GDT TEK Enters into Agreement in Principal to Purchase an Operating Landfill
LARGO, Fla., Feb. 21, 2013 /PRNewswire/ -- GDT Tek, Inc., (OTC: GDTK) a company focused on renewable and sustainable energy technologies announced today that GDT TEK, Inc., the Company entered into an agreement in principal to purchase one hundred percent (100%) of a certain business that supplies electricity to the grid from electrical generators that burn methane gas. The methane gas is the byproduct of the landfill that the business is located on. The landfill operation is located in the northern part of the United States near the Great Lakes. The agreement attached along with business financials requires a payment of $8,950,000 to be paid to the current owners of the business which is to be completed within 120 days from the date the agreement was signed.
Bo Linton President of GDT Tek, Inc. stated, "This acquisition once completed will allow GDT Tek to install our Phoenix units at the landfill location and increase revenue by up to 20%. Our second goal would be to present the Green USA Recycling process to the County officials and see if they have an interest in incorporating the recycling into the land fill operation thereby increasing the operating efficiently at that landfill."
About Green USA Recycling Corp.: an Indiana, based private company (GUSAR) focused on single stream waste recycling technologies and waste to energy technologies. The company recycles waste products to RDF Pellets, Organic Fertilizer, Electricity, and many other products and is driving its adoption by power plants and other waste-heat generating industries.
Green USA Recycling Corp., website is http://www.greenusarecycling.com/
About GDT Tek, Inc.: is a Florida-based publicly traded company (OTC: GDTK) focused on renewable and sustainable energy technologies. The company has licensed patented waste heat to electric power generation technology and is driving its adoption by power plants, landfills and other waste-heat generating industries. GDT Tek's waste heat to electricity systems are powerful enough to serve as a primary energy source, highly efficient, immediately cash-flow positive when installed under a Power Purchase Agreement and are scalable with system sizes from 150 KW/Hr to 5000 KW/Hr currently available. The GDT Tek system has been proven through a long-term five year installation at a San Jose, California-area landfill. Waste heat captured from landfill-generated methane gas generator engine exhaust and radiator jacket coolant systems is used by the GDT Tek system to generate electricity which is then sold to the grid.
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SOURCE GDT Tek, Inc.