OAKDALE, Nov. 11, 2013 (GLOBE NEWSWIRE) -- Green EnviroTech Holdings, Corp. (OTC QB: GETH) CEO announced today that a new relationship with a United Kingdom company has been established to build a plant in the UK utilizing the GETH oil conversion technology for mixed plastics and waste tires. A United Kingdom company, Black Lion Oil Ventures Ltd. (BLOV) has recently been formed and has secured the rights to the GETH technology allowing it to establish a plant or plants in the United Kingdom. BLOV which was formed as a Special Purpose Vehicle is presently researching potential sites and is in discussion with two groups to ensure adequate feedstock supplies for the UK plants. BLOV has already commenced early stage discussions with potential finance sources to secure initial financing for a pilot plant.
If BLOV could secure 25% of plastic waste generated in the United Kingdom and 25% of waste tires there would be constant sufficient raw material to support 218 GETH systems. Gary De Laurentiis the CEO of GETH said, "This relationship is at a very early stage but as can be seen from the figures in this document the scope for expansion in the United Kingdom is enormous. We look forward to building a long standing relationship with BLOV".
About: Green EnviroTech Holdings Corp.
Green EnviroTech Holdings (GETH) is an innovative technology company with a patent pending process for recycling waste tires and mixed plastics back into high-grade oil, suitable for blending into most products produced at a refinery. GETH Oil conversion technology converts plastic and tires to oil using electromagnetic induction pyrolysis and produces oil, carbon black, syngas, and steel. The use of electromagnetic induction pyrolysis facilitates a faster and stable process while causing essentially no environmental impact. For further information about the Company, visit www.greenenvirotech.com and/or email info@greenenvirotech.com.
Media services by: Vitello Capital Ltd and 18KT.tv LLC
Safe Harbor Statement:
GETH cautions that statements made in press releases constitute forward-looking statements, and makes no guarantees of future performances and actual results/developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the time statements are made.