MAY 2012

Green EnviroTech Holdings sells permit to construct

Green EnviroTech Holdings Corp. has sold the Permit to Construct for the Riverbank, California proposed waste plastic to oil processing facility to WM Riverbank Recovery, LLC, Beaverton, Oregon.

The planned 50,000 sq.ft. facility will recycle difficult-to-recycle plastic waste starting with agricultural mulch film, fumigation film and irrigation drip tape (LDPE) into crude oil utilizing patented, proven and commercially viable technology from Agilyx. This will be the company’s first facility in California and will utilize the Agilyx technology.

CEO Gary De Laurentiis stated, “The sale of the permit to Agilyx will allow GETH to focus on the two major projects at hand. First is our proposed plant for waste plastic and tires to oil in Mississippi. This plant is planned to be funded by Ebbros I Investment Group, of Kansas City, Missouri. Second is our proposed plant in Wisconsin to process shredder residue to oil and compounded plastic.

The funding for this plant is planned to be with ACG Companies and the EB5 program. We have identified two locations in Wisconsin that meet the criteria for the EB5 program. We should have a definite location set within the next few weeks. Once the location is finalized the timeline to begin construction should be within six to eight months. Funding for both plants have Letters of Intent signed and negotiations are in the process to finalize the funding.”