Greenbelt Resources, PURNOL Execute Purchase Agreement for Premium Bioethanol Licensing and Distribution Rights
PURNOL to establish a namesake premium brand of bioethanol for extraction solvent
To Receive TEXT ALERTS On Greenbelt Resources TEXT "GRCO" To 522-36
PASO ROBLES, Calif., Oct. 04, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE – (OTC: GRCO) (Greenbelt), the developer of a sustainable ECOsystem model that transforms waste into revenue generating bioproducts including bioethanol, today announced that it has signed a licensing and exclusive distribution rights agreement with , a California-based distribution company.
Recognizing the high value of the benefits to the CBD market, PURNOL has agreed to pay a substantial undisclosed fee for licensing rights to Greenbelt’s sustainable bioethanol technology and production processes and the right to purchase, brand and resell all of the bioethanol produced in Greenbelt’s , which uses proprietary technology to convert local brewery, winery and agricultural waste into various biobased products including bioethanol and high protein animal feed. PURNOL will sell the bioethanol under its own brand as an eco-friendly high-quality premium extraction solvent to various industries, including the CBD market, currently experiencing explosive growth and receiving interest from .
“We believe Greenbelt’s bioethanol is the most sustainable ecofriendly ethanol on the market and will position select CBD extractors with a final product that they can truly claim is green,” said PURNOL Co-Founder and CEO Neil Meeks. “As such, we have chosen bioethanol produced by Greenbelt’s technology as the source for our premium PURNOL brand. Thanks to Greenbelt’s patent pending membrane dehydration technology, we can sell a high quality, extremely high-proof ethanol extraction solvent with comparatively low energy consumption and minimize the overall impact on the environment.”
“The structure of this licensing and distributorship rights agreement is a financially rewarding relationship for all parties involved,“ said Greenbelt CFO Joe Piviniski. “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 and means by which Greenbelt can upgrade existing production and supply chain technologies.”
“Pairing Greenbelt’s expertise in providing sustainable bioethanol with the marketing expertise of PURNOL to create a premium brand establishes a win-win-win scenario,” noted Greenbelt CEO Darren Eng, adding, “It’s good for Greenbelt, good for PURNOL and good for customers interested in truly sustainable and safe bioethanol.”
The agreement establishes the commitment for all bioethanol produced by Greenbelt’s CBE Project to be sold to PURNOL and resold under the PURNOL brand.
Investors interested in directly investing into the CBE Project are encouraged to email 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
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. For more information visit .
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)
