Greenbelt Resources Corp (GRCO)

[europa7]

NEWS: Greenbelt Initiates CBE project to produce bioethanol for CBD extraction

https://ih.advfn.com/p.php?pid=nmona&article=78676635&_ga=2.267317255.807842161.1542034861-552904135.1539699517

https://www.greenbeltresources.com/

PASO ROBLES, CA November 13, 2018 -- InvestorsHub NewsWire -- Greenbelt Resources Corporation (OTC: GRCO) (Greenbelt) has announced commencing Phase 1 of the "California BioEthanol Project," a three-phased initiative to convert Greenbelt's Commercial Scale Testing Facility into a commercial-scale production biorefinery. Upon Phase 1 completion, the biorefinery will produce approximately 1.37 million pounds of protein concentrate and 75,000 gallons per year of bioethanol. Announced earlier this year, the total estimated investment for the California BioEthanol Project is $3.25 million.

"The demands of the extraction industry for bioethanol, particularly in California, are now undeniable," says Darren Eng, Greenbelt's CEO. "Greenbelt has become a preferred premium source because our proprietary ECOsystem model is founded on a community-scale concept that's even more environmentally friendly than organic. We transform unintended food waste from local businesses, such as breweries and wineries, and produce bioproducts, such as amino acid rich protein concentrates to be sold to local animal producers and bioethanol to be sold to the local cannabis industry for use in extraction."

Eng estimates the production facility will begin generating sales within the first eight weeks of commissioning. Phase 2 will add a second production system followed by Phase 3 that will expand the production capacity of Phase 1 and reduce cost of per gallon production. Phase 3 will more than double the bioethanol production to 200,000 gallons per year.

Already, industry demand has opened discussions about installing Greenbelt ECOsystem community scaled systems all around the country starting with key areas of demand in California and Colorado, but also in the northeast and the south, where the CBD industry is exploding.

California's cannabis industry alone is projected to be over $10.0 billion annually by Arcview Market Research and author Kenneth Morrow in The Extraction Evolution writes that 90 percent of all cannabis produced and sold in the future will be processed and extracted..."