SOURCE: Global Earth Energy Inc.

February 23, 2011 10:34 ET

Global Earth Energy Inc. Enters Into Joint Venture Worth Approximately $160 Million Over the Next 10 Years

WILMINGTON, NC--(Marketwire - February 23, 2011) - Global Earth Energy Inc. (OTCBB: GLER) announced today it has entered into a joint venture partnership with Innovated Concepts of Ethanol, Corp. ("ICE"), a South Dakota corporation, which is in the business of ethanol. Jim Zook, CEO and president of ICE, stated, "The joint venture will have estimated gross revenues of $80 million per year for a total revenue of $800 million for the life of the agreement with a gross revenue value to GLER of $160 million." This agreement will be in effect for 10 years with a revenue sharing of 80% to ICE and 20% to GLER. Full details including the executed joint venture agreement will be available on GLER's website.

ICE was created to serve the ethanol manufacturing industry from initial concept and design through construction, marketing, operations and processes. The ICE team is a leader with proven experience and a record of excellence in the ethanol bio-fuels industry. With a strong network of affiliate companies, ICE delivers cutting-edge technology and comprehensive services to not only create, but to maximize, bio-mass ethanol operation efficiencies.

About Innovated Concepts of Ethanol
Innovated Concepts of Ethanol, Corp. (ICE) is a bio-refining, consulting and services firm whose principals are experienced in all phases of management (business, design, construction, operations and employee training) in the ethanol industry.

About Global Earth Energy Inc.
Global Earth Energy Inc. provides renewable energy solutions. In addition, the Company is pursuing joint venture agreements with green solution providers worldwide.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. Certain risks are detailed in the Company's Form 10-K and other periodic filings with the Securities Exchange Commission at www.sec.gov. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.

Contact Information

  • We welcome any and all inquiries about this partnership by contacting any of the personnel listed below.
    Sydney A. Harland
    CEO
    Contact:
    Global Earth Energy
    910-270-7749
    www.globalearthenergy.com

    Jim Zook
    CEO/President
    Innovated Concepts of Ethanol
    Email Contact

    Spiros D. Sinnis
    Chief Business Advisor
    630-750-9095
    skype: spiros.xs
    Email Contact
    www.xsholdings.com