Global Green Solutions Inc.
OTCQB – mid-tier listing : GGRN

Global Green Solutions Inc.

May 05, 2011 17:27 ET

Global Green Solutions Reduces Outstanding Debt

SAN DIEGO, CALIFORNIA--(Marketwire - May 5, 2011) - Global Green Solutions Inc., a fully reporting company traded on the OTCQB (OTCQB:GGRN), announced today that it had reached agreement with corporate officers and directors and related parties to settle approximately $1,600,000 of outstanding debt. The debt results from unpaid fees and loans to the company, and is being settled with the issuance of approximately 5,000,000 restricted common shares of GGRN.

"We are extremely pleased with this favorable settlement of outstanding debt," stated Elden Schorn, Chairman of the Board. "We believe the company is on the cusp of achieving important milestones with our Greensteam™ technology, and we want to make our balance sheet more attractive to investors, as well as demonstrate our own personal commitment to our shareholders."

Greensteam™ is a patent-pending, highly efficient advanced combustion process designed to produce renewable energy from biomass with minimal air pollution. GGRN has constructed a demonstration plant near Bakersfield, California to prove the process can deliver projected efficiency and low air emissions advantages. GGRN is currently making final preparations to conduct a 30 day continuous performance test, the next step in the Greensteam™ commercialization process.

Global Green Solutions Inc. (www.globalgreensolutionsinc.com) develops and implements ecotechnology solutions for biomass-derived renewable energy generation. Global Green Solutions Inc. is a U.S. public traded company (OTCQB:GGRN) (CUSIP 37947A), with offices in San Diego, Vancouver, Edinburgh, and Bakersfield, CA.

LEGAL NOTICE REGARDING FORWARD LOOKING INFORMATION

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. Such forward-looking statements in this release include, the expectation and/or claim, as applicable, that: the process can deliver projected efficiency and low air emissions advantages; and that. Although Global Green Solutions Inc. (the "Company") believes that the expectations reflected by the forward-looking statements presented in this release are reasonable, the Company's actual results could differ materially from those in such forward-looking statements due to a number of factors and uncertainties. Factors that could cause actual results to differ materially include: our process technology may not perform as expected and sufficient funds may not be raised to enable the company to complete demonstration plant performance testing. Except as required by applicable securities laws, the Companydisclaims any intention or obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise. Readers should also refer to the Company's periodic reports and other filings filed from time to time with the Securities and Exchange Commission, which are available at www.sec.gov for additional discussion of risks and uncertainties relating to the Company and its business.

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