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Green EnviroTech Holdings, Corp. Agrees on Terms to Acquire FWD:Energy Inc.

06/22/2017 | Press Release

JAMESTOWN, CA--(June 20, 2017) - Green EnviroTech Holdings, Corp. (OTC PINK : GETH ) is pleased to announce that it has agreed on terms to acquire FWD:Energy, Inc. in a stock and cash deal subject to successful completion of due diligence.

“I am very pleased that we have agreed terms with the FWD:Energy management and Board,” said Chris Bowers, CEO of GETH. “FWD has developed a proprietary second generation technology that has the potential to generate excellent incremental financial returns at commercial scale over and above the returns that will be generated by the GETH GEN 1 Processing Solution. Our plan is to have a full scale FWD:Energy line in operation in Q2 2018. I would like to thank the GETH and FWD:Energy teams for their efforts in securing this next generation technology.”

Rich Sloan, MD of FWD:Energy, added, “We’re very excited to bring our next generation, proprietary end of life tire processing technology to market in concert with the Green EnviroTech team. Combining our resources with GETH’s builds on the strengths of both organizations to reduce risk and maximize value creation. We’re now ready to transition from R&D to commercial operation with an eye toward unique, high value markets for our end of life tire derived products.”

Gary De Laurentiis, Chairman of GETH, added, “This deal will generate additional long term value for GETH shareholders and provide a greater financial incentive to remove end of life tires from the environment."

About GreenEnviroTech Holdings

GreenEnviroTech Holdings, Corp. (GETH) is a pioneer in sustainable development. Our mission is to find and implement practical, economical solutions that will clean up the environment. Our technologies will convert waste into valuable products and help to protect the planet. We will create local jobs and stimulate economic growth in the communities where we do business.

About FWD:Energy

FWD:Energy Inc. is committed to developing and operating economically viable renewable energy facilities to help communities utilize their waste streams in the most sustainable and productive manner. As a champion of new sources of renewable energy, FWD:Energy is committed to converting millions of scrap tires annually in North America and globally into desirable products. Additionally, FWD:Energy's facilities bring further value to communities by creating employment, improving the environment and removing myriad issues caused by scrap tire disposal.

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