HOUSTON, TX--(Marketwired - Apr 16, 2014) - Global Clean Energy, Inc. (OTC PINK: GCEI) is pleased to update its shareholders on recent developments with respect to projects and management additions.
The company has recently added Hakim Zahar, P.Eng. MSc. to serve as Chief Scientific Officer and William Hongchang Eng. to oversee Quality & Management Engineering in China.
Mr. Zahar has more than 35 years of experience in the clean energy and environment sectors, having implemented more than 400 successful programs/projects worldwide. Most recently, Mr. Zahar has worked with the International Finance Corporation (IFC) - World Bank Group as Program Manager (STC) to develop a resource efficiency programs in the Southern Hemisphere.
Mr. Hongshang will manage the operations and procurement between GCE and its Chinese suppliers.
"In their short time with the company Hakim and William have proved invaluable as the engineering demands on the firm have grown exponentially" says Earl Azimov, CEO of GCE.
GCE is contracting with technology providers in Asia and Europe where investment, R&D and advances are leading the world markets. GCE expects an agreement to be in place with a leading Chinese pyrolysis group in Q3 with systems destined to our operating sites in North America. GCE plans to build the first dual line end of life plastic and tire pyrolysis operation in the Southeast region.
"GCE has systematically modeled and evaluated 5 distinct business units over the last 12 months on route to $24M of investment to be made this year," added Brian Levine, COO of GCE. "The company has followed it stringent capital management criteria limiting its technology exposure by focusing on systems with a broad and proven install base, strict IRR, absolute site control and offtake revenue agreements into stable commodity markets."
GCE will develop a Plastic and Tire Pyrolysis site and a PGM platinum group metals plasma Arc recovery site in 2014, operational in 2015.The Company expects revenues in 2015 to exceed $80M. GCE is also evaluating an acquisition to accelerate time to market in the PGM industry.
About Global Clean Energy, Inc.
Global Clean Energy, Inc. is a waste-to-energy conversion solutions company, focusing on using available and developing technologies to convert waste into commercially viable energy, a process the company refers to as Reforming Environmental Salvage into Clean Usable Energy (R.E.S.C.U.E.). GCE is the industry's most diversified aggregator and system integrator bringing solutions to the plastics, rubber, anaerobic digestion and platinum group metals recovery industries. GCE focuses on existing technologies with a track record to provide its feedstock network with reliable solutions. For more information about Global Clean Energy, visit www.globalcleanenergy.net.
Statements in this release may be regarded, in certain instances, as "forward-looking statements" pursuant to certain sections of the Securities Act 1933 and the Securities Exchange Act 1934, respectively. "Forward-looking statements" are based on expectations, estimates and projections at the time the statements are made, and involve risks and uncertainties, which could cause actual results or events to differ materially from those currently anticipated, including, but not limited to delays, difficulties, changed strategies, or unanticipated factors or circumstances affecting Global Clean Energy Inc. and its business. There can be no assurance that such forward-looking statements will ever prove to be accurate and readers should not place undue reliance on any such forward-looking statements contained herein. Global Clean Energy Inc. will not republish revised forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.