SOURCE: Globex, Inc.

October 11, 2006 09:26 ET

Globex, Inc. Announces Plans to Acquire Necessary Permits in Brazil

Company in Negotiations With Several Parties to Acquire Necessary Permits

NEW YORK, NY -- (MARKET WIRE) -- October 11, 2006 -- Globex, Inc. (PINKSHEETS: GLXI), today announced that it plans to acquire an ethanol permit in Brazil. To that end, the Company is presently in negotiations with several Brazil-based private organizations to acquire the necessary national permits. These permits were awarded by the Brazilian Government to Private Organizations and Brazilian Companies for the construction of Ethanol Plants in Brazil. Globex will employ its proprietary supercritical fluid (SCF) pre-treatment technology for the production of ethanol in the plant. In addition, Globex plans to produce ethanol by using residues from crops, wood chips and pulp and paper rather than using sugar cane, which is the method utilized in Brazil.

President Dr. Joel Fournier stated: "This is a tremendous opportunity for Globex to gain a foothold in Brazil, which is a leader in Latin America and emerging world superpower in the use of renewable energy sources, namely hydroelectricity and ethanol. It is an attractive environment not only to build an ethanol plant but also to raise awareness and commercialize our innovative SCF pre-treatment technology. In addition, we intend to highlight the environmental advantages of our ethanol production system that uses crop residues rather than the national method that uses crops such as sugar cane."

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 Globexenergy@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.

Contact Information