June 17, 2008
Geotec, Inc. Establishes New Laboratory Operations
Geotec, Inc. (PINKSHEETS: GETC) announced today that it has contracted to open a new 2100 square foot laboratory in Delray Beach, Florida for facilitating the anticipated commercialization of Geotec's bio-refining processes.
The laboratory will be utilized to support the agreements with TTI Technologies Inc., StoneGate Partners, and GreenCoal, LLC. The laboratory will produce proteins and enzymes, as well as testing and quality control of hydrocarbons. This will facilitate the acquisition of coal sites and initiation of the bio-refining process for the sale of coal hydrocarbons in the United States.
The Geotec laboratory will also be involved in the technology design, operation and certification of the hydrocarbon bio-refinery facilities involved in tax credits under Section 45 of the Internal Revenue Code.
The laboratory will be used to process Asphaltite (from Geotec's Argentine mines) for bio-diesel/jet fuel and marine bio-diesel in a bio-refining program. Geotec's enzyme/protein systems will be used in the transesterification of ethanol into bio-fuels and bio-crude, environmental remediation, preliminary stages of carbon sequestration and its process to decontaminate gases containing impurities.
This laboratory will help Geotec develop its "GeoRich" family of bio-friendly fuels. With the laboratory research, Geotec believes that it will have a competitive advantage by utilizing its own feedstock fuels to operate its mining, bio-refining facilities and ground and marine shipment of "GeoRich Fuels."
About Geotec, Inc.
Geotec, Inc. (PINKSHEETS: GETC) is a Green Energy Technology Company with operations in the United States and Argentina. It utilizes proteins and enzyme technology to chemically convert hydrocarbons to commercially produce higher-value coal. The technologies are used on hydrocarbons, such as coal or oil, to reduce heavy metals and other contaminants such as sulfur, arsenic and mercury. It can correct pollution in the air, water or soils. In addition, the Company owns process technologies that can remediate hydrocarbon-contaminated soils. The Company's assets in Argentina are comprised of the mineral rights in seven Asphaltite (high-volatile hydrocarbon material) mines.
Statements in this release, which relate to other than strictly historical facts, including statements about the Company's plans and strategies, as well as management's expectations about new and existing products and services, technologies and opportunities, market growth, demand for new and existing products and services, are forward-looking statements. The words "believe,""expect,""anticipate,""estimate,""project,""intend" and similar expression identify forward-looking statements that can speak only as of the date hereof. This press release contains certain forward-looking statements regarding Geotec, its business prospects and results of operations that are subject to certain risks and uncertainties posed by many factors and events that could cause Geotec's actual business, prospects and results of operations to differ materially from those that may be anticipated by such forward-looking statements. The Company assumes no obligation to notify of any changes, other than material events as required by the Securities and Exchange Commission. Readers are urged to carefully review and consider the various disclosures made by Geotec in this new release and other reports filed with the Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that may affect Geotec's business.
Contact: Point Communications Group Richard Kaneb (888)-429-6210 http://www.geo-tec.net
SOURCE: Geotec, Inc.