PASO ROBLES, CA – June 15, 2017 – Greenbelt Resources Corporation (OTC: GRCO) (Greenbelt) has announced the signing of a Letter of Intent (LOI) with Prosys Biorefining Systems, LLC (“Prosys”) to license it’s proprietary ECOsystem biorefinering technology to convert lemna (duckweed) and microalgae into renewable products. Prosys, based in San Pedro, Cali., is developing an organic aquatic plant-based source of concentrated protein from duckweed as a nutritious protein replacement for livestock and humans. Plans include the development of a biofinery located in California’s Central Valley utilizing a custom ECOsystem technology design from Greenbelt.
This announcement comes on the heels of an LOI signed between Greenbelt and the Andrew J. Young Foundation to build a biorefinery in the southeast U.S. featuring Greenbelt’s proprietary ECOsystem technology. As with The AJY Foundation, Greenbelt will optimize its ECOsystem technology for Prosys to produce sustainable, cost competitive renewable bioproducts including bioethanol, food and biofertilizers.
“Today is an important milestone for the growth of Prosys with the signing of an LOI to license Greenbelt’s advanced micro-biorefinery technology for development in California,” said Tim Biehler, Prosys founder and president and CEO. “After researching technologies available in the marketplace, Greenbelt’s process was selected because of its highly efficient and cost effective modular design and a small scale that is ideally suited for converting lemna as a feedstock into protein meal and bioethanol as salable co-products.”
Greenbelt’s CEO Darren Eng said that relationships similar to these can rapidly grow a sales pipeline. “This initiative demonstrates the high impact value of channel relationships to develop new customers and expand market opportunities as the licensing agreement will be complemented by the opportunity for Greenbelt to construct and deliver the first system. Prosys’ strategic plan projects 20 biofineries over an 8-year time horizon. This growth strategy can be supported by the collaborative spirit and commitment of our two organizations.”
Biehler, who brings to Prosys an extensive background in conventional petroleum and biomass refining, adds, “In licensing Greenbelt’s technology, Prosys has a highly experienced partner with the most innovative and best available technology that can give both organizations a leading competitive edge in the marketplace by creating a new alternative protein source.”
About Prosys Biorefining Systems, LLC
Prosys has assembled veteran management team with decades of proven experience in clean energy, agriculture technology and project development. Prosys is skilled in systems integration and process optimization with an extensive background in advanced biorefining and conventional oil refining operations and biomass crop production. For more information visit www.prosysbiorefining.com.
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.
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.