SOURCE: Green Planet Group

May 01, 2014 09:15 ET

Green Planet Growing System Receives Patently Good News

TEMPE, AZ--(Marketwired - May 1, 2014) - Green Planet Group, Inc. (OTC Pink: GNPG) (PINKSHEETS: GNPG) announced today that its wholly owned subsidiary, Healing the Earth, Inc. (HTE), has completed an initial patentability search regarding its revolutionary food growing system. Based upon the results of the search, patent practitioners at Schmeiser, Olsen & Watts LLP, the Company's Intellectual Property law firm, have determined that there are numerous features incorporated in the growing system that are likely novel and patentable.

Schmeiser, Olsen & Watts LLP is regarded as one of the leading intellectual property law firms in the U.S., filing patents for both domestic and foreign protection. A patent search regarding any IP conflicts was conducted at the United States Patent Office, which includes U.S. patents as well as a number of related foreign patents, publications and articles. Karen E. Jachimowicz, the Company's patent agent, stated, "We have determined that there are a number of features of the Company's invention that are not disclosed by the prior art, and the chances of getting a patent covering its invention are favorable." Ms. Jachimowicz continued, "We advise that the Company file one or more patent applications to protect these features of their invention. Once completed, the inventions will be 'patent pending'."

After reviewing the patent search results with Schmeiser, Olsen & Watts, Edmond L. Lonergan, Green Planet Group CEO, said, "We have approved the preparation of a patent application and are delighted to hear the positive outcome of this patentability search. We are committed to protecting the IP inherent in our revolutionary growing system, which is now under construction."

Healing the Earth, Inc. is building a "proof of concept" growing system installation in Congress, Arizona to verify the productivity of the Company's groundbreaking organic growing technology and to validate its three primary concepts: Food on Demand, Food at the Point of Consumption and Fast Track Food.

  • This revolutionary growing system produces 100% organic food naturally, with no GMOs (genetically modified organisms) or chemical fertilizers.
  • The system uses up to 90% less water than conventional growing methods and plants grow up to 300% faster.
  • GNPG projects that revenues from the HTE subsidiary could exceed $200 million with a net profit of $40 million within the next five years.

About Green Planet Group, Inc.

The Company is comprised of five wholly owned subsidiaries: one operating company and four development companies. XenTx Lubricants, Inc. produces lubricants and additives for gasoline and diesel engines. Arizona Independent Power Company is a development stage company holding rights to the Verde Pumped Storage Project. AAQIS, Inc. is developing a hydrogen generator which greatly reduces hydrocarbon emissions while improving fuel efficiency in internal combustion engines. Green Mining Technologies, Inc. is developing green technologies for the mining of precious metals. The Company's Healing the Earth subsidiary is developing a new "fast track" growing system capable of growing vast amounts of fresh, organic food.

Forward-Looking Statements

Certain statements contained herein are "forward-looking" statements (as defined -- Private Securities Litigation Reform Act of 1995). Green Planet Group, Inc. cautions that the statements made in this press release constitute forward-looking statements and no guarantees of future performance and actual results or developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at time the statements are made.

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