, Green EnviroTech Corp., a waste plastics recovery, separation, cleaning, and recycling company, today released a statement from CEO and Chairman Gary M. De Laurentiis commenting on his positive outlook on the Company's progress.

"The company has made significant progress with Magic Bright, a plastic commodity broker based in Hong Kong which is now a wholly owned subsidiary of Green EnviroTech. In addition to providing the Company with a profitable, revenue generating subsidiary, this acquisition will also provide distribution outlets in Asia.

"Our next anticipated milestone is the opening of our plant in Riverbank, California. Once completed, the plant will process agricultural plastic film and produce sweet crude oil that would be sold through our contract with Agilyx. The City of Riverbank is offering employment grants and has introduced sources for State loans and CPCA bonds.

"Our planned Sheboygan, Wisconsin plant is our next area of focus. Once opened and operational, this plant will utilize our licensed technologies and will produce mainly recycled plastic, known as 'TPO,' along with sweet crude oil. The oil will be sold to Agilyx through its contract as per the Riverbank plant. The main plastic product, TPO, will be sold to Ravago who has entered into a letter of intent with the Company to process the recovered TPO from the plant and market it through their various sales channels. Again, this is a major milestone for the Company to be able to work with a global plastics company like Ravago (www.ravago.com)," stated CEO and Chairman Gary M. De Laurentiis.

GETHE will make best efforts to file its quarterly report with the Securities and Exchange Commission before the end of September.

ABOUT GREEN ENVIROTECH HOLDINGS CORP.
Green EnviroTech Holdings Corp. is a plastics recovery and recycling company which removes contaminants from recovered plastic recaptured from end of life automotive vehicles shredded for their metal. Green EnviroTech Holdings Corp. processes this recovered plastic to produce compounded plastic resin and light sweet crude oil as end products. Its unique patented process significantly reduces the amount of shredder residue going to landfills by up to 40 percent creating considerable cost savings for metal recyclers while also dramatically reducing the volume of materials going to the landfill. The Company has developed long term strategic partnerships that allow it to receive feedstock at near zero cost and has also leveraged its patented technology to ensure guaranteed sale of 100% of its production output thereby creating a sustainable and high margin business model. A valuable by-product of the Green EnviroTech process is commercial grade, sweet crude oil that will also be sold to industry at market prices. For more information please visit www.greenenvirotech.com.

Safe Harbor Statement:
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