GRCO CEO visits Cuba
PASO ROBLES, Calif., March 24, 2016 /PRNewswire/ -- As a result of recent changes to Commerce Department regulations by the Obama administration regarding trade with Cuba, the advanced modular technology available from Greenbelt Resources Corporation (GRCO), an innovator of sustainable energy production systems, is exempt from the embargo.
To leverage this opportunity, Greenbelt Resources CEO Darren Eng recently visited Havana, Cuba to evaluate potential liaisons and to meet with the Center for Information Management and Energy Development (CUBAENERGIA), and with Cubazucar, a branch of the Cuban sugar industry. CUBAENERGIA provides research-development and tech-innovation projects that facilitate decision-making by industries across the island nation. As evidenced by recently commissioned papers published by CUBAENERGIA and further confirmed in face-to-face meetings, sustainable energy development is a high priority for most major Cuban industries, in particular sugar and food production.
"The mores of Cuban business rely heavily on trust, which can only be earned in person," acknowledged Eng. "By meeting face-to-face, we jointly overcame the myriad challenges we experienced communicating long-distance, and we reaffirmed our mutual desire to develop projects utilizing Greenbelt technology."
A variety of factors make Greenbelt Resources uniquely suitable for government approval in the current diplomatic milieu. Greenbelt Resources is not a consumer business. Greenbelt technology converts local food/farm industry wastes into local resources such as renewable fuel, animal feed and sustainable energy. Plus, the Greenbelt local-scale model benefits small private farmers, much like small-tractor maker Cleber LLC, the first private Cuban-American company approved in Cuba.
Similarly, several factors make Special Economic Zone of Mariel (ZED Mariel) suitable for an initial deployment of Greenbelt solutions. The sugar industry and other food producers have a strong presence in the area. Businesses in the zone need a reliable source of industrial energy and fuel. And the government promises an accelerated review and approval process with emphasis on sustainable development.
"Now that we have established key relationships, and through those relationships confirmed the unique potential Cuba represents to our company," said Greenbelt Resources CFO Joe Pivinski, "our goal is to establish alliances with appropriate financial partners and funding sources to obtain capital to pursue these opportunities."
About Greenbelt Resources Corporation
Greenbelt Resources Corporation™ is an award-winning provider of sustainable energy production systems focused on delivering modular solutions that enable the localized processing of locally generated waste into locally consumed products. The Company designs, develops and implements technology that makes the production of advanced biofuel reliable, practical and efficient. Controlled by proprietary automated controls, the Company's small-scale, end-to-end modular systems convert food, beverage and other cellulosic wastes into commercially viable advanced biofuels (bio-ethanol), animal feed, fertilizer and filtered water. For more information visit: www.greenbeltresources.com.
This press release does not constitute an offer of any securities for sale and contains certain forward-looking statements. For additional information visit the Greenbelt Resources investors page.
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