New Age Renewable Energy, LLC incorporates two module ECOsystem solution for new client in Iceland
PASO ROBLES, CA – July 25, 2019 – Expected to be the first in a series of system sales as part of their recently-announced technology and channel collaboration initiative, Greenbelt Resources Corporation (OTC: GRCO) (Greenbelt), the developer and producer of a sustainable ECOsystem model that transforms food, beverage and agricultural industry waste into revenue generating bioproducts, has announced today the sale of a two-module ECOsystem solution to be incorporated into a dairy-waste-to-bioproducts project in Iceland managed by New Age Renewable Energy, LLC. (NARE).
As announced last month, NARE, a privately held company based in upstate New York, has developed a proprietary formulation to process a variety of challenging waste streams produced by the dairy processing industry. Producers of such products as Greek yogurt, cream cheese, and ricotta cheese, etc. may face the highest waste costs but the cost for waste disposal can be high for any dairy processor depending on its location. Combining the NARE formula with the efficiency of Greenbelt technology provides a cost-effective solution for dairy processors to address the unique challenges presented by wastes such as acid whey, whey permeate, and other milk derivatives.
The dairy industry will be closely watching the success of this project, and another NARE project in a repurposed grain alcohol plant, for validation of what is likely to become an industry standard solution. The US industry produces more than 2,000,000 tons of acid whey per year
andw ith an average cost of $400 per truckload, transportation for disposal alone costs the industry over $28.0 MM annually. According to NARE president Eduard Zaydman, “The Greenbelt NARE alliance can convert that industry loss into combined value of over $100.0MM worth of bioethanol and protein feed per year from acid whey.” Acid whey represents only the most notorious portion of the industry’s waste concerns.
GRCO and NARE are exploring whether the grain plant conversion, mentioned above, might benefit from the installation of Greenbelt technology. Meanwhile, with the NARE portion of the Iceland project already underway and Greenbelt manufacturing now commenced, delivery of the two module ECOsystem from Greenbelt is projected in the fourth quarter. All revenue from the $575,000 project is projected to be recognized by GRCO in 2019.
In other news, according to Greenbelt CEO Darren Eng, “Greenbelt has been in negotiations to increase its fabrication capabilities and to expand customer funded duckweed operations.” Both are projected to begin in the next quarter.
About New Age Renewable Energy, LLC
New Age Renewable Energy (NARE) is a leader in cost effective and efficient whey and milk derivatives processing. Proprietary, unique yeast formula and method is allowing short fermentation of large amount of dairy production liquid waste. Revolutionary method of waste processing is a 0 discharge and carbon negative. Commodities generated by the process are deemed a 100% renewable and have a wide application across food, beverage and chemical industries. More information is available at www.narenewableenergy.com
About Greenbelt Resources
Greenbelt Resources Corporation™ is an award-winning provider of automated, modular, small scale sustainable energy production systems, products and processes that enable local cost-effective processing and disposal of food, beverage and cellulosic waste to be converted into commercially viable saleable consumer products such as bio ethanol, protein concentrate and fertilizer. Operating in several business segments, Greenbelt provides value added solutions to the cannabis, food, beverage and agricultural industries. Greenbelt stock is listed on the OTC Markets Group under the symbol GRCO. More information is available at www.greenbeltresources.com.
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