DELRAY BEACH, Fla., Feb. 1, 2007 (PRIME NEWSWIRE) -- Geotec Thermal Generators, Inc. (Pink Sheets:GETC) today announced the filing of a 14-C with the Securities and Exchange Commission to change its name to Geotec, Inc. The 14-C also provides for an increase in the capital structure of the Company by increasing its authorized common stock. Upon completion of the name change, the Company will require the delivery of all common stock (electronic and certificate forms) to be delivered to the Company for newly issued Geotec, Inc. common stock. The Company will bear the cost of this process. The Company is in the process of completing all of its SEC filings, and upon completion, the Company will be seeking to be re-listed on the Bulletin Board.
Geotec, over the last two years, has focused on the commercialization of 140 proteins/enzymes for the remediation and chemical transformation of waste coal in Belle Vernon, Pennsylvania. The test results, conducted by independent and nationally recognized laboratories, demonstrate that the Company's proprietary process is effective in bio-refining waste coal, to clean coal standards. The bio-refined coal should be acceptable to be sold through the NYMEX trading system. The Company's bio-refinery process cleans (remediates) the coal waste sites and corrects acid mine drainage. One of Geotec's competitive advantages is that no top soil or other materials are required. This waste coal feedstock becomes top soil and the Company has demonstrated subsequent sustainable soybean growth.
The Company has completed and delivered to TecEnergy of Pennsylvania, Inc. ("TecEnergy") (a wholly owned subsidiary of Consolidated Energy and Technology, Inc.) (Pink Sheets:CGGE) the initial batch coal bio-refining machine for the evaluation and investigation of coal sites in Pennsylvania.
Geotec is pleased to announce that Tom Yarbro, President, and Bryan Hall, VP of Yarbro Equipment Services, Inc. have begun the engineering, design and development of a Five Thousand Ton (5000) per day, bio-refinery unit to be located in Belle Vernon, Pennsylvania.
Geotec Thermal Generators, Inc. has launched its re-designed web site to further inform the public of the Company's products and technologies. www.geo-tec.net
Geotec Thermal Generators, Inc. (Pink Sheets:GETC) is a Green Energy Technology Company. Geotec has operations in the United States and Argentina and utilizes proteins and enzyme technology to chemically convert hydrocarbons to commercially higher value coal. The technologies are also used to purify hydrocarbons, such as coal or oil, of heavy metals and other contaminants such as sulfur, arsenic and mercury to prevent or correct pollution in the air, water or soils. In addition, hydrocarbon contaminated soils can be re-vegetated and re-forested.
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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 to 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.