GDT Tek Enters Into Exclusive Rights Agreement To Acquire a Renewable Energy Company
LARGO, Fla., May 16, 2013 /PRNewswire/ -- GDT Tek, Inc., (OTC: GDTK) is pleased to announce that it has entered into a definitive Exclusive Rights Agreement to acquire a renewable energy company that turns landfill gas into electricity and creates a Refuse Fuel Derived pellets (RFD) from a bio mass waste product utilizing the waste heat from the burning of the landfill gas. The RFD pellets are then sold to electricity companies that can burn the pellets in lieu of coal to create electricity. The agreement provides an exclusive right for GDT Tek to acquire this Green Energy Company as a wholly-owned subsidiary on or before December 31, 2013.
GDTK is in the process of taking very specifically arranged steps to bring to fruition a well thought out and devised plan to grow and expand the Company. This Exclusive rights agreement to acquire this profitable Green Energy Company is the second step in the process which follows the first step of starting the process to bring GDTK current on all filings (see release of May 14, 2013). GDT Tek has also begun preparing a $20,000,000 bond offering to fund this acquisition with warrants attached at much higher strike prices than the current market valuation. This bond offering and the debt service on this bond offering will easily be supported from the current net cash flow being generated by this Green Company without including other operational activities expected to come on line for GDT Tek or the expected increase in operations over the next 24 months of this renewable energy company.
Bo Linton, President of GDT TEK, Inc. stated, "This agreement is a step forward in executing the GDT Tek business plan. Once completed this transaction should bring GDTK to profitability and allow for further expansion and growth of our Company. It truly is exciting that we will become current with our financial filings soon and position GDTK for the immediate, mid-term and long-term future."
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. GDT Tek's heat to power conversion technology solution is proven to be the most reliable, versatile, efficient, lowest emissions, and overall cost-effective solution available in today's changing world market.
RTR Global Investments, LLC is a wholly owned subsidiary of GDT Tek, Inc. It holds projects, contracts, and power purchase agreements for its parent company GDT Tek, Inc.
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SOURCE GDT Tek, Inc.