RIVERBANK, Calif., June 19, 2012 /PRNewswire/ -- Green EnviroTech Holdings Corp. (Pinksheets: GETH) announced today that principals of Ebbros Energy Partners, LLC have acquired an interest in Green EnviroTech Holdings, Corp. GETH CEO Gary M. De Laurentiis stated, "This is an important development for GETH and demonstrates the commitment of Ebbros to become a long term partner with GETH. Ebbros believes in GETH's team and its technology. We have been working together with Ebbros on a joint development project for 18 months and we are in the process of finalizing all contracts needed to proceed to the next critical step. Ebbros has decided not only to fund the plants but also to invest in the Company."
De Laurentiis added, "We are working with a local city government in California on the permits and a building with a commercial realtor who is negotiating the rental terms for the identified building. We continue to be encouraged at the progress we are making and will be releasing detailed information as it becomes available."
To review the conversion technology please visit: www.YouTube.com Type in "Green EnviroTech Holdings Waste Tires to Oil" and click on the tab for the three videos.
About Green EnviroTech Holdings Corp. Green EnviroTech Holdings Corp. is a plastics and tires recovery and recycling company which removes contaminants from recovered plastic recaptured from end of life automotive vehicles shredded for their metal. Green EnviroTech Holdings Corp. processes this recovered plastic to produce compounded plastic resin and light sweet crude oil as end products. Its unique patented process significantly reduces the amount of shredder residue going to landfills by up to 40 percent creating considerable cost savings for metal recyclers while also dramatically reducing the volume of materials going to the landfill. The Company has developed long term strategic partnerships that allow it to receive feedstock at near zero cost and has also leveraged its patented technology to ensure guaranteed sale of 100% of its production output thereby creating a sustainable and high margin business model. A valuable by-product of the Green EnviroTech process is commercial grade, sweet crude oil that will also be sold to industry at market prices. For more information please visit www.greenenvirotech.com.
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