Garb Oil and Power Corp (GARB)

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$GARB News Out: Garb Oil & Power Corp. (OTC: GARB) Announces Contract in Goodyear ELT Program.June 10, 2021 Salt Lake City, UT

Garb Oil & Power Corp. announces contract in Goodyear ELT program.

Globally, a number of ELT recovery systems are already highly developed, such as in Europe and Japan, with recovery rates of 92%, 92% and 81%, respectively. However, we will continue to work internally and collaborate with our industry peers in the search for improvement with the goal of reaching 100% recovery for all tires worldwide.

Goodyear’s SVP Global Operations and Chief Technology Officer and regional presidents oversee the internal teams that managed our involvement in ELT recovery in 2021. In 2021, we also began collecting metrics on the recovery routes from our company-owned retail and commercial truck locations based on the TIP ELT Waste Hierarchy, and a common reporting methodology, to better understand the disposal of ELT we manage. Collecting this information from our waste management vendors for ELT will allow us to further advance the beneficial reuse of ELT.

Goodyear is also working to develop ELT as a raw material, promoting a circular economy. Goodyear tires may contain recycled materials, such as recycled rubber compounds that may include devulcanized butyl rubber, which has been used by Goodyear for more than 20 years. It comes from used truck tubes and can replace virgin polymer and carbon black to a limited extent in the liner compound. Other devulcanized rubbers and ground rubbers from ELT can be used in various tire compounds. Tire materials such as steel in bead wire or steel cord may contain recycled content (pre- or post-consumer) where the recycled material may vary. We are exploring additional opportunities to use recycled materials in our tires such as recycled styrene for use in making styrene butadiene rubber. We also continue to investigate traditional recycling processes that provide acceptable properties beyond our current applications and are looking to collaborate with customers to support beneficial reuse of tires.

Garb Oil & Power Corporation has a long company history in the fast-growing industry of waste recycling and specifically related to waste-to-energy. Garb is organized to utilize both next-generation machines and new technologies to vertically integrate into the waste refinement, recycling, and energy industries. In addition to selling new tires, shredders and related recycling equipment, the Company’s emphasis is for its own plants to produce profitable new and “green” solutions for waste-to-energy including the potential use of alternate energy sources, new equipment technologies that improve energy usage efficiency and utilizing recycled material in producing both useful and desirable products including recycled rubber to produce retread tires and as an alternate energy source in the production of electricity.

Forward-Looking Statements
Certain statements contained in this press release may constitute “forward-looking statements”. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (http://www.sec.gov).

In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, governmental and public policy changes, the Company’s ability to raise capital on acceptable terms, if at all, the Company’s successful development of its products and the integration into its existing products and the commercial acceptance

Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.

Garb Oil & Power Corp.(OTC: GARB)

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