SOURCE: Green EnviroTech Holdings Corp.

Green EnviroTech Holdings Corp.

July 14, 2011 16:05 ET

Green EnviroTech Holdings Corp. to Expand Board to Enhance Oversight and Transparency in Growing Operation

RIVERBANK, CA--(Marketwire - Jul 14, 2011) - Green EnviroTech Holdings Corp. (OTCBB: GETH) today announced that the Company has initiated a search to fill two new outside board of director positions. With the growth of the Company, to include its recent acquisition of a plastics brokerage company with coverage in Europe and Asia, and the planned build out of recycling facilities in the United States, Green EnviroTech is now identifying candidates to fill two new board of director seats, which will expand the existing board to five directors with a focus on further improving corporate governance. The two new board seats will oversee the auditing and compensation committees for the Company.

Gary De Laurentiis, Chairman and CEO of GETH, said, "The Company is rapidly moving on its business plan with both the recently closed acquisition and financing. We are now looking to expand our management team by adding key directors with relevant expertise and experience that will benefit the company as well as enhance corporate transparency and oversight. We are currently identifying candidates to fill these roles and look forward to finalizing this process."

About Green EnviroTech Holdings Corp.
Green EnviroTech Holdings Corp. is a plastics recovery and recycling company which removes contaminants from recovered plastic recaptured from end of life automotive vehicles shredded for their metal. Green EnviroTech Holdings Corp. processes this recovered plastic to produce compounded plastic resin and light sweet crude oil as end products. Its unique patented process significantly reduces the amount of shredder residue going to landfills by up to 40 percent creating considerable cost savings for metal recyclers while also dramatically reducing the volume of materials going to the landfill. The Company has developed long term strategic partnerships that allow it to receive feedstock at near zero cost and has also leveraged its patented technology to ensure guaranteed sale of 100% of its production output thereby creating a sustainable and high margin business model. A valuable by-product of the Green EnviroTech process is commercial grade, sweet crude oil that will also be sold to industry at market prices. For more information please visit www.greenenvirotech.com.

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