Greenbelt Resources Subsidiary Planning Multiple Small Ethanol Plants for Recycling Centers
Diversified Ethanol, a wholly owned subsidiary of Greenbelt Resources Corporation (Pink Sheets: GRCO) has completed feasibility studies and is talking with potential partners who have access to waste sugars, such as spoiled foods, and recycling facilities to joint venture in ownership of the highly efficient small ethanol plants.
Sunday, the New York Times described company co-founder, Floyd Butterfield as, “something of a legend for people who make their own ethanol. In 1982, he won a California Department of Food and Agriculture contest for best design of an ethanol still, albeit one that he could not market profitably at the time.”
Butterfield said of Diversified Ethanol, “I’ve been in fuel alcohol for a long time. This project has the best returns I have ever seen on an ethanol plant. We would like to build several of these highly efficient plants, which run on recycled waste. My dream has always been not to just build one or two of these plants, but to design them so that they can be produced in large quantities.”
The company plans to build several highly efficient ethanol plants, using new technology such as membrane separation instead of the conventional molecular sieves. While the plants use the latest available materials and processes to make ethanol out of recycled waste, the basic design relies on proven techniques developed by Butterfield.
The company’s new CEO, Scott Pummill has brought financing strategies to the company that make sense for lenders interested in backing the company’s highly efficient ethanol plants, which run on recycled waste, and has other projects in the works. Pummill intends not only to manufacture them, but to have Diversified Ethanol own and operate them as well.
While most ethanol is dependent on costly acid hydrolysis, or expensive feedstocks such as corn, the newest generation of ethanol plants run entirely on waste. Thus, the profit margins are easier to sustain.
For more information about obtaining a detailed feasibility study of your own prospective ethanol plant using recycled waste, and whether or not you could qualify for financing, please contact the company through its website, at www.diversifiedethanol.com.
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements. These forward-looking statements involve certain risks & uncertainties that could cause actual results to differ, including, without limitation, the company’s limited operating history & history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company’s projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.