Greenbelt Resources Receives PURNOL Funding and Commences Enhancements to Production Facility and Supply Chain Logistics
PURNOL to market premium brand bioethanol for extraction solvent
PASO ROBLES, Calif., Jan. 15, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE – Greenbelt Resources Corporation (OTC: GRCO) (Greenbelt), the developer of a sustainable ECOsystem model that transforms waste into revenue generating bioproducts including bioethanol, today announced initial funding for a licensing and exclusive distribution rights agreement from PURNOL, a California-based distribution company.
In accordance with the agreement between PURNOL and Greenbelt, a substantial portion of an undisclosed fee was funded in December of 2018. Subsequently, Greenbelt commenced the process of modifying and enhancing its production facility and supply chain logistics protocols to accommodate the agreement.
As previously announced, PURNOL agreed to pay a substantial undisclosed total fee for licensing and distribution rights to brand all of the bioethanol produced in Greenbelt’s California BioEthanol Project (CBE Project), which uses proprietary technology to convert local brewery, winery and agricultural waste into various biobased products, including bioethanol and high protein animal feed. The PURNOL brand bioethanol represents a premium product of eco-friendly high-quality premium extraction solvent marketed into various markets, particularly including the CBD market, currently projected to potentially be $22 billion by 2022 in a recent exclusive article in Rolling Stone Magazine.
“The structure of this agreement is financially rewarding for all parties involved,” said Greenbelt CFO Joe Pivinski. “It secures for PURNOL all extraction solvent bioethanol produced by Greenbelt, ensures the sale of Greenbelt’s current production capacity and also provides the resources by which Greenbelt can upgrade existing production and supply chain technologies to produce greater returns.”
The agreement establishes a commitment for all bioethanol produced by Greenbelt’s CBE Project to be sold under the PURNOL brand.
Investors interested in directly investing into the CBE Project are encouraged to email ir@greenbeltresources.com for more information.
About Purnol
Founded to minimize the environmental impact of the CBD and medical cannabis extraction process, Purnol integrates sustainability, biowaste management and renewable energy into the CBD and medical cannabis industries. The result: PURNOL Sustainable BioEthanol.
PURNOL Sustainable BioEthanol is a premium extraction solvent designed for the CBD distillate and product manufacturing process. PURNOL enables CBD and medical cannabis companies to promote a clean, sustainable energy future by selling products generated by processes with minimal impact on the environment. For more information: visit http://www.purnol.com/
About Greenbelt Resources
Greenbelt Resources Corporation™ is an award-winning provider of automated, modular, small scale sustainable energy production systems, products and processes that enable local cost-effective processing and disposal of food, beverage and cellulosic waste to be converted into commercially viable saleable consumer products such as bio ethanol, protein concentrate and fertilizer. Operating in several business segments, Greenbelt provides value added solutions to the cannabis, food, beverage and agricultural industries. Greenbelt stock is listed on the OTC Markets Group under the symbol GRCO. For more information visit www.greenbeltresources.com.
Forward-Looking Statements & Safe Harbor
This document includes certain statements, predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the supply and demand for biofuels, our ability to remain technologically competitive and other economic, competitive and technological factors involving the Company's operations, markets, services, products and prices.
Contact:
Darren Eng, CEO
Greenbelt Resources Corporation
888-995-GRCO (4726 x 101)
darren@greenbeltresources.com
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