ECOsystem technology to help address $940B food loss challenge
PASO ROBLES, CA – July 19, 2017 – The Indonesian government’s Technical Committee on Verification of Environmentally Friendly Technology has officially recommended that Greenbelt Resources Corporation (OTC: GRCO) be awarded “Eco Friendly Technology” registration for its proprietary waste-to-energy systems process “ECOsystem” technology. When awarded, the registration will designate Greenbelt’s technology as environmentally friendly and allow the company to showcase the country’s Ecolabel Logo. The registration will apply to all food waste applications including the technology’s use by fruit juicers, breweries, produce harvesters, food distributors, wheat and grain manufacturers, food manufacturers and more.
According to an article in the Economic Times, author Asitava Sen writes, “At $940 Billion annually, food loss and waste is more than the entire GDP of Indonesia.” Sen states only 4% of the total investments in global food and agriculture goes toward reducing food loss.
Proven technologies, such as ECOsystem, can immediately address the food loss problem. This designated “Eco Friendly Technology” is designed to convert ‘food waste’ or ‘food loss’ to valuable products including high protein food sources, potable water and bioenergy. Greenbelt CEO Darren Eng notes, “Our ECOsystem technology, as demonstrated with the pending registration, has already shown its ability to economically reduce food loss while adding additional revenue streams”.
“Receiving this endorsement validates our technology and provides more opportunities for Greenbelt,” says Eng. “A difficult registration to secure, once received it gives Indonesian companies confidence in emerging technologies – in essence, the government will have verified our technology works the way we say it does. As such, we anticipate greater market interest and increased sales. We look forward to growing our business relationships in Indonesia.”
Notably, Greenbelt previously signed an MOU with PT Jababeka Infrastruktur, to deploy Greenbelt’s signature ECOsystem technology in a project dubbed JababECO. The first U.S – Indonesia municipal waste-to-bioproducts project of its kind officially broke ground as part of the closing ceremonies for the Jababeka ECOweek in May. Recently, a representative from Jababeka visited Greenbelt headquarters to tour its Commercial Scale Testing Facility in Paso Robles, CA to observe the technology in operation.
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.