“California BioEthanol (CBE) Project” designed to produce a highly sustainable ethanol
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PASO ROBLES, Calif., Nov. 13, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Greenbelt Resources Corporation (OTC: GRCO) (Greenbelt) has announced commencing Phase 1 of the “California BioEthanol Project,” a three-phased initiative to convert Greenbelt’s Commercial Scale Testing Facility into a commercial-scale production biorefinery. Upon Phase 1 completion, the biorefinery will produce approximately 1.37 million pounds of protein concentrate and 75,000 gallons per year of bioethanol. Announced earlier this year, the total estimated investment for the California BioEthanol Project is $3.25 million.
“The demands of the extraction industry for bioethanol, particularly in California, are now undeniable,” says Darren Eng, Greenbelt’s CEO. “Greenbelt has become a preferred premium source because our proprietary ECOsystem model is founded on a community-scale concept that’s even more environmentally friendly than organic. We transform unintended food waste from local businesses, such as breweries and wineries, and produce bioproducts, such as amino acid rich protein concentrates to be sold to local animal producers and bioethanol to be sold to the local cannabis industry for use in extraction.”
Eng estimates the production facility will begin generating sales within the first eight weeks of commissioning. Phase 2 will add a second production system followed by Phase 3 that will expand the production capacity of Phase 1 and reduce cost of per gallon production. Phase 3 will more than double the bioethanol production to 200,000 gallons per year.
Already, industry demand has opened discussions about installing Greenbelt ECOsystem community scaled systems all around the country starting with key areas of demand in California and Colorado, but also in the northeast and the south, where the CBD industry is exploding.
California’s cannabis industry alone is projected to be over $10.0 billion annually by Arcview Market Research and author Kenneth Morrow in The Extraction Evolution writes that 90 percent of all cannabis produced and sold in the future will be processed and extracted.
About Greenbelt Resources
Greenbelt Resources Corporation™ is an award-winning provider of sustainable energy production systems focused on delivering modular solutions that enable the localized processing of locally generated waste into locally consumed products. Greenbelt designs, develops and implements technology that makes the production of advanced biofuel reliable, practical and efficient. Controlled by proprietary automated controls, Greenbelt’s small-scale, end-to-end modular systems convert food, beverage and other cellulosic wastes into commercially viable advanced biofuels (bio-ethanol), animal feed, fertilizer and filtered water. For more information visit www.greenbeltresources.com.
Forward-Looking Statements & Safe Harbor
This document includes certain statements, predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the supply and demand for biofuels, our ability to remain technologically competitive and other economic, competitive and technological factors involving the Company's operations, markets, services, products and prices.
Darren Eng, CEO
Greenbelt Resources Corporation
888-995-GRCO (4726 x 101)
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/f39bc9c2-9945-4569-8b5b-c86a868d1e4f.