Dallas, Texas (July 13 , 2011) – StockGuru shines its Spotlight on Green EnviroTech Holdings Corp. (OTCBB: GETH). Chairman and CEO Mr. Gary De Laurentiis announced today that Green EnviroTech is planning to establish two tire recycling plants in the United States using the latest technology from East Asia. The Company closed at $0.20 on July 12, 2011, trading on volume of 31,300 shares and at the lower end of its fifty-two week range of $1.25 – $0.10.
The technology, which is currently in operation in nine locations in East Asia, has been evaluated at length by GETH who dispatched an engineer for onsite analysis in March 2011. The reports received confirm the viability of the system which converts discarded used tires to oil. Part of the onsite analysis was to assess the quality of the oil produced and, importantly, for use in the United States, to also assess the emission levels from the plants. Oil sample test results confirmed that converted oil was well within required levels for the United States, that emission levels were well within the limits imposed in the United States, and the tire conversion plants were superior to other systems analyzed by GETH in operation worldwide.
Mr. De Laurentiis commented, “Tire disposal worldwide is a major problem in landfills and other areas, with landfills still being the major disposal route. This relatively new technology fits perfectly into the Company’s business plan. By establishing two plants in the USA, GETH will continue on its path of being committed to clean recycling programs while giving our shareholders the opportunity for a return on their investment. As GETH develops, we plan to establish other plants throughout the United States.”
About Green EnviroTech Holdings Corp.
Green EnviroTech Holdings Corp. is a plastics 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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