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Greenbelt Resources Thriving in High Oil Prices - Company Update
MINNEAPOLIS-(Business Wire)-July 2, 2008 - Greenbelt Resources Corporation (Pink Sheets: GRCO) and CEO Scott Pummill are happy to announce that Diversified Ethanol Corporation, a wholly owned subsidiary of Greenbelt, has secured several ethanol plant build design-wins in the multi-millions of dollars, in multiple State locations. Since Scott Pummill's assumption of office at Greenbelt, Diversified Ethanol has been able to secure these wins based upon creative financing and state-of-the-art technology as developed by Floyd Butterfield. Prior to being hired by Greenbelt Resources, Mr. Pummill specialized in novel renewable energy financial packaging.
Greenbelt resources designs and builds ethanol production plants that create ethanol from recycled waste. The benefits of the product is that it does not use food resources to generate ethanol, but instead is able to re-mediate waste that would otherwise find its way into landfills or other waste disposal sites which are not environmentally friendly.
Floyd Butterfield, an award winning ethanol plant designer, stated, "I am very excited about our clean, earth friendly technology and even more excited about our business model and our cash flow projections." Mr. Butterfield was recently featured in a New York Times article for his home-based modular ethanol plant designs.
Greenbelt is in negotiations on additional proposed plant designs and builds both in the U.S. and abroad. Mr. Pummill states that within the next few weeks information regarding specific plant build sites, including the monetary details of the builds, will be released. Mr. Pummill believes that the market for building and owning small ethanol plants in the U.S., and abroad, is significant in light of current economic developments regarding costly non-renewable fossil based fuels.
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements. These forward-looking statements involve certain risks & uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history & history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
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