Green Earth Technologies Receives Additional Investment From Techtronic Industries North America
STAMFORD, Conn., Nov. 30 /PRNewswire-FirstCall/ — Green Earth Technologies (Pink Sheets: GETG), a leading manufacturer and marketer of “green” environmentally safe consumer packaged goods and products, announced today that it has received two additional cash investments and operating support from Techtronic Industries North America, Inc. (“TTI-NA”). This is in addition to an option for additional cash investments by December 31, 2009. TTI-NA sells RYOBI power tools and RYOBI and HOMELITE hand held gas and electric outdoor power equipment, including string trimmers, blowers, chain saws and hedge trimmers. GET is currently a supplier of TTI.
Through this investment, TTI-NA continues to assist Green Earth Technologies with research and development for future outdoor products and will allow them to leverage their SAP accounting system, enabling GET to improve processes around purchase orders, accounts receivable, manufacturing, inventory control and financial reporting. TTI-NA’s added support will also allow GET to scale up production to meet the anticipated demand for G-OIL and G1 Racing Oil while further developing new items destined for the shelves this month, including G-FUEL Fuel Stabilizer, G-FUEL Charcoal Lighter Fluid and G-CLEAN Grill & Surface Cleaner, all environment safe and made with American grown base oils. GET will also continue developing and marketing products designed to work specifically in TTI-NA’s equipment.
“TTI’s additional funding is a testament to their confidence in Green Earth Technologies as we work together to identify and satisfy un-met GREEN consumer needs,” said GET Founder & Chief Marketing Officer, Jeffrey Loch. “We have a full line up of innovative environment safe high performing green products destined for the shelves in December 2009.”
TTI-NA distributes products throughout The Home Depot markets in the USA, Mexico and Canada. It is also the recipient of three coveted awards in 2008 from The Home Depot including the Vendor of the Year Award for Lawn & Garden, the Marketing Award for power tools and Runner Up for Innovation for power tools.
TTI-NA is based in Anderson, SC and is a world-class supplier of superior home improvement and construction tools with a strong commitment to innovation and quality. The portfolio that TTI-NA offers includes a full line of power tool and outdoor equipment products.
ABOUT GREEN EARTH TECHNOLOGIES
Green Earth Technologies produces G-branded superior performing green products made with American-grown base oils that utilize the power of nanotechnology to deliver environmentally friendly products with no compromise… meaning, consumers can now “do their part” without having to give up performance or value: Save the Earth – Sacrifice NothingÃ‚® is the Company’s tagline. The G-brand family of products include G-OIL(R), G-LUBE (TM), G-WASH(TM), G-GLASS(TM), G-CLEAN(TM), G-SCENT(TM), G-WHEEL(TM), G-FUEL(TM) and G-TIRE(TM), and are offered in a wide range of automotive categories including performance and appearance chemicals. GET products are now available at The Home Depot, Meijers, Kroger, Albertson’s, Giant, Shop Rite, VIP, National Auto, Fred Meyer, participating ACE & True Value dealers, Redners, Trader Horns, The Andersons, Biggs, Bennett Auto, Frank’s Auto Supermarket, Do It Best and Amazon.com. Please visit www.getg.com for the latest news and in-depth information about GET and its brands.
Statements made in this release that relate to future plans, events, financial results or performance are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. These statements are based upon current information and expectations. Actual results may differ materially from those anticipated as a result of certain risks and uncertainties. Investors should also be aware that while the Company from time to time does communicate with securities analysts, it is against the Company’s policy to disclose to them any material non-public information or other confidential commercial information. Investors should not assume that the Company agrees with any report issued by any analyst or with any statements, projections, forecasts or opinions contained in any such report.
SOURCE Green Earth Technologies