Paso Robles, CA – April 12, 2018 – Greenbelt Resources Corporation (OTC: GRCO) (Greenbelt) and Duckweed DAYS, LLC have announced the signing of a contract to officially commence the inaugural Duckweed Project that will commercialize the duckweed model developed by the Andrew J. Young Foundation (AYF). Greenbelt will expand and refine the preliminary system that was proven successful during AYF’s pilot program, in which they invested $1.2 million. The findings were reported to the USDA in 2017 in a feasibility study.
The total Duckweed Project cost is estimated at $14.0 million, of which $5.0 million is budgeted for Greenbelt’s system and technology. The initial design phase, has commenced with the funding provided.
“Greenbelt believes the Duckweed Project will have a global impact, and we are honored to work with world renowned Andrew J. Young Foundation on such an important initiative,” says Darren Eng, Greenbelt CEO. “The market potential for Greenbelt’s ECOsystem model has been further expanded by AYF with their designation of Greenbelt’s technology as in integral part of the duckweed protein model. We believe our technology, as part of the Duckweed Project, will play a significant role in paving the way for duckweed to become a new cash crop targeted to helping meet the demand of the rapidly growing biobased industry.”
Tests conducted during the AYF pilot program indicated that protein extracted from duckweed was one of the most nutritious vegetable organic protein with essential amino acids, and the bio-refining process was efficient, sustainable and economically viable.
“The Duckweed Project is the culmination of several years of hard work and commitment by the Andrew J. Young Foundation and its partners who share a vision of the world with a sustainable, safe, and secure food supply for all; a world free of malnutrition and rural empowerment,” says Gaurav Kumar, director special projects & risk management for AYF. “With introduction of the duckweed model – a combined source of biofuels and biobased protein— we expect to change the world.”
Greenbelt has been an industry leader in feasibility feedstock testing. In addition to demonstrating the viability of duckweed, the company recently completed successful tests on winery waste and brewery trub and found them to be suitable feedstocks for Greenbelt’s ECOsystem model. The company is currently raising financing for two projects utilizing those feedstocks: PRECO and the California BioEthanol Project.
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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.
About the Andrew Young Foundation
The Andrew J. Young Foundation is a 501(c) (3) community based non-profit public charity that supports research and development on new technologies that have the potential to create sustainable jobs and create a more equitable society by empowering people living in poverty in rural America, Africa and across the globe. In this pursuit, the Foundation is currently focused upon finding sustainable solutions for food security and malnutrition, reengineering agriculture, traditional medicines, and inclusivity in the financial system for the impoverished sections of society worldwide. These solutions would empower underserved populations across the globe, introducing increased equity and uplifting the quality of life in the society. For more information visit www.andrewjyoungfoundation.org.
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.