Global Clean Energy, Inc. Project Development Update
Sep 05, 2014
OTC Disclosure News Service
– Global Clean Energy, Inc. Project Development Update
HOUSTON, TX–(Marketwired – Sep 5, 2014) – Global Clean Energy, Inc. (OTC PINK: GCEI) is pleased to advise that it is progressing with all that is required to acquire the ferrous metal company in the Southeastern US and expects to close on the acquisition during the fourth quarter of this year.
The Company has successfully concluded testing of tire derived carbon char with Intertex World Resources, Inc., Akron, Ohio, a global leader in the distribution of Carbon Black. The carbon char was produced in the pyrolysis systems that GCE will be acquiring from China. Preliminary testing validates GCE’s conclusion that tire derived carbon char can be an alternative to virgin carbon black as a replacement in the dye, coloration and pigmentation markets currently being served with virgin carbon black. This creates an opportunity for the successful deployment of GCE’s pyrolysis tire to fuel projects once the purchase agreement is finalized.
GCE has also finalized negotiations for a long term tire feedstock agreement with one of the largest tire recyclers in North America. Further, carbon char testing will be concluded by Intertex World Resources, Inc. in the next 60 days and will lead to a purchase agreement between Intertex World Resources and GCE’s tire to fuel pyrolysis project for the 3,400 tons per year of carbon char which will be produced from their upcoming plant. GCE currently has 3 of the 4 contracts required to successfully develop a pyrolysis tire to fuels plant being: tire chip feedstock agreement, plant site location, and off-take agreement for transportation fuel. The carbon char purchase agreement will finalize the 4th agreement required to successfully implement a tire to fuel plant.
Global Clean Energy, Inc. (GCE) is a waste-to-energy alternative fuels company. It is developing build-own-operate waste-to-energy conversion sites through developed and acquired technologies that convert end-of-life plastic and tires into commercially viable energy. The Company calls the process Reforming Environmental Salvage into Clean Usable Energy (R.E.S.C.U.E). Global Clean Energy is also a leader in the recovery of platinum group metals (PGM). The Company is at the forefront of alternative energy and cleantech in North America.
Statements in this release may be regarded, in certain instances, as “forward-looking statements” pursuant to certain sections of the Securities Act 1933 and the Securities Exchange Act 1934, respectively. “Forward-looking statements” are based on expectations, estimates and projections at the time the statements are made, and involve risks and uncertainties, which could cause actual results or events to differ materially from those currently anticipated, including, but not limited to delays, difficulties, changed strategies, or unanticipated factors or circumstances affecting Global Clean Energy, Inc. and its business. There can be no assurance that such forward-looking statements will ever prove to be accurate and readers should not place undue reliance on any such forward-looking statements contained herein. Global Clean Energy Inc. will not republish revised forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.
GLOBAL CLEAN ENERGY, INC.
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