SWANTON, Md., Aug. 16, 2012 (GLOBE NEWSWIRE) -- Green Processing Technologies, Inc. (TMGR) announced today that it has entered into a Joint Venture Agreement with Canada based CREEnergy Oil and Gas Co.
CREEnergy Oil and Gas Inc. is an Alberta corporation that was formed as the first aboriginal company dedicated to oil and gas development on First Nation reserves in Canada and the USA. Through its network of associations with all the First Nation reserves, CREEnergy has dedicated its primary focus for oil and gas development in the four western provinces of Canada. Currently, CREEnergy has entered into leases and option agreements on specific First Nation reserves that have shown to have proven capability for profitable oil field development.
CEO Stephen Cummins was quoted, "We at GPTI are extremely pleased to enter into this Joint Venture with CREEnergy. This is a prime opportunity to demonstrate the effective performance of GPTI technologies on a large scale to the industry. The positive impact on the environment that this Joint Venture will achieve in Canada should be impressive by anyone's standards."
Under the terms of the Joint Venture Agreement, Green Processing Technologies, Inc. and CREEnergy Oil & Gas Co. will work together to provide state of the art remediation solutions for existing environmental issues that are located on aboriginal lands in Alberta Canada. The Joint Venture's primary objectives are the remediation of land based oil spills and water based oil contamination. The Joint Venture is projecting that its first land based oil spill remediation contract will be fully executed in mid August.
Green Processing Technologies, Inc. is first and foremost a Green Technologydevelopment, fabrication and commercialization corporation. GPTI technologies include Waste to Energy, Water Remediation, Contaminated Land Remediation, Oil Spill Remediation, Water Desalinization, Green Housing Development, Waste Remediation, Alternative Agriculture, Automotive Emission Reduction, Medical Waste Remediation, and E-Waste Remediation.