JAMESTOWN, CA--(Marketwired - Oct 6, 2016) - Green EnviroTech Holdings (OTC PINK: GETH) is pleased to announce that as of September 2016 the Company has received a process performance certification for its Generation 1 (Gen 1) end-of-life Tire Processing Solution from BHP Engineering & Construction LP.
As GETH Chairman and CEO, Gary De Laurentiis explains, "This is a momentous achievement for the company as we can now secure financing for projects that will recycle end-of-life tires anywhere in the world. Not only is our Gen 1 Tire Processing Solution fundable, the models project that it will deliver excellent financial returns on investment. We look forward to being able to announce projects to install, commission and operate Gen 1 end-of-life tire processing plants in the near future. I would like to thank all of the team and our partners for their efforts in achieving this significant milestone."
Chris Bowers, CEO of Smart Fuel Solutions, the operational arm of GETH, added, "Gary and the team have achieved this hugely important milestone through dedication and persistence over many years. This achievement is the fundamental step that we believe will help to propel GETH into revenues and profits in 2017. I join Gary in thanking the team and our partners for their outstanding work."
Dong Pham, President of BHP Engineering & Construction LP added, "In providing the process performance certification, BHP engineers started with a proven international production scale pyrolysis system. We incorporated numerous modifications to meet US emission standards, improving efficiency, reliability and improving the fuel oil product specifications to meet US customer requirements. Our modifications are based on proven processing technologies which we have used for the past 33 years so we are fully confident in the system's production performance. The GETH Gen 1 end-of-life Tire Processing Solution is robust, and we can already see a path to upgrading Gen 1 and to developing Gen 2."
Dong added, "We are very pleased to be involved in a venture that will help to clean up the environment and create jobs in local communities. We are fortunate to be working with Gary and his team as they have a wealth of knowledge and experience in global business; and have feedstock supply contacts in the recycling industry all over the globe. Both of these factors will be key elements that contribute to superior profitability of this project and future projects."
GETH cautions that statements made in press releases constitute forward-looking statements, and makes no guarantees of future performances and actual results/developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the time statements are made.
About GreenEnviroTech Holdings
GreenEnviroTech Holdings (GETH) is a pioneer in sustainable economic development. Our mission is to find practical, economical solutions that will clean up the environment. Our technologies will convert waste into valuable products and help to protect the planet.
About Smart Fuel Solutions
Smart Fuel Solutions (SFS) is an operating company whose team has 50 years of combined experience in the waste recycling sector and is majority owned by GETH. SFS will be directly involved in the day-to-day operations of each plant.
About BHP Engineering & Construction LP
BHP Engineering & Construction LP has a record of over 33 years in providing quality, responsive, and cost effective engineering and construction services to refining, oil and gas, chemical, municipal and military clients. We are a multi-discipline, full-service design engineering and construction firm with a diversified staff of engineers, planning/scheduling specialists, designers, instrument & electrical technicians, surveyors, construction coordinators, construction management and support personnel.