Garb Begins Construction Planning on First Indiana Plant; Forecasts $10M EBITDA

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Jan 17, 2012, 10:30 ET

SALT LAKE CITY, Jan. 17, 2012 /PRNewswire/ -- Garb Oil & Power Corporation (OTCQB: GARB) meets with numerous government officials to advance its project in the state of Indiana. The Indiana project, which is in conjunction with an EB-5 program managed by its financing partner, ACG, is dedicated to provide approximately 100 jobs directly at the facility and up to 600 jobs due to the plant's economic benefit to the region. The regional government continues to assist the Company with the development. This particular region has lost many jobs due to automobile industry plant relocations. GARB is committed to work with the community to transfer the valuable e-Waste from entering region's landfills and mine the products for commodities. Each location is designed to process approximately 55 Million pounds of e-Waste each year, able to produce EBITDA earnings in excess of $10 million annually. The Company is working with the region government and ACG to erect up to 7 of these plants in the economically depressed area. Garb expects to expand the operation to neighboring states.

CEO, John Rossi added, "We are currently meeting with numerous Indiana government officials and our construction planning teams in preparation for our ground breaking expected early this year. We are excited to build our first of many US e-Waste recycling facilities mirroring our patented technology successfully operating for many years in Germany. We look forward to bringing a new base for jobs to the region and providing a green solution to the e-Waste that has thus far been dumped in land fills."

ABOUT GARB:

You can watch our technology in action on the following link http://www.youtube.com/watch?v=dVbZ9SqAYfU

Information about ACG partnership: http://www.prnewswire.com/news-releases/garb-oil--power-corp-and-acg-consulting-llc-have-formed-xanthus-llc-to-manage-the-building-of-7-e-waste-plants-in-the-us-over-the-next-3-years-126576708.html

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995. Statements contained in this document that are not historical fact, are forward-looking statements based upon management's current expectations. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. The results anticipated by any or all of these forward-looking statements may not occur. Garb Oil & Power Corporation is not required to update its forward-looking statements.

Garb Oil & Power Corporation +1-801-738-1355
Office John Rossi President & CEO Email: [email protected]
Websites: www.garbop.com

SOURCE Garb Oil & Power Corporation